According to Article 4(1)(20) of Directive 2014/65/EU (MiFID
II) investment firms dealing on own account when executing client orders over the counter (OTC) on an organised, frequent systematic and substantial basis are subject to the mandatory SI regime.
"I think it just stops people being able to do what they're there for, and Mifid
II is probably a good example of that." He adds: "The level of regulation is now becoming so intrusive...
II is one of 18 global regulations currently supported by Droit.
This latest solution is part of a suite of MiFID
II services developed by Broadridge's FundAssist business - a regulatory and distribution solutions provider to the global investments industry.
II, which went into effect on January 3rd, requires firms to monitor communications and transactions for Market Abuse and sets a higher bar for High Frequency Trading, requiring such trading activity to be monitored at the microsecond level.
In a new twist on Wednesday, British markets regulator the Financial Conduct Authority and German counterpart BaFin both granted the complex derivatives market another 30 months to comply with MiFID
The effort now directed at the CFTC shows that with less than two months until Europe's revised Markets in Financial Instruments Directive, or MiFID
II, takes effect, global banks are still scrambling to identify all the potential consequences.
Gaurav Gupta, Executive Director at Decimal Point Analytics commented that, "MiFID
II is the new reality that will have a profound impact on the research and investment management industry all over the world.
In addition, the site provides relevant news and content regarding MiFID
II legislation, including FlexTrade's customised MiFID
II compliance solution, answers to commonly asked questions regarding inducements and informative blog post updates.
II, which comes into effect on 3 January 2018, demands that all financial services firms in Europe must keep records of all services, activities and transactions for at least five years.
BlackBerry has partnered with mobile surveillance and compliance firm VoxSmart to help financial services firms comply on time with the European Union's Markets in Financial Instruments Directive (MiFID
The post BlackBerry, VoxSmart team up for MiFID
II compliance appeared first on Tahawul Tech.