CII takes MiFID action

The CII is taking the following actions in order to help businesses understand the impact of the new Directive:

• Immediate provision of a guide to MiFID detailing the principal changes and giving direction on where to obtain further information
• Immediate inclusion of MiFID-compliant content within ed.LEARN and, from early 2008, within financial ASSESS, the CII's online learning and competency systems
• Updating of existing qualification learning materials within the Certificate in Financial Planning, Diploma in Financial Planning and Certificate in Financial Administration to ensure that they reflect the relevant MiFID provisions
• Updating the corresponding examinations, with effect from 24 March 2008, as appropriate to ensure that they reflect relevant MiFID provisions

Bob Bullivant, deputy director general of the CII commented: "MiFID is a major part of the European Union's (EU) Financial Services Action Plan and will affect many organisations in the UK and across the EU.

"As the market's premier professional body, it is our duty to provide information and support to enable firms and their employees to achieve compliance and therefore remain in a position to provide the highest quality service to their clients.

"Our MiFID guide, and the changes we are making to our learning provision, will help our members meet the MiFID challenge, both now and in the future.

"Further MiFID announcements are expected shortly and the CII will ensure that its members are kept fully briefed on what these will entail for them and their businesses."

The directive came into force on 1 November 2007.