Scientific review article
Autor: mr Dijana Montiljo-Mihajlović
JEL: E44, G18, G20, G24, N24

Summary: The Law on Capital Market, which started to be implemented towards the end of 2011, is to a great extent harmonized with the EU Directive on Markets in Financial Instruments (MIFID). The very definitions of an investment firm and investment services were thus taken from the above Directive. Moreover, harmonization took place with the main postulates of this Directive in terms of general conditions for doing business; capital requirements for investment firms; obligations of investment firms when it comes to clients’ protection; prevention of conflicts of interest; and reception and execution of clients’ orders.

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