Course Overview
The European Commission’s Markets in Financial Instruments Directive (MiFID) has fundamentally changed the way the capital markets operate across Europe, both in terms of individual participants and in terms of the market infrastructure itself.
This one-day course details the background, scope and purpose of this wide-ranging legislation, and provides an analysis of the main changes to the FSA Rules from 1 November 2007. The course will incorporate a case study showing how the new regime applies in practice.
Course Objectives
A detailed understanding of the MiFID I and II directives and how they are applied.
Who should attend
Any audience from senior management to direct revenue producers and key support staff who need a practical overview to the MiFID regulatory framework.
Course Content
Introduction & background
- Financial Crisis and G20 agreements
- Key drivers MiFID I
- Objectives and timelines MiFID II
Investor Protection
- Independent advice
- Conflicts of interest and inducements
- Client categorization
- Suitability & appropriateness
- Cross selling
Market Structure
- Trading landscape
- Algorithmic trading
- Commodity trading
- Clearing obligation
- Direct electronic access
Transparency & Reporting
- Trading venues
- Dark pools
- Systematic internalisers & investment firms
- Transaction reporting
- Data reporting service providers
Governance, Supervision & Third Country
- Governance requirements
- Supervisory powers
- Third country access
MiFID II Implementation
- How financial institutions can start to prepare
- Project Approach: key success factors, phasing, impact analysis, rule translation, gap analysis and solution design
