By Hatstand, a Synechron company
Investment banking is a global business. Most regulators, however, have a tendency to look at things in isolation. It is as if the borders of a jurisdiction are brick walls that rival the Great Wall of China for thickness rather than electronic recalls or less. As a consequence, legal entities based outside the MiFID jurisdiction will be affected by some regulatory aspects if they have a business relationship with a legal entity based inside this jurisdiction. Moreover, although some regulations may not be mandatory, it may be advisable for a foreign legal entity to comply with them for the sake of the business relationship with a stakeholder based within the jurisdiction and to protect itself.