Markets in Financial Instruments Directive, MiFID (Markets in Financial Instruments Markets Directive, MIFID)

Published by the European Commission in April 2004 as a successor to and update of the European Investment Services Directive. It is regarded as the basic law for the European single market for financial services and came into force in Germany on November 1, 2007 as the “Gesetz zur Umsetzung der Richtlinie über Märkte für Finanzinstrumente (RiL 2004/39/EG, MiFID) und der Durchführungsrichtlinie (RiL 2006/73/EG) der Kommission (Finanzmarkt-RichtlinieUmsetzungsgesetz) vom 16. Juli .2007, BGBl. I 2007, 1330 vom 19. Juli 2007”. – MiFID is considered the centerpiece of the EU action plan to create an unrestricted single market for financial services. In terms of content, it aims to strengthen investor protection and also cross-border competition among providers. – See best execution, gold plating, legal harmonization. – Cf. Deutsche Bundesbank Monthly Report of July 2004, p. 39 f. (presentation of MiFID), ECB Annual Report 2012, p. 134 (recast of the Markets in Financial Instruments Directive), BaFin Annual Report 2013, p. 165 (status of deliberations on product supervision and monitoring at investment services companies).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/