Chapter 4 Notes

Question 1

What does MIFID stand for ?

Answer 1

Markets in Financial Instruments Directives (MiFID)

Question 2

What were the aims of MIFID?

Answer 2

The Markets in Financial Instruments Directive (MiFID) is the framework of European Union (EU) legislation for:

• investment intermediaries that provide services to clients around shares, bonds, units in collective investment schemes and derivatives (collectively known as ‘financial instruments’)
• the organised trading of financial instruments (regulates the market)

Question 3

When did MiFiD II get brought in?

Answer 3

January 2018

Question 4

What is the main strategic objective of the FCA?

Answer 4

The FCAs main overarching strategic objective is to ensure Financial Markets work well.

Question 5

To FCA follows three operational objectives, what are these?

Answer 5

1) Consumer Protection
2) Integrity of the UK Financial System
3) Competition