Cowen welcomes MIFID transposition

MINISTER FOR FINANCE for Finance Brian Cowen yesterday welcomed the fact that Ireland is one of the first member states to fully transpose the Markets in Financial Instruments Directive, (MIFID).

The MIFID harmonises and modernises the EU-wide legal framework for investment firms, promoting greater cross-border competition and the competitiveness of the EU financial sector overall.

The minister said: “Our commitment to maintaining Ireland’s strong performance in the transposition of EU financial services directives is a key element of the Government’s strategy to support the continued development of international financial services in Ireland.”