What is MiFID

On the 15th of May 2014, the European Union issued the revised Markets in Financial Instruments Directive (MiFID), 2014/65/EU, and the Markets in Financial Instruments Regulation (MiFIR), 600/2014, (together MiFID II), which aim, amongst others, to further strengthen investor protection.

MiFID II broadens the scope of MiFID I to other financial instruments and trading venues and extends to market participants and activities not regulated under MiFID I for the purpose of strengthening the transparency framework, better protection of investors, and addressing non-regulated investment sectors.

The new legislative framework has been transposed into Cyprus national law by Law 87(I)/2017 and applies from 3rd of January 2018.