MiFID, the European Union’s Market in Financial Instruments Directive comes into effect on 1 November and it replaces the existing Investment Services Directive (ISD). All firms who carry out investment business in any of the EU member states must be compliant with MiFID from 1 November 2007.

The aim of the ISD was to set out some basic high-level provisions governing the organisational and conduct of business requirements that should apply to firms. It also aimed to harmonise certain conditions governing the operation of regulated markets.

MiFID has the same basic purpose but it makes significant changes to the regulatory framework to reflect developments in financial services and markets since the ISD was implemented and it is the central part of the EU drive towards a single European financial market.

As a result it will change the way in which Coutts & Co does business and hence how advice on our investment products and services is given to clients.

Further Information

If you have any questions or you wish to have further information on our Execution Policy, please speak to your private banker