The Markets In Financial Instruments Directive (Mifid) has made it harder to discover market abuse in Europe, due to segmentation of trading information.
"Market abuse such as the HBOS affair might have been easier to stop pre-Mifid," said a panel member at the IFLR Capital Markets Forum today.
This is because of a fragmentation of data. Transaction reporting now occurs in a variety of places. For example, in the UK the London...