We already know that the way capital markets operate in Europe will change fundamentally. Learning both from the deficiencies of the original regime and from the financial crisis, the key goals are to radically strengthen both market integrity and investor protection, while ‘future-proofing’ the regime where possible. PwC can partner you through the coming months, providing insights and perspectives as the full regime comes into focus. We can mobilise multi-disciplinary teams bringing together skilled strategy, change management, operational efficiency, IT, tax, legal and regulatory specialists with extensive knowledge of global and European securities markets to help you address the challenges and realise the opportunities that MiFID II can bring.
To further enhance the our clients approach to MiFID we have developed a MiFID II App that reduces the complexity of the MIFID compliant sales process, addressing all stages of customer journey that are regulated by MiFID II, including category assignment and customer. To find out more about the app and its installation please fill out a request for services form.
The app provides CRM / transactional systems with valuable insights about customer’s risk profile, appropriateness & suitability and target markets. It within 3 months thanks to agile implementation approach and combination of pragmatism, specialist MiFID knowledge and IT competences the can be fully implemented within three months.
Following the global financial crisis, the European Commission (EC) decided to review the MiFID framework. The resulting revised Markets in Financial Instruments regime (MiFID II/ MiFIR) will be a challenge to all those operating in European securities markets while presenting significant opportunities as well.
In order to best serve our clients PwC have developed a number of propositions to assist in not only satisfying the new regime, but turning MiFID into an operating advantage.
To find out more on these and other propositions – please contact Winn Faria or your local MiFID Territory lead.
MiFID II will introduce the most significant changes to the conduct of financial services and the market environment since the commencement of the EU Commission’s Financial Services Action Plan. It will affect all categories of dealing, broking, asset management and advisory services undertaken by banks, non-banks, other service providers and also their corporate, institutional and retail customers. MiFID II’s far reaching requirements will have significant impact on how a firm conducts its business post January 2018.
Keep up to date with PwC’s latest thinking around the ongoing developments.
With less than a year to go before the implementation date of 3rd January 2018 and due to its scope and likely financial impact, the true implications of MiFID II are strategic in nature. Regulatory uncertainty and competitive response will cause firms to re-evaluate certain business decisions during implementation
Additionally, given the number of technical measures and guidelines expected as well as the variety of impacts anticipated on all industries segments, a swift and systematic approach for the MiFID II is deemed necessary.
With the MiFID II framework the EU has expanded the reach of the regulation, i.e. the guidelines are relevant for (i) financial intermediaries and distributors of financial products, (ii) the financial markets and execution venues and, this is clearly a move up the value chain, (iii) the manufacturers of financial products.
European MiFID Network Leader
Tel: +49 69 9585 2115
France MiFID Network Leader
Tel: +33 (0) 1 5657 8935