Markets in Financial Instruments Directive

MiFID is one of the cornerstones of the European Union's Financial Services Action Plan (FSAP) and is expected to play a vital role in creating a robust, common regulatory framework for Europe's securities markets. MiFID will remove obstacles to firms' use of the EU-wide investment 'passport', foster competition and a level playing field between Europe's trading venues, and ensure a high level of protection for investors across Europe.

The link address is: http://ec.europa.eu/internal_market/securities/isd/mifid_implementation_en.htm