Less than two weeks before the Markets in Financial Instruments Directive (MiFID)--the cornerstone of the European Union's efforts to create a single financial market--becomes effective, it appears that the initiative will cause less of a technological "big bang" and more of a nervous tiptoe around legal loopholes.
"There are plenty of last-minute tactical decisions rather than strategic ones being made now," says Alan Jenkins, director of the MiFID practice for consultancy BearingPoint in London.
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