MiFID
On 1 November 2009, a new law came into force in the Swedish securities market through the Securities Market Act. The new law is based on a new EU directive called MiFID (Markets in Financial Instruments Directive).
The purpose of the new legislation is, among other things, to open up and strengthen the competition within the European securities market. With the new law follows an increased demand for information to and from our customers when it comes to new business opportunities as well as risks.
The purpose of the Markets in Financial Instruments Directive (MiFID) is to further harmonize and to improve the internal market and the regulatory framework for investment services for the 30 member countries of the European Economic Area (the EEA, which includes the 27 EU member states plus Iceland, Norway and Liechtenstein). This will mean a great advantage for you as a customer, as MiFID is especially designed to protect investors, increase transparency and promote competition.
MiFID is intended to act as a conclusion to the process of creating a single European market for investment services, to respond to changes and innovations that have taken place in the securities market as well as to strengthen investor protection. This harmonization will also allow securities companies to offer their services across the borders.
More information is available at www.fi.se
