FSA's Mifid plans not expected to reach the markets until spring

Execution brokers and providers will be given a tight timeframe to adapt their businesses to the di...

Execution brokers and providers will be given a tight timeframe to adapt their businesses to the directive on Markets in Financial Instruments (Mifid). This is because the FSA will not be issuing its implementation plans until spring with final rules out only months before the EU deadline. The regulator expects the European Commission to finalise its rules in December with Committee of European Securities Regulators (CESR) adding its contribution in April next year. This will mean the FSA will have a goal of making the final rules available in early 2007 and having firms implement them...