Editor's Note: Please note that the content of this page and any document herein is copyright protected by the Financial Regulator.  We have placed this information on www.mifid.ie because it is often difficult to find the exact location of this material on the Financial Regulator’s website.  We endeavour to keep this page a mirror copy of the Financial Regulator’s material but you are warned that this may not always be the case and therefore you should visit www.financialregulator.ie on a regular basis to view first-hand its material. As at 20th July 2008 there are eight (8) MiFID pages on the Financial Regulator's website: (1) Introduction page; (2) Implementation page; (3) Transaction Reporting page; (4) Pre and Post Trade Transparency; (5) Conduct of Business page; (6) Organisational Requirements page; (7) Authorisations page; and (8) CESR Documentation.   This is a copy of the Financial Regulator's MiFID Implementation page.  The links appearing below on this page will take you to the relevant page at www.financialregulator.ie.   European Communities (Markets in Financial Instruments)Regulations 2007 (S.I. 60 of 2007)  - Guidance and Recommendations issued by the Committee of European Securities Regulators The Markets in Financial Instruments Directive, 2004/39/EC (MiFID) is one of the most significant pieces of financial services legislation agreed in recent times and applies to  investment firms and credit institutions when providing investment services and/or performing investment activities.  The MiFID was passed into law in Ireland on 15 February 2007 in the European Communities (Markets in Financial Instruments) Regulations 2007 (S.I. 60 of 2007) (MiFID Regulations) and becomes operational on 1 November 2007. From 1 November 2007, firms falling within the scope of MiFID will have to comply with the provisions of the MiFID Regulations. The Committee of European Securities Regulators (CESR) has developed mechanisms to ensure consistent implementation of the MiFID and to foster supervisory convergence among its members.  These include guidance and recommendations on implementation of and compliance with obligations arising under MiFID. In implementing the MiFID in Ireland, the Financial Regulator will follow the guidance and recommendations issued by CESR and accordingly their publications set standards for investment firms and credit institutions. CESR’s guidance and recommendations focus on the operational aspects that arise as a consequence of the MiFID and its implementing measures, and also on identifying practical solutions to address the regulatory challenges to ensure certainty amongst market participants. These publications are listed below. If we decide not to follow any aspect of CESR guidance, we will communicate this clearly, stating our reasons for divergence.  It is essential that firms access these documents in order to underpin preparation for the implementation of the MiFID. This page identifies those publications that have been published by CESR only. There may be other documents published by the Financial Regulator in the form of guidance or as legally binding requirements, and of which firms should be aware. As CESR issues further recommendations or guidelines, these will also form part of the Financial Regulator’s body of MiFID source material.  MIFID CESR reference material  Inducements Under MiFID - Recommendations (CESR)/07-228b) (161.88 KB PDF)    Best Execution under MiFID - Q&A (CESR/07-320) (578.51 KB PDF)                                                                                                                                               Guidelines on MiFID Transaction Reporting (CERS/07-301) (84.97 KB PDF)                                                                                                                                                Publication and Consolidation of MiFID Market Transparency Data (CESR/07-043) (174.96 KB PDF)                                                                                                                                               The Passport under MiFID (CESR/07-337) (129.31 KB PDF)                                                                                                                                                 Protocol on MiFID Passport Notifications (CESR/07-317) (187.22 KB PDF)