The impact of the Market in Financial Instruments Directive (MiFID)

Purpose – To introduce the Market in Financial Instruments Directive (MiFID). Design/methodology/approach – Provides a brief overview of the MiFID, how it widens the scope of business permitted under the “passport” regime, the types of financial institutions it covers, and the time frame for implementation. Findings – The biggest challenge facing regulated firms is the limited time they will have to comply with MiFID's requirements. Originality/value – Discusses the scope and importance of MiFID.