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MiFID: Difference between revisions
→Under MiFID 2 Custody could become an investment service
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(see [http://www.hsbcnet.com/gbm/global-insights/insights/2012/mifid-2-progress-and-post-trade-implications.html HSBC note on the subject]). | (see [http://www.hsbcnet.com/gbm/global-insights/insights/2012/mifid-2-progress-and-post-trade-implications.html HSBC note on the subject]). | ||
====Under MiFID 2 Custody could become an investment service==== | ====Under MiFID 2 Custody could become an {{eudirprov|investment service|MiFID}}==== | ||
Under MiFID I {{tag|Custody}} – including fund administration and related services such as cash and collateral management – is an '''ancillary service'''. It could become a full investment service under MiFID II. The European Parliament currently favours the status quo, but the Council, under the Cyprus presidency, wants it to be a full investment service. Central Securities Depositaries (CSDs), incidentally, will be governed not by MiFID II but by the forthcoming CSD Regulation. | Under MiFID I {{tag|Custody}} – including fund administration and related services such as cash and collateral management – is an '''ancillary service'''. It could become a full investment service under MiFID II. The European Parliament currently favours the status quo, but the Council, under the Cyprus presidency, wants it to be a full investment service. Central Securities Depositaries (CSDs), incidentally, will be governed not by MiFID II but by the forthcoming CSD Regulation. | ||