Conflicts of interest in financial services firms—post MiFID II implementation
Conflicts of interest in financial services firms—post MiFID II implementation

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Conflicts of interest in financial services firms—post MiFID II implementation
  • MiFID II conflicts of interest requirements
  • Conflicts of interest rules applying from 3 January 2018
  • Application of conflicts of interest rules from 3 January 2018
  • Provision of services
  • What is a conflict of interest?
  • Identifying conflicts
  • Types of conflict of interest
  • Conflicts of interest policy
  • Record of conflicts
  • More...

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance, see Practice Note: The impact of Brexit on the MiFID II regime.

This Practice Note examines:

  1. the conflicts of interest requirements in:

    1. the recast Markets in Financial Instruments Directive 2014/65/EU (MiFID II), and

    2. a MiFID II Level 2 measure, Commission Delegated Regulation (EU) 2017/565 (the MiFID II Organisational Regulation), and

  2. the rules and guidance on conflicts of interest (the conflicts of interest rules) which apply to firms with effect from 3 January 2018 (the date of implementation of MiFID II) as set out in:

    1. the MiFID II Organisational Regulation, and

    2. the Senior Management Arrangements, Systems and Controls sourcebook in the Financial Conduct Authority (FCA) Handbook (SYSC), as amended in part to reflect the requirements of MiFID II and the MiFID II Organisational Regulation

MiFID II and the Markets in Financial Instruments Regulation (EU) 600/2014 (MiFIR) entered into force on 2 July 2014. The majority of the provisions of MiFID II and MiFIR have effect from 3 January 2018.

MiFID II and MiFIR together replace the Markets in Financial Instruments Directive 2004/39/EC (MiFID).

For

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