The European financial services market has gone through major change this year with the implementa-tion of the Markets in Financial Instruments Directive (Mifid). The directive has been making a slow entry in individual member states, something that will hamper its smooth running for a number of years to come.
Domestically, market abuse remains a major issue in the UK market, but is something the local regulator seems loathe to prosecute on.
Another crucial area of financial services that has become ever-more prominent in making or breaking corporate deals is pensions. With strikes over pension provision impacting on the services provided by London Underground and Royal Mail in recent months, pension issues have been placed at the forefront of City thinking.
This Special Report looks at the problems the Department for Work and Pensions is facing over Section 75 debts in multi-employer schemes.