What you need to know about risk and reporting under MiFID II
The Markets in Financial Instruments Directive (MiFID II) will be implemented across Europe on 3rd January 2018. This Directive and the associated Regulation (MiFIR) is extremely wide-ranging and will have significant impact across the Financial Markets industry.
In the run-up to January 2018, AQMetrics has been working with regulated firms to ensure they have the necessary systems and controls for risk monitoring and regulatory reporting in place, in order to comply with MiFID II and MiFIR.
Below we provide a set of resources that will help firms understand and respond to these new requirements.
AQMetrics Global MiFIDII Meetups
Due to the success of AQMetrics Dublin based MiFIDII meetups in 2016, AQMetrics not only continued with the Dublin meetups into 2017, it further took the meetups to London and plans to launch them in New York in September 2017. The meetup has been established by fellow professionals to bring together the MiFID II community across the globe and in so doing bring value by connecting people from the worlds of compliance, technology, financial services and beyond.
At the most recent London meetup hosted by AQMetrics in July, Stephen Hanks represented the FCA and reassured attendees that the FCA are taking a pragmatic approach to firms who can demonstrate they have made ‘honest efforts’ to comply with the new legislation. Hanks warned that while the FCA recognises the challenges faced by the market, it will still require firms to make reasonable efforts to comply. To help them with this, he said the FCA will be hosting a number of roundtables covering specific aspects of the new rules – such as transaction reporting, which it covered in its Supervision Roundtable on 17 July 2017.
MiFID II Dublin Meetup
London Round table: How can MiFID II affect culture & conduct in Financial Institutions?