TISA - Tax Incentivised Savings Association - Training Event

MiFID II A New Chapter

Tisa -

MiFID II A New Chapter

Is your firm ready for a global industry shake-up when MiFID II comes into play in January 2018?

Course overview

If your company provides investment services and products in financial instruments, the Markets in Financial Instruments Regulation and Directive (that’s MiFID II to the rest of us) will change the way you do business. Its aim is to create a stable, competitive and transparent framework for financial services across the EU. Though its focus is on Europe, its impact will be global.
MiFID took effect in 2007 and was billed at the time as the biggest change in the marketplace for decades. But the Commission review and the crisis of 2008 exposed serious shortcomings in financial markets. So a new directive was introduced. It has three aims: to reduce operational risk, increase transparency and protect investors.
This is an opportunity as well as a challenge. Although the directive is still likely to change, planning in advance could give your firm a competitive edge.

The key is taking action early. So join us for this two-hour briefing to learn what these ambitious reforms mean for your firm:

•Understand the driving forces behind MiFID and MiFID II
•Get to grips with the timescale of MiFID II
•Understand the implications for market structure, transparency, investor protection and regulatory reporting
•Clarify expectations for implementation and understand the key risks
•Learn about past regulatory implementation and enforcement
•Define an approach to manage regulatory change in your organisation

Course agenda
The evolution of MiFID
•The history of the directive
•Lessons learnt from FCA enforcement of MiFID I
•Legislative timescales: MiFID II and MiFIR
•Timelines for implementation
•Understanding the regulatory landscape (including the European Commission, ESMA and the Competent Authorities)

The FCA’s approach to key regulatory changes
•Market structure and the introduction of Organised Trading Facilities
•Transparency (focusing on non-equity trading and structured products)
•Organisational requirements and the powers of the European Supervisory Authorities
•Conduct of business rules, including inducements, best execution and gold plating
•Provisions for high-frequency trading
•Reporting for trade, transaction and commodities

How to successfully oversee regulatory change
•Understanding the importance of governance and oversight during regulatory change
•The key priorities of ESMA and the FCA
•Expectations of senior management and the firm
•Approaches to policy formation and advocacy

Implementation: Room 101
•Taking an outcomes-based approach to regulation
•Managing risk: knowledge, awareness and training
•Addressing key concerns and managing regulatory impact
•How to manage concerns with limited time before implementation and with requirements not yet finalised.

This session will be delivered by Viv Bannigan. As an economist she has spent a large portion of her career in financial services working specifically in regulatory risk. Viv has extensive experience in Wholesale Capital Markets in both the public and private banking sector in the UK and global markets.

This session will run from 10.00am - 12.00noon.

Members: £150
Non-members: £300 (VAT exempt)

This session qualifies for 2 CPD hours