Atos warns industry Mifid will increase competition.

Investment Adviser, October, 2007

Financial services providers, including product manufacturers and advisory firms, will face more competition post-Mifid, according to Atos Consulting.

Paul Beach, head of corporate and investment banking at Atos, said while he believed the directive would spark a long-term process of evolution rather than an overnight revolution, some changes would be instantly noticeable.

He said: "From 1 November certain changes will become very real. What we are focusing on is the explicit requirement within Mifid for the industry to ensure fair competition, in terms of venues that can be used by investors."

Mr Beach said particular European markets, such as the Italian and French zones, would see a breakdown of the concentration rule which had dominated...

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