Identify, Assess & Reduce Risks
The Markets in Financial Instruments Directive (MiFID II) Article 16 states that “An investment firm shall, when holding financial instruments belonging to clients, make adequate arrangements so as to safeguard the ownership rights of clients, especially in the event of the investment firm’s insolvency, and to prevent the use of a client’s financial instruments on own account except with the client’s express consent”.
Increased consumer detriment can arise when authorised firms default or exit the market. Poor records and ineffective segregation procedures create a slower, costlier and more uncertain outcome for the customer and associated reputational damage to European markets. This risk is increased during a recession or uncertain economic climate.
National Competent Authorities (NCAs) are increasingly putting pressure on firms to provide assurance that the firm’s clients are adequately protected and demonstrate compliance through the oversight controls ensuring that they are understood and implemented.
This workshop will provide delegates with an overview of these changes, impact assess what these requirements practically mean for firms and 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:
- Summarise the requirements for Safeguarding of client assets including funds belonging to clients.
- Explaining Regulatory concerns regarding client money and assets in respect of insolvency and their relevance to European market integrity.
- Illustrate lessons learnt from Enforcement and the impact of future regulatory changes including Brexit.
- Introduction to the Safeguarding of Client Assets
- Regulatory Requirements and the Protection of Client Assets
- New Approaches to Governance and Management of Client Assets
MiFID II introduces new requirements for oversight and that controls are both understood and implemented. This session examines the need for the appointment of an oversight officer and other requirements including:
- Demonstrate practical examples 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.
- Illustrate an approach to practically manage regulatory implementation within your organisation and the regulatory expectations.
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 – Safeguarding of Client Assets, including senior management, legal, compliance and those employees at the coalface.
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.