CESR explains definition of investment advice under MiFID

12/10/2009 | FTAdviser.com

The European Commission plans to review the Markets in Financial Instruments Directive next year but requested evidence of potential problems with the directive. The Committee of European Securities Regulators responded with a consultation paper on the definition of investment advice under the directive. CESR came up with five key tests to determine which activities constitute investment advice to bring clarity to the definition.

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