MiFID Connect is a joint project established by eleven trade bodies in January 2006 designed to assist regulated firms to come in compliance with some of the more difficult requirements of the Markets in Financial Instruments Directive (MiFID). The implementation of MiFID in the UK will be carried out by the HM Treasury and the FSA. 
The Association of British Insurers (ABI), The Association of Private Client Investment Managers and Stockbrokers (APCIMS), Association of Foreign Banks (AFB), The Bond Market Association, the British Bankers’ Association (BBA), Building Societies Association (BSA), the Futures and Options Association (FOA), The International Capital Market Association (ICMA), Investment Management Association (IMA), The International Swaps and Derivatives Association (ISDA) and the London Investment Banking Association (LIBA) established a program for reducing the legal risk and simplifying the implementation of MiFID.
The associations's program includes these five points:
- Developing a set of industry guidelines to assist firms in areas of MiFID implementation which carry a high degree of legal risk and/or legal uncertainty.
- Producing specimen industry documentation necessary to comply with the new MiFID requirements.
- Providing, through 2006, a series of implementation courses and individual specialist workshops on the practical problems and issues surrounding implementation of MiFID.
- Publishing a two-part “Survival Guide”, the first part of which (to be issued in the second half of 2006) will comprise a timetable and strategy for firms to manage progressively a programme of implementation. The second part (to be issued in 2007) will comprise a “tick box” checklist covering all the changes that firms will be expected to introduce by the final agreed date of implementation.
- Issuing, through 2006, periodic releases and updates covering timelines and regulatory progress towards finalising the new requirements.
The British Bankers' Association is secretariat to the group.
- MiFID Connect to address post-implementation issues. MiFID Connect.
- About MiFID Connect. MiFID Connect.