European Institute of Management and Finance | Mifid 2 Mifir transaction
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Mifid 2 Mifir transaction

An Exploration of MiFID II and Transaction Reporting on MiFIR

The Markets in Financial Services Regulation and Directive (MiFID II) is part of the wider European Financial Services Action Plan. The main aim of creating a single market for financial services is to establish a stable, competitive and transparent financial services framework across the European Union.

The MiFID II Directive and the Markets in Financial Instruments Regulation repeal and recast the Markets in Financial Instrument Directive, MiFID. The legislation and proposals are aimed to strengthen investor protection by making markets more efficient and transparent.

MiFID II introduces comprehensive changes across EU financial markets. There are changes to the scope of financial instruments, market structure, transparency, investor protect, while other changes are radical shifts to how firms are operating at the moment.

Furthermore, the regulatory transaction reporting regime will be standardised across Europe under the Markets in Financial Services Regulation. The primary purpose of transaction reports is to detect and investigate suspected market abuse, insider dealer and market manipulation.

Expected Outcomes:

MiFID II is a far -reaching reform across European Financial markets, which will create new requirements for firms and fundamentally altering the structures of certain markets. Unlike MiFID I certain aspects of MiFID II seek maximum harmonise across European markets including certain reporting requirements for example, transaction reporting. Implementing these changes will provide significant challenges for how firms operate. rtain markets. Unlike MiFID I certain aspects of MiFID II seek maximum harmonise across European markets including certain reporting requirements for example, transaction reporting. Implementing these changes will provide significant challenges for how firms operate.

Furthermore, the Markets in Financial Instruments Regulation (MiFIR) Level 1 text states, under Article 26(1), that investment firms that execute transactions in financial instruments shall report complete and accurate details of such transactions to the Competent Authorities as quickly as possible and no later than the close of the following working day, 23:59:59 UTC to be exact.

While the Markets in Financial Services Directive (MiFID) allowed Member States a degree of flexibility in interpreting the transaction reporting requirements into local law, the implementation of the regime under the Markets in Financial Instruments Regulation (MiFIR) will be directly applicable and binding to all Member States.

As such, this two day workshop will provide delegates with a high level overview of these changes and the risks that firms will need to consider while preparing for ‘day 1’ the 3rd January 2018.

Attending this workshop will enable you to:

  • Explain the importance of these reforms, the key legislative changes and how they inter-relate with the wider regulatory agenda.
  • Describe the MiFID II regulatory process and timeframes for MiFID II implementation.
  • Identify the key regulatory changes & challenges across MiFID II for firms including across market structures; transparency; investor protection and governance.
  • Develop a framework to meet regulator’s expectations, identifying key risks for oversight of regulatory and operational risks.
  • Have an awareness of what lies beyond MiFID II go ‘live’ 3rd January 2018  for European Markets

Seminar Content:

  • MiFID II in Perspective
  • Exploring the New World of Market Structure
  • Greater Transparency Across Europe
  • The Role of  Reporting in the new Regime
  • MiFID Transaction Reporting
  • MiFIR Transaction Reporting
  • The Challenge of Implementation
  • Operational Oversight & Assurance
  • Regulatory Challenges and Governance
  • Moving Forward

 

For a detailed curriculum, please download the Seminar Content on the right.

Who should attend:

This workshop will be of benefit to anyone who is likely to be affected by the changes to be brought in by MiFID II and MiFIR Transaction Reporting, including senior management, legal, compliance and those employees at the coalface.

DATE: 13, 14 March

DURATION: 10 Hours

CPD UNITS: 10

LOCATION: EIMF Premises, Nicosia

TIME: 09:00 – 14:30

FEES: HRDA eligible €250, non-HRDA eligible €420 (both + €79.80VAT)

Syllabus

Download Course Content

Registration Form

Download Registration Form

You can register by sending the completed registration form above to info@eimf.eu or via fax to 2227 4475. If you need help completing the form, please give us a call at 2227 4470

In-House Training

If you would like to discuss bringing this or another topic to your organization on an in-house basis please call us at 22274470 or email us at info@eimf.eu.

Instructor: 

Vivienne Bannigan

Vivienne has a BA Jt Hons in Economics and Finance as well as an M.Econ.Sc in European Economics and Public Affairs and has gained professional qualifications in programme management. Additionally, Vivienne has over 17 years’ experience in the financial services sector, encompassing policy, operations, compliance and stakeholder and project management roles in leading industry institutions, including the Financial Services Authority (now the FCA), Royal Bank of Scotland and the BBA. Vivienne helps organisations and individuals develop the strategies and skills needed to address the regulatory, operational developmental and change management challenges they face. She has recently established her own company, Granuaile Limited, offering a fresh and unique approach to personal and organisational development. Additionally, Vivienne is currently studying Community Psychology at Brighton University.