Publication

Financial services firms will have to adapt to the strategic implications of MiFID in the coming months, or face gradual extinction. MiFID portends a true revolution in the European financial landscape, not only because of the profound changes it will trigger, but also because of the huge diversity in preparedness on the part of both member states and firms to implement its provisions. The abolition of the monopoly of exchanges and the introduction of best execution for service providers are fundamental challenges for the two main actors involved. And there will be no excuses for delays after November 1st, when the new rules will be irrevocably applicable.