Non-implementation of MiFID enforcement measures 


MiFID is a 2004 directive creating a new legal framework for investment services in the EU. The enforcement measures are contained in a 2006 directive which member states were required to implement by 31 January 2007. It aims to increase the level of protection for investors, strengthen competition between suppliers of financial services and increase transparency in the market.

The ECJ has not imposed any fines on Poland but can still do so if there is further delay in implementing the directive.

Law: ECJ judgement dated 19 March 2009; Directive 2006/73/EC; MiFID Directive 2004/39/EC