MiFID 2: The essential checklist

Table of contents

• The Brexit effect
• Permissions and passports
• Onboarding process and client disclosures
• Charges and commissions
• Advising
• Dealing and managing
• Recording
• Reporting
• Other issues
• The key message

Article summary

Financial Services analysis: Most of the changes introduced by the revised Markets in Financial Instruments Directive (MiFID 2) will take effect on 3 January 2018. In the UK, changes to legislation are nearly finalised, changes to regulatory requirements are under consultation, and the Financial Conduct Authority (FCA) has issued its guide to applications and notifications and opened its application window. Firms that have not made complete relevant applications by the beginning of July risk not having the right permissions in place come 2018. In this article, Emma Radmore and Andrew Barber of Bond Dickinson LLP discuss the changes that will impact investment advisory and wealth management firms.