As the Nov. 1 "in force" date for the European Union's Markets in Financial Instruments Directive (MiFID) approaches, a London-based law firm is doing its part to make sure companies stay informed as to what the law requires and how authorities in the UK will implement those requirements.
International law firm Denton Wilde Sapte launched an MiFID Web site, according to IT Pro. The firm's marketing director says the site is designed to give those in the financial industry and/or legal teams to those companies an overview of the law and its implementation; he says the site will evolve as the law itself evolves:
We still sense a real gap in the market for information on MiFID. It's often the case that information about legislation that is on the books for some time still needs updating, especially as it evolves and gets onto people's radars close to the deadline.
And the law should be on many people's radars indeed, says banking partner Robert Finney:
MiFID will impact on everyone in the financial sector and many industries that are connected to it. It will also effect (sic) every member of the EU.