Bull and Bear in front of old stock exchange in Frankfurt


The EU Markets in Financial Instruments Directive (MiFID) and the accompanying Markets in Financial Instruments Regulation (MiFIR) provide the regulatory framework governing the trading of securities within Europe. It governs and harmonises securities trading across Europe and sets high standards for investor protection. The German act implementing MiFID I largely came into effect in November 2007.

The European Commission started a consultation process for the purpose of reforming MiFID at the end of 2010 in light of the consequences of the financial crisis. The purpose of MiFID II and MIFIR is to increase market transparency and improve the efficiency and integrity of financial markets.

European requirements contain an extensive set of rules designed to provide enhance protection for investors by making changes to how investment firms are obliged to behave and organise themselves.


We shall be pleased to answer any questions you may have.