Markets in Financial Instruments Directive II (MiFID II)
The Markets in Financial Instruments Directive (MiFID) originally aimed to increase competition and integration in markets for financial instruments. After the financial crisis, it was evident that greater investor protection was needed.
The EU created MiFID II to broaden the scope to other financial instruments and trading venues. This extends to market participants and activities not previously regulated. Most of it is adopted into the FCA's Handbook.
Our Markets in Financial Instruments Directive II (MiFID II) Course explains the new MiFID II rules and what is required to comply with these rules.
- 45 Minutes
- All staff
- Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
Learning objectives
- Identify the aims and objectives of MiFID II
- Appreciate the measures being introduced to improve the governance regime, including product governance, remuneration, HFT, safeguarding client assets, trading and reporting obligations
- Take appropriate action to protect and give value to investors in relation to the provision of information and advice, suitability assessments, inducements, research, etc
- Maintain and keep appropriate records for financial transactions in line with regulatory requirements
What can you expect your employees to learn?
Welcome
What is MiFID II?
- Why is it important for you?
Client categorisation
Conflicts of interest
Inducements
- You make the call: What are the rules on the inducements?
Research
- RPA restrictions
Remuneration
Product governance
- What this means for product manufacturers
- What this means for product distributors
- What do you think: FCA intervention
- You make the call: Product governance rules
Suitability & complex products
- Appropriateness
- You make the call: Suitability & appropriateness tests
- Equivalent tests
- The rules on switching
Information disclosure to clients
- Scenario: Eva provides information
Investment advice
- Investment advice
- You make the call: Is it a personal recommendation or not?
Safeguarding of client assets
- You make the call: Is it a breach or not?
Best execution
Trading obligations
Transaction reporting
- Scenario: The rules on transaction reporting
Publication requirements for investment firms
- Publication requirements for liquidity providers
- You make the call: Delivering the best possible result for clients
Commodities and derivatives
High frequency algorithmic trading (HFAT) & direct electronic access
- Systems & controls for HFT & direct electronic access
- You make the call: The rules on HFT & direct electronic access
Market structure - systematic internaliser
Outsourcing
Record keeping
- You make the call: Record keeping rules
Complaints
Summary
Affirmation
Assessment
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Your questions, answered
Financial Crime
Common FAQs
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How can I ensure my employees understand and comply with our internal policies in relation to financial crime?
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Can you translate our content into other languages?
How can I give employees a secure way to record suspicious activity so we can act quickly?
Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.
What file types are supported by the Skillcast system?
Features |
Supported file types and details |
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File Exchange |
File types: PDF, Excel spreadsheets, Word documents, SCORM and xAPI files, and compressed zip files. Max file size: Default is 1GB, can be increased to a max of 2GB |
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SCORM files |
Versions: SCORM 1.2, SCORM 1.2 for Moodle, SCORM 2004 2nd, 3rd and 4th Edition. Max file size: 1024MB |
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xAPI file |
Max file size: 2GB |
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Videos |
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Images |
File types: jpg, png and gif. The file size should ideally be 100KB, but it can be up to 250KB |
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CPD evidence |
File types: Word, PDF, Excel and CSV. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB |
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Policy documents |
PDF or Word File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB |
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Offline activities evidence |
File types: PDF, DOC, DOCX, XLS, XLSX, CSV, PNG, GIF, JPEG, JPG, PPTX and MSG. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB |
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Client logo files |
File types provided by client: EPS, PDF, AI and SVG |
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Registers |
PDF, DOC, DOCX, XLS, XLSX, CSV, PPT, PPTX, POT, PPA, PPS, JPG, JPEG, PJEPG, PNG, BMP, GIF, MP4, MOV, WMV, CPTX, CP, TXT, ZIP and MSG files |
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Declarations |
JPG, JPEG, PNG, GIF, XLS and XLSX files |
