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Regions / Europe

Newsletter Dec 2006: MiFID implementation to cost UK firms £1 billion

Staff | February 26, 2007

LONDON – The one-off costs for UK financial firms of implementing the EU’s sweeping new Market in Financial Instruments Directive (MiFID) are estimated to be between £877 million ($1.7bn)and £1.17 billion ($2.3bn) in a paper published in late November by the Financial Services Authority (FSA).* Additional, on-going costs are reckoned to be between £88 million and £117 million a year.

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