The Directive on Markets in Financial Instruments (MiFID) was adopted by the European Parliament and Council and came into effect on November 1, 2007. It regulates the markets of financial instruments for provision of investment services and activities within the European Economic Area (EEA). The EEA includes the 27 EU member states as well as Iceland, Liechtenstein and Norway.
The main objective of the MiFID is to harmonise the governing of financial markets within the EEA, and therefore to increase efficiency, enhance financial transparency, increase competition, and offer greater consumer protection in investment services. Under MiFID, an investment firm may freely provide its services within the territory of another member state or a third country, provided that such services are covered by the investment firm’s authorisation.
Complaints and the Financial Ombudsman Scheme (FOS)
As a regulated firm we are required to have a complaints handling procedure in the event that clients wish to express their dissatisfaction. We will investigate any complaint thoroughly in accordance with our complaint handling procedures and will provide a full response and explanation to any complaint we receive. All our staff receive training on how to handle complaints and you can be sure any problem you raise will be taken seriously.
Most complaints are resolved at an early stage, but if we are unable to satisfy your concerns you may be able to refer your case to the FOS, which is an independent body set up to investigate complaints against regulated firms. They will look into your complaint and provide you with a response. You should only approach the FOS if we have already provided you with a Final Response. For more information about out complaints policy please read our Terms and Agreements.