The Financial Supervision Authority exchanged experience with its UK colleagues on the application of MiFID
A training on the Markets in Financial Instruments Directive MiFID was organised for supervision experts in cooperation with the UK Financial Services Authority (FSA) and the Financial Supervisory Authority on 7 March 2008.
The Markets in Financial Instruments Directive, which was transposed into Estonian legislation on 19 November 2007, regulates the content and scope of the provision of investment services in the European Union with the goal of increasing the efficiency and transparency of the securities market, as well as the integration of the markets of the Member States and common protection of clients.
FSA specialists Allison Belben, Colin Wilcox and Kyra Paraschaki gave a thorough overview of the current experience and practice of applying MiFID in Great Britain to the employees of the Authority. The experience and knowledge are planned to be used in the work of the Estonian financial supervision. The training was also attended by specialists from the Latvian and Lithuanian authorities and Ministry of Finance.