Firms struggle to meet European deadline
British financial businesses are struggling with record-keeping duties demanded by a European Union (EU) directive, which comes into force next month.
The Markets in Financial Directive Instruments Directive (MiFID) harmonises the regulation of independent investment services across the EU.
However, a survey by think-tank JWG-IT claims that firms are having problems meeting demands on how long clients' financial records should be retained for, Out-law.com reported.
