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MiFID & LEGAL DOCUMENTS


 
What is MiFID?

The Markets in Financial Instruments Directive (“MiFID”) is a new body of regulation mandated by the European Union. The main scope is to enhance and harmonize investor protection and increase transparency and competition in the whole spectrum of European markets.

MiFID establishes a consistent regulatory framework across the European Economic Area (“EEA”). MiFID introduces new and more extensive requirements with which investment firms must comply.

MiFID has been transposed into the national laws of EEA states (EU member states together with Norway, Iceland and Liechtenstein) at 1st November 2007. To this end, Cyprus enacted the Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007) implementing directives 2004/39/EC and 2006/73/EC of the European Parliament and of the Council on 26th October 2007.

MiFID impacts mainly upon the following key areas:

  • Best Execution Policy
  • Order Handling
  • Client Categorization
  • Terms of Business and Client Agreements
  • Suitability and Appropriateness Tests
  • Client notifications
  • Pre and Post Trade Transparency
  • Transaction Reporting
  • Safeguarding Client Financial Instruments and Funds; and
  • Conflicts of Interest


Further MiFID information and ARGUS Internal Policies


- ARGUS CONFLICT OF INTEREST POLICY [ pdf file ]

- ARGUS BEST EXECUTION POLICY [ pdf file ]

- ARGUS CUSTOMERS CATEGORIZATION [ pdf file ])

- ARGUS COMPLAINT HANDLING PROCEDURE

- COMPLAINT HANDLING FORM [ pdf file ])

- INVESTOR COMPENSATION FUND [ pdf file ])

- PILLAR 3 DISCLOSURES [ pdf file ])

Links:

- CESR
- Cyprus Securities and Exchange Commission (CySEC)