The implementation of the Markets in Financial Instruments Directive (MiFID) on November 1, 2007, is set to completely revolutionise the banking and finance sectors : not only will it derail market activity by strongly increasing the level of competition between markets, but it will also modify the relationship between banks and their clients.
This code of conduct for managing conflicts of interest in the field of investment research has been prepared by the French Association of Investment Firms (AFEI) and the French Banking Federation (FBF).
The European Commission on 19 November 2002 adopted draft legislation intended to replace the 1993 Investment Services Directive (ISD). The objective is to organise the access to the various market venues while integrating innovations.
The revision of the Investment Services Directive (ISD) is an issue of paramount importance. Because the ISD organises access to the capital markets, it is vitally important for financial intermediaries, investors and companies alike.