MiFID: Markets in Financial Instruments Directive
MiFID is an abbreviation of the Markets in Financial Instruments Directive, which establishes a cohesive legal framework for investment services and financial markets in European Union member states.
MiFID regulations are applicable to all entities providing services or consultancy in investment, in particular brokerages, investment fund managers and distributors of financial products.
The main objective of MiFID is to protect clients. MiFID requires financial institutions to assess clients with regard to their investment experience, knowledge about financial instruments, understanding of the product and other factors. Each client should be assigned to a category based on the criteria imposed by MiFID, such as volume of financial assets, knowledge and experience.
Copernicus Capital TFI S.A.’s obligations as an intermediary in the disposal and redemption of Copernicus open-ended fund participation units.
Amendments have been made to Polish law in connection with the implementation of MiFID regulations, including changes to the investment funds act, and on its basis the Minister of Finance issued an Ordinance on 3 April 2009.