Responsible & Sustainable Investments (RSI) Committee
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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
Responsible & Sustainable Investments (RSI) Committee
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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.
Go toMiFID 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.
Go toMiFID 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.
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.
Go toMiFID 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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