My consultancy refers in this segment to a section of the bank law.
Securities trading will undergo significant modifications in this and the next year by the European "Markets in Financial Instruments Directive", short MiFID, coming into effect on 1 November 2007. These changes will be first experienced by banks and financial services companies. They will have to rethink strongly in some areas and to transform in part significantly their internal organisation as well as their distribution channels.
Not only financial services providers but also their customers will feel this change. MiFID will considerably improve consumer rights and increase transparency in securities trading businesses.
On the whole the MiFID, whose content will bring about modifications of the German Securities Trading Law (WpHG), will occupy banks and their customers as well as jurisprudence for some time.
Under the rubric News I have represented some main features of these legal innovations.