In January 2018, the Markets in Financial Instruments Directive II (MiFID II) will come into full force. The way that capital markets operate in Europe will go through significant changes and it will impact how firms operate and the way they interact with their customers.
Driven by EU legislation, the reform seeks to strengthen financial markets in Europe by making them more resilient for the future following the global financial crisis.
The Directive is wide ranging and the major challenge for the industry will be evaluating the way that it will affect your business and preparing for the challenge.
Depending on a company's business model, the legislation could affect a wide range of functions including trading, transaction reporting, client services, IT and HR systems.
For example, MiFID II highlights the need to retain voice, mails, emails, faxes, meetings minutes and notes relating to client orders for 5 years, where subsequently the deal was captured electronically at any point in the trade lifecycle.
Organisations will need to provide evidence that the appropriate processes are in place.
At Kaplan, we can ensure that your staff are prepared for the tough work ahead. We can help you to explore the practical issues brought about by implementation and be fully compliant for January 2018.
If you would like to hear more about how Kaplan can help your organisation, please complete the callback form.