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MiFID: Difference between revisions
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====Under MiFID 2 Custody could become an {{eudirprov|investment service|MiFID}}==== | ====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 currently on of the listed '''{{eudirprov|ancillary | Under MiFID I {{tag|Custody}} – including fund administration and related services such as cash and collateral management – is currently on of the listed '''{{eudirprov|ancillary services|MiFID}}'''. It could become oneo the full {{eudirprov|investment services|MiFID}} 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. | ||
For European custodians belonging to large banking groups the matter of whether they are regarded as providing an investment service may be largely academic since they may have implemented MiFID in 2007 as part of group-wide policy. | For European custodians belonging to large banking groups the matter of whether they are regarded as providing an investment service may be largely academic since they may have implemented MiFID in 2007 as part of group-wide policy. | ||