Wpływ Dyrektywy MIFID II na dystrybucję instrumentów finansowych w Polsce
Impact of the MIFID II Directive on the distribution of financial instruments in Poland

Summary/Abstract: The aim of the MIFID II Directive was to reduce conflicts of interest and misselling between distrib- utors of financial instruments and specially protected individual investors. One of the changes was a restriction of paying “inducements” by investment fund companies (TFI) to distributors of financial instruments. The article describes the new practices that arose in the financial instrument distribution market after the implementation of the MIFID II Directive and the results of the authors’ in-depth survey conducted among the financial market professionals. The authors argue that the MIFID II Di- rective increased the amount of regulation for distributors of financial instruments, strengthened the protection of the individual investor, but, on the other hand, limited the range of offerings and wors- ened the situation of distributors not affiliated with banking groups.

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