MiFID implementation, and more principles based regulation
27 February 2007
Any MiFID implementation exercise for a firm should be viewed in
the wider context of the FSA’s move towards more principles based
regulation. It may have its critics, but it is inevitably going to
develop and it is preferable to focus on its benefits. It should
offer better flexibility and so give senior management and product
development teams the chance to devise innovative solutions for
their own particular businesses.
FFW is holding a seminar on 27 February 2007:
- to explore further the precise scope of MiFID
- to consider what principles based regulation will mean, in
practice, for UK authorised firms; and
- with the benefit of the January FSA Policy Statements, to
identify some key initiatives and dates which you need to factor
into your plans.
We hope this initial seminar will help clarify the likely impact
of MiFID for your business. No short summary is feasible but
hopefully we can try to illuminate and explain some of the main
developments.
Further specific seminars designed to consider the consequences
of issues for particular types of authorised firm, suc h as
corporate finance advisers and operators of collective investment
undertakings, will be organised in due course, once the specific
proposals for these types of businesses are available.