MiFID II in Focus: 2017 Seminar Series

This presentation hosted by Dechert, BNP Paribas and DMS looked at MiFID II and its impact on U.S. managers.

MiFID II provides for more detailed requirements than those set out in MiFID I regarding the internal organisation and governance of firms and the compensation and responsibilities of a firm's management body. This session looked at internal organisation and governance, with a particular focus on management body composition, new product governance and record keeping requirements, additional complaints handling and compliance obligations, conflicts of interest and remuneration.

MiFID II introduces a new marketing regime that will apply to the production and distribution of any financial product through MiFID channels. New compliance procedures will need to be designed and embedded in firms' practices, and firms will need to identify where current practices will need to be changed. Following Part I of this session held in November 2016, this seminar looked at point of sale and periodic disclosure, aggregate costs disclosure, non-advised sales and independent advice.

MiFID I introduced a comprehensive best execution regime. MiFID II will impose a number of new and enhanced obligations on firms when it comes into force in January 2018 which seek to increase investor protection. This seminar focused on the changes to best execution, specifically the changes from MiFID I, new public disclosure rules, FCA transposition and demonstrating and monitoring compliance.

MiFID II introduces a new marketing regime that will apply to the production and distribution of any financial product through MiFID channels. New compliance procedures will need to be designed and embedded in firms’ practices, and firms will need to identify where current practices will need to be changed. This seminar covered the scope of the new requirements, product design and distribution channel rules and inducements in sales transactions.

MiFID II introduces a major change to soft commission practice in the EU. MiFID II investment firms that provide portfolio management services will have to conform to the new MIFID II requirements which ban paying for services out of dealing commission. Investment firms will need to examine their practices carefully to identify where adjustments must be made. This seminar provided attendees with an outline of existing practices, a detailed overview of new rules for dealing commission and a look at how the new rules are likely to affect current practice and what managers will need to do to prepare.

This webinar provided an overview of the MiFID II regulation, with a particular focus on areas that will most directly affect US investment advisors and managers.

This seminar provided an overview of the new MiFID II legislation, with particular reference to its impact on asset managers. A number of key areas were covered including firm governance and compliance, dealing commission and inducements, product manufacturing, distribution and disclosure, investor protection and transaction reporting.