2017 was the year for MiFID II. Pretty much everyone in the European financial industry has had enough about hearing of MiFID II preparation. As MiFID II dominated the discussion in 2017, ahead of going into effect next week, other areas of financial regulation took a back seat.
The goal of this article is to provide a deeper look at specific investment products and analyze how they fit within Article 26 of MiFIR (legislation link). The opinions provided are based on questions from Cappitech clients about non clear-cut trading products.
Access Fintech users can now incorporate Capptivate’s MiFID II and EMIR reporting, tracing regulatory reporting exceptions in its lifecycle management portal. Launched earlier this year, Access Fintech links together tools and services from fintech vendors with in-house technology. Through a single integration, Access Fintech enables buy-side investment firms and banks to easily enhance workflow with new providers while compressing the distributed workflow to a single…
(Article updated on Dec 27 – see new comments at end of post) When MiFID II arrives on January 3rd, 2018, it brings with it a greatly updated version of Transaction Reporting (MiFIR legislation, Article 26). Expanded are both the data fields that need to be reported from 24 to 65 and products under scope. One of the big questions of the reports affecting both…
Cappitech continues to be recognized as a leader in the fast growing RegTech, being listed as a RegTech100 company. Cappitech’s inclusion in the list is after 416 RegTech companies were reviewed. The reviewal and selection process was conducted by FinTech Global, a data and research firm.
Merrill Lynch today became the first investment firm to be fined for a breach in EMIR Reporting. Fined by the UK’s Financial Conduct Authority (FCA), Merrill Lynch will be paying £34.5 million. According to the FCA, the enforcement was due to failures to report details correctly of exchange traded derivatives (ETDs).
New Best Execution standards are arriving soon with the implementation of MiFID II on January 3, 2018. The new text updates what has been in place since 2007 under MiFID I. Those standards though for Best Execution have been mostly ignored by regulators. There is reason to believe that the laissez-faire attitude is set to change under MiFID II.
The deeper EU financial firms are engaged with complying with the upcoming MiFID II regulations, the greater the challenges. Going into effect this coming January, MiFID II regulation includes a wide range of subject matter. Included are new reporting requirements and corporate governance obligations.
MiFID II transaction reporting is set to go live in January 2018. These reports can be sent directly to a financial firm’s National Competent Authority (NCA) such as the FCA, CBOI or CySEC, or to an Approved Reporting Mechanism (ARM).
Cappitech was excited to be able to host over 60 participants at The Ned Hotel for a MIFID II Reporting breakfast last week. The event included a wide range of compliance and operational professionals from many of London’s retail brokers.