Survey reveals concerns about MiFID requirements
The ‘best execution’ clause of the European Union Markets in Financial Instruments Directive (MiFID) is causing high concern across the whole spectrum of financial services firms, according to a survey conducted by Complinet.
In a survey of 86 compliance, risk management and legal professionals working in the financial services industry, 50 respondents cited best execution as an area of high concern.
Under the terms of the directive, which comes into force on November 1 this year, financial services providers that conduct transactions on their clients’ behalf must “take all reasonable steps to obtain the best possible result, taking into account price, costs, speed, likelihood of execution and settlement, size
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