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What Is the Markets in Financial Instruments Directive (MiFID)? The 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

What Is the Mumbai Interbank Forward Offer Rate (MIFOR)? The term Mumbai Interbank Forward Offer Rate (MIFOR) refers to a benchmark rate used by commercial banks for certain financial contracts in India. MIFOR is used for setting prices on forward-rate agreements and derivatives. It is a mix of the London Interbank Offered Rate (LIBOR) and

What Is the Milan Stock Exchange (MIL)? Milan Stock Exchange (MIL) is Italy’s only stock exchange. The exchange is located in Milan and is known in Italian as the Borsa Italiana. The exchange features a list of prominent Italian listed brands and also serves as a place where investors can trade a variety of securities

What Is the Mileage Allowance? Mileage allowance is a term the Internal Revenue Service (IRS) uses to refer to the deductibility of expenses car owners accrue while operating a personal vehicle for business, medical, charity, or moving purposes. For 2021, the IRS suggests deducting $0.56 per mile for business use, $0.14 for charity use, and $0.16 for certain medical

Millennial is the name given to the generation born from 1981 to 1996, dates now clarified by the Pew Research Center, although some have seen them as starting in 1980 and being born as late as 2004. Also known as Generation Y (Gen Y), the millennial generation follows Generation X (Gen X). In terms of numbers, it

What Is a Mill Levy? The mill levy is a property tax. It is applied to a property based on its assessed value. The rate of the tax is expressed in mills and is equal to one dollar per $1,000 dollars of assessed value. The mill levy is calculated by determining how much revenue each

What Is the Mill Rate? The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on “mills.” It is a figure that represents the amount per $1,000 of the assessed value of the property, which is used to calculate the amount of property tax.

Milton Friedman was a U.S. economist and Nobel laureate known as the most influential advocate of free-market capitalism and monetarism in the 20th century. At the beginning of his career in the 1950s and 1960s, Friedman’s strong advocacy of monetary policy over fiscal policy and free markets over government intervention was considered radical by the

What Is Married Filing Separately? Married filing separately is a tax status for married couples who choose to record their respective incomes, exemptions, and deductions on separate tax returns. The alternative to married filing separately is married filing jointly. Usually, it makes sense financially for married couples to file jointly. However, when one spouse has

What Is a Mutual Fund Subadvisor? A mutual fund subadvisor is a third-party money manager that is hired by a mutual fund company to manage an investment portfolio. Subadvisors are typically sought out by management investment companies because of their expertise in managing a specific strategy. Key Takeaways A mutual fund subadvisor is contracted out