Markets in Financial Instruments Directive ("MiFID") replaced the Investment Services Directive of 1993 and came into effect throughout the European Economic Area ("EEA") on November 1, 2007. MiFID was the next step in the development of an integrated financial market in the EEA. MiFID revised national legislation in Member States within EEA with the aim of harmonising the regulation of financial services across the EEA.
MiFID covers three basic areas:
(i) Conduct of business which includes rules governing best execution, client categorisation, suitability/appropriateness, inducements, transaction reporting requirements, client order handling, marketing.
(ii) Organisation which includes rules regarding licensing, cross-border pass-porting, compliance arrangements, risk management, outsourcing, record-keeping, client assets, conflicts of interest, systems and controls, governance.
(iii) Equity Market Transparency which includes rules regarding pre-trade transparency, post-trade transparency, systemic internalisation.
View additional information on the MiFID – overview and key requirements.
We are required to provide certain information to our clients including our Execution Policy and information on product disclosures. We will publish updates to this information on this webpage.
For further information on the above or MiFID, please contact your J.P. Morgan relationship manager or email the J.P. Morgan MiFID Team.
View the list of J.P. Morgan Credit Institutions.