• About MiFID

    The Markets in Financial Instruments Directive is a European Union law that provides harmonized regulation for investment services across the 30 member states of the European Economic Area (the 28 Member States of the European Union plus Iceland, Norway and Liechtenstein). The main objectives of the Directive are to increase consumer protection in investment services. MiFID is the cornerstone of the European Commission's Financial Services Action Plan whose 42 measures will significantly change how EU financial service markets operate.

    Authorization, Regulation & Passporting

    Firms covered by MiFID will be authorized and regulated in their "home state" (broadly, the country in which they have their registered office). Once a firm has been authorized, it will be able to use the MiFID passport to provide services to customers in other EU member states. These services will be regulated by the member state in their "home state" (whereas currently under ISD, a service is regulated by the member state in which the service takes place).

    Featured MiFID Jurisdictions:   Cyprus   |   Malta   |   Bulgaria