It is also no secret how we feel about ourselves and the world, in general, is connected to how much money we have, and savings play a big part in that.
And as things are unraveling for Boris Johnson the future of Britain remains. What is sure, is that a Brexit, no matter if there is a deal or not, will have a huge impact on the lives of millions of Brits and Europeans.
In this post, I’ll clarify MiFID (II) or Market in Financial Instruments Directive and Regulation (so not MiFID (II) Directive). I’ll answer the following questions:
- What is MiFID II?
- Why was MiFID II created?
- Who is MiFID II for?
- What impact does MiFID II have on (retail) investors?
What does MiFID II mean in simple terms?
The first version of MiFID implemented new measures, such as pre- and post-trade transparency requirements, and created rules of conduct for the EU’s financial firms. The first version of MiFID was primarily focused on Over The Counter (OTC) transactions.
You might think that MiFID was created after the 2008 financial crisis, but it actually came into effect prior to that. The EU did make changes in light of the crisis.
If you were trying to find out how to get these US-based ETFs in Europe, I hate to burst your bubble, but there is no straight forward for this after a new ETF regulation in Europe (no, options aren’t straightforward). The major culprit? PRIIPs.
PRIIPs stands for Packaged Retail and Insurance-based Investment Products. Phew, that’s a mouthful, isn’t it? No wonder everyone uses the abbreviation.