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The EU's Markets in Financial Instruments Directive (MiFID) is a European regulation that increases the transparency across the European Union's financial markets and standardizes the regulatory disclosures required for firms operating in the European Union.

MiFID implemented new measures, such as pre- and post-trade transparency requirements, and set out the standards of conduct to be followed by financial firms. MiFID has a defined scope that primarily focuses on stocks. The directive was drafted in 2004 and has been in force across the European Union (EU) since 2007. MiFID was replaced by MiFID II in 2018.

The goal of the Markets in Financial Instruments Directive (MiFID) is to increase transparency across EU financial markets and to standardize regulatory disclosures for firms.

• MiFID is part of the regulatory changes sweeping the EU and impacting the compliance departments of all financial firms that operate there.
• MiFID has been in force across the European Union since 2007.
• MiFID was replaced by an updated regulatory directive, Markets in Financial Instruments Directive II (MiFID II), in 2018.
• Stocks are the primary focus of MiFID, but the product scope has been expanded under MiFID II.

Source: https://www.investopedia.com/terms/m/mifid.asp