MiFIR Transaction Reporting
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.
MiFID II/MiFIR which came into effect on 3 January 2018, is a new legislative framework which aims to strengthen investor protection and improve the functioning of financial markets making them more efficient, resilient and transparent. MiFID II and MiFIR introduced new provisions to enhance controls around the prevention of market abuse and to increase transparency in markets.
Investment firms which execute transactions in financial instruments must report complete and accurate details of these transactions to the relevant competent authority under Article 26(1) of MiFIR. The current Transaction Reporting regime, as introduced under the Markets in Financial Instruments Regulation (MiFIR), built substantially on the previous Markets in Financial Instruments Directive (MiFID) regime by increasing the number and types of instruments in scope, tripling the number of data fields required and increasing the level of complexity.
- Understand the Regulatory framework
- Know who, how, when and what needs to be reported
- Explain the importance of Transaction Reporting in the detection of Market Abuse
- Understand market Abuse with examples
- Challenges in MiFIR Reporting
- Elaborating technology to assist on the reporting obligation
Markets in Financial Instruments (MiFIR) – regulation (EU) no 600/2014
- Subject matter, Scope and Definitions
- Transparency for trading venues
- Transparency for systematic internalisers and investment firms trading OTC
- Transaction reporting
- Non-discriminatory clearing access for financial instruments
- Supervisory measures on product intervention and positions
- Provision of services and performance of activities by third-country firms following an equivalence decision with or without a branch
- Delegated and Implementing acts
TOTV and ESMA opinion
- Meaning of TOTV
- ESMA’s opinion on OTC derivatives traded on a trading venue
Transaction reporting and detection of market abuse
- Brief explanation
- Examples of market abuse transactions
Elaborating technology to assist on the reporting
- Practical review of a solution for reporting
- Monitoring the reporting
- Ensure correct reporting
- Ensuring that necessary updates are applied on time
- Getting the Compliance help and advice from your vendor
The programme will be delivered using a variety of learning methods. The programme will be participative, including short lectures supported by power-point presentations that aim to explain the main issues while providing the grounds for in-depth discussion and debate. Several case studies and examples will be used for hands on participation.
This programme may be approved for up to 5 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Professionals requiring CPD units to meet the education requirements for CySEC licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Financial Regulation, are advised to consider training subjects in categories that indicate CPD training in Financial Regulation.
Who Should Attend
The programme is ideal for:
- Managers and Senior Managers in Investment Firms
- Compliance Officers
- Internal Auditors
- Internal Lawyers
- External Auditors, Lawyers and Financial Consultants