The Impacts of Mifid on the Italian Market

December 2009

Abstract

The implementation of MiFID in Italy. The implementation of Directive 2004/39/CE by the European Parliament and the Council, dated April 21st 2004, referring to the markets of the financial instruments (from now on, MiFID or Directive) substantially affected the Italian capital markets, regarding important topics such as: (i) Conflict of interest (ii) Best execution and elimination of the concentration obligation, examined in this paper.

Authors

Ferdinando Bruno

Head of Italian Restructuring , UniCredit Bank AG, Milan Branch, (UniCredit Group), Italy

Ferdinando Bruno is a dual qualified lawyer, as Avvocato in Italy and as Solicitor in England and Wales; he gained several years of experience in international capital markets, commercial and corporate law, insolvency, banking and finance. He is currently Managing Director and Head of Italian Restructuring of UniCredit Bank AG, Milan Branch, (UniCredit Group).

Companies

UniCredit Bank AG, Milan Branch, (UniCredit Group)

UniCredit Bank AG, Milan Branch, (UniCredit Group), formerly Bayerische Hypo- unde Vereinsbank AG, Milan Branch, and Unicredit Banca Mobiliare (UBM) S.p.A., is the investment bank of UniCredit Group, covering Debt Capital Markets, Equity Capital Markets, Corporate Finance, Investment Banking.

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