Down the Mifid Rabbit Hole
Just as Alice had never seen a rabbit with a pocket watch, most industry veterans have never seen a directive with such a big and far-reaching impact as the E.U.'s Markets in Financial Instruments Directive (Mifid). The industry might not want to be here, but here it is, less than 135 working days away from Nov. 1.
Few firms have a clear plan of where they are and where they think they are going. Is this surprising? Not really, given the breadth of the challenge. The usual approach of sending
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