The directive has been in force across the European Union (EU) since 2008.
The regulation that increases the transparency across the European Union's financial markets and standardizes the regulatory disclosures required for particular markets. The MiFID implemented new measures, such as pre- and post-trade transparency requirements, and set out the conduct standards for financial firms.
MiFID is being revised and updated as at 3rd January 2018. For more information see MiFID II: Revised Markets in Financial Instruments Directive & Markets in Financial Instruments Regulation