1 What is the investment services directive? In 1993 the European Commission adopted a legislativ...
1 What is the investment services directive? In 1993 the European Commission adopted a legislative framework to provide European financial services firms with a passport for their investment services, known as the investment services directive (ISD). 2 History A subsequent review of the ISD in 1999 identified the directive needed to be adapted to reflect the changing nature of the European financial services market. One of the main objectives was to revise the ISD to reflect the way markets currently operate and make it more sensitive to changes. The Markets in Financial Instruments Di...
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