MiFID aims include ensuring: 

• increased investor protection
• improved efficiency, integrity and oversight of financial markets
• increase competition between the marketplaces

The introduction of the Securities Trading Act resulted in a number of new operational and organizational requirements for First Securities AS.

Treatment of customers

The rules resulted, among other things, that firms in more than previously was required to obtain information about their customers. Customers of firms will be categorized as non-professional clients, professional clients or eligible counterparties.

Customer information and categorization is to make investment firms better able to adapt the advice and products to each customer. There will be a requirement for assessment of the suitability or appropriateness of the provision of investment services. For us to be able to assess the suitability, we will collect information about the customer's knowledge and experience, the customer's financial position and the customer's investment objectives. The assessment will mainly be relevant for non-professional customers.

New documents

In the context of MiFID has been drawn up new business conditions, guidelines for the execution of orders, descriptions of risk and characteristics of financial instruments, information memorandum for customer classification, purposes price list and more.

The documents will be distributed or made available prior to 1 November 2007.

Conflicts of Interest

There will be stricter requirements for the identification and handling of conflicts of interest in investment firms. First Securities ASA has developed new guidelines to ensure that conflicts of interest are handled in a responsible manner.

Requirements for best results, execution of orders

It is produced guidelines for the execution of First Securities ASA. The purpose of the document to describe how we carry out orders with the intent to ensure our customers the best possible result