Investment Services Directive
Investment Services Directive (ISD)
A European Union directive, adopted in 1993, which establishes the conditions in which authorised investment firms and banks can provide specified services in other EU member states on the basis of home state authorisation and supervision. Services eligible for a passport under the ISD include brokerage, dealing, individual portfolio management, reception and transmission of investor orders, and underwriting/placing activities.The ISD also contains the right of direct or remote access of any authorised ISD firm to participate in trading on exchanges or regulated markets in other member states.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Investment Services Directive — ( ISD) A European directive that allows certain businesses once authorised ( authorisation) in one part of the EEA to undertake investment services in another part of the EEA without the need for re authorisation. Consequently, authorisation… …   Financial and business terms

  • Investment Services Directive — ISD An EU directive (1993) providing a regulatory framework for securities dealing. It states that securities firms should be admitted by their domestic regulator before they are allowed to operate at a European level. A new ISD, which greatly… …   Accounting dictionary

  • Investment Services Directive — ISD An EU directive (1993) providing a regulatory framework for securities dealing. It states that securities firms should be admitted by their domestic regulator before they are allowed to operate at a European level. A new ISD, which greatly… …   Big dictionary of business and management

  • Investment Securities Directive —   Introduced in 1993, and permitting a company authorized in one Member States to offer its services throughout the EC without requiring further authorization, as well as providing standards for solvency and the protection of investors …   Glossary of the European Union and European Communities

  • investment services — Under the Investment Services Directive this phrase incorporates the activities of dealing, arranging and managing. As such, these activities when undertaken in qualifying instruments are within the scope of the Directive. Dresdner Kleinwort… …   Financial and business terms

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  • directive — 1) A legislative decision by the European Union s Council of Ministers and Parliament, which is binding on member states but allows them to decide how to enact the required legislation. See Accounts Modernization Directive; Financial Services… …   Big dictionary of business and management

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  • Markets in Financial Instruments Directive — European Union directive: Directive 2004/39/EC Directive on markets in financial instruments Made by European Parliament and Council Made under A …   Wikipedia

  • Markets in Financial Instruments Directive — (MiFID) Also known as ISD2. A European Union directive which will revise the Investment Services Directive. It is to be transposed into national law by 31 January 2007 and implemented by 1 November 2007. Related …   Law dictionary

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