MiFID - the Markets in Financial Instruments Directive - Market Awareness
We first brought news on the MiFID on 23rd November 2005. There was a major set of press articles and much informed comment. At that point we asked you what effect MiFID would have on you. After a month the overwhelming reaction, 62%, is "Huh? What is it?"
In view of the huge forthcoming change in European financial markets, even bearing in mind that this is a straw poll of visitors here who have even had the chance to read what MiFID is on this site, this is alarming indeed. It should come as a huge wake-up call, not only to those directly affected, but to those whose staffing and resource levels will be affected by the drain of skilled staff to the finance sector.
If you are a CIO in the finance sector this affects you now. And there is the very real threat of custodial sentences for not complying for you and other C-Level executives. If you are "just on the fringes" then you need to know about it, and if you think you are unaffected... Read the research, because your staffing bill is likely to go sky high in a salary escalation war caused by the MiFID fallout
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