FSA impact study of MiFID

24 November 2006

The FSA published a paper setting out its assessment of the overall costs and benefits for the MiFID Directive in the UK. The paper indicates that, under certain assumptions, MiFID could generate some £200 million per year in quantifiable ongoing benefits, which will be attributable mainly to reductions in compliance and transaction costs.

The quantified one-off cost of implementing MiFID could be between £870 million and £1 billion with ongoing costs of around an extra £100 million a year.

The cost estimates are based on a survey of firms in which they were asked to set out their actual and/or expected budget for MiFID implementation.

Press release
Report

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