The Markets in Financial Instruments Directive (MiFID) replaces the previous Investment Services Directive (ISD)) and is a core pillar in EU financial market integration.
MiFID requirements are
applicable to 27 Member States of the European Union and 3 members of the
European Economic Area (Iceland, Norway and Lichtenstein).
MiFID introduces new regulatory provisions aimed at increased transparency of reports on stock and derivatives transactions.
Main areas of MiFID application:
- Activity of exchanges and other trading institutions to be regulated;
- Establishment of pre-sales and post-sales transparency requirements in respect transactions with securities;
- Increasing the range of investments and services which require authorization;
- Providing the possibility for investments companies to perform international activity by opening branches in other EU countries after having obtained an authorization from National Regulatory Authorities.
In compliance with the Directive investment, companies have to introduce certain changes in their procedures, for instance, reports on transactions and information must be kept for five years. In Latvia MiFID in force since November 1, 2007.
making any decisions about using financial services, we kindly ask you to
acquaint yourself with and assess the main risks, related to trading of
Please note that trading of certain financial instruments may cause you loss of more money than initially invested!
With the aim to comply with the requirements of the Directive we invite you to get acquainted with the Policy and procedure of performance of customers’ orders, as well as the Description of risks, available under the section "How to become our customer".