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MiFID implemented in Luxembourg

August 2007 - Finance. Legal Developments by MOLITOR Avocats à la Cour.

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On 11th July 2007 the bill on the law on markets in financial instruments was adopted by the Luxembourg Chamber of Deputies and will come into effect 1st November 2007.

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The main aims of the MiFID Law are:

  • Implementing the European Directive 2004/39/EC on Markets in Financial Instruments into Luxembourg law 

  • Reviewing the status of several existing Professionals of the Financial Sector (hereafter "PFS") and creating five new categories of PFS

 

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