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Markets in Financial Instruments Directive

On November 1st, 2007, due to the transposition into Portuguese law of the Markets in Financial Instruments Directive (MiFID), new rules on investment in financial instruments came into force. The new rules have a direct impact on the way in which banks and other financial companies sell their products and promote their services and the way in which purchase instructions affect the financial markets.

Insofar as these rules apply to the 27 European Union member countries, all European investors are now covered by the same protection mechanisms.

The main purpose of the MiFID is to set up a single European financial services market based on more transparency in the trading of a vast range of financial instruments and greater protection of investors, adjusting it to their characteristics, experience and financial knowledge.

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