Investment firms are obliged to offer best execution when executing orders on behalf of a client this principle applies to MiFID II financial products including equity, fixed income, derivatives and commodities. Best Execution aims to strengthen investor protection by making markets more efficient and transparent.
Best execution is the obligation when acting on behalf of a client, to take all sufficient steps to obtain the best possible result for the execution of the client orders, having due regard to the wider market in any relevant instrument. The execution process has to be reflected in an execution policy, which must specify the execution venues, and, where derivatives are concerned, must address and distinguish between Exchange Traded products and Over-The-Counter (OTC) products. Firms and Trading Venues have ongoing requirements to produce reports for their clients and provide ongoing monitoring.
The workshop will examine the requirements and explore the organisational arrangements that firms will need to consider.
This workshop will provide delegates with an overview of the regulatory requirements and impact assess what these requirements practically mean for firms UK firms impacted by MiFID II Best Execution requirements. The workshop will explore the risks that firms will need to consider in order to maintain compliance with the requirements particularly during times of economic and political change.
Attending this workshop will enable you to:
- State the practical considerations for investor protection including to take all “sufficient” steps to achieve the best possible results for clients.
- Explore what constitutes “Best Execution” in the context of scope; policy; disclosure and monitoring.
- State the new requirements for investment firms and trading venues.
- Presenting a model framework which promotes an appropriate approach to addressing conduct risk.
- Demonstrate that firms have complied with their execution policy and being able to demonstrate compliance to national competent authorities.
- Demonstrate practical examples from EU National Competent Authorities enforcement actions and case studies.
- Explore how firms manage outsourcing risk and due diligence with third parties.
- Explain a framework to practically manage regulatory change within your organization to for meeting regulatory expectation
This workshop is designed to be participative throughout. The agenda will combine key formal presentations, case studies and syndicate discussion sessions. There will be ample opportunity for delegates to benchmark experiences with industry peers and raise issues of most concern to their organisation, either confidentially or in open session.
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 – Best Execution, including senior management, legal, compliance, third line assurance and those employees at the coalface.