MiFID II

The Markets in Financial Instruments Directive (MiFID) is the EU legislation that applied in the UK from November 2007, and was revised by MiFID II, which took effect in January 2018.

TISA’s MIFID groups aim to produce guidance and additional information to provide industry firms with tools and a consistent understanding of problematic areas.

Benefits to industry


COMMON UNDERSTANDING OF THE RULES FOR FIRMS, INCLUDING OF REGULATORY EXPECTATIONS.

MORE CONSISTENCY, ENSURING BETTER OUTCOMES FOR FIRMS AND THEIR CUSTOMERS

Benefits to consumers


BETTER DESIGNED PRODUCTS

BETTER IDENTIFIED TARGET MARKETS, INCLUDING RISKS FOR CUSTOMERS

CLEAR CONSISTENT AND COMPARABLE DISCLOSURE OF COSTS BY FIRMS

Benefits to UK economy


CONSISTENT APPROACH BY INDUSTRY RAISES STANDARDS, IMPROVES COMPLIANCE, AND IMPROVES OUTCOMES FOR CUSTOMERS

TISA Groups & Resources

Responsible & Sustainable Investments (RSI) Committee

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MiFID II Publications

MiFID II News

MiFID II Costs & Charges Approach to Implementation – Updated 30 September 2020

This Guide has been prepared to assist MIFID II Asset Management and Distribution firms in the implementation of MiFID II Costs & Charges provisions and is primarily intended for UK-based investment firms, MiFID II investment firms operating in other jurisdictions may also find this Guide useful.

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MiFID II Feedback Template

This template enables distributors to meet their obligations to share with asset managers the number of sales outside of the target market and into the negative target market and negative distribution channel.

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MiFID II Product Governance – Distributor Reporting Useful Guide

Under MiFID II product distributors are periodically required to make available relevant information to product manufacturers.
This Guide sets out these obligations in greater detail and proposes a good practice approach for the industry and is relevant for product manufacturers, end distributors and intermediary distributors such as platforms.

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Good Practice Guide for Product Distributors and Product Manufacturers – Product Governance MiFID II

The product governance rules concern both investment firms that manufacture financial instruments as well as investment firms that distribute them to clients. This guide provides guidance for firms that distribute products and those that manufacture products.

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MiFID II Appropriateness Approach to Implementation

The number of firms performing appropriateness assessments increased as a result of the change from MiFID I to MiFID II. This document sets out a recommended approach to performing such assessments, and aims to provide firms selling complex products with an assessment which is fair, consistent and not excessively onerous to implement.

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