Each country has its own Financial Regulations and Legislation. The countries in the EU (at least UK) have their own rules and have to follow MiFID.
I believe MiFID is particularly designed to cover all investment countries EU-wide and includes "passporting" where a country can have branch offices in various EU countries but only one MiFID licence in its home country. Is this not the main point of MiFID to be able to buy financial products in any euro country on an equal footing?
MiFID I is updated to MiFID II with the introduction of some tighter rules in the financial market. In Australia, what is similar to MiFID?
