This guide outlines the essential steps for aligning your business with the directive’s mandates. Firms must invest in scalable systems capable of storing vast amounts of transactional data for the mandatory retention period, which typically spans five to seven years.
Proactive Compliance MiFID II Strategy: Key Steps for Senior Management and Best Execution
Client interests must always be prioritized, particularly when managing conflicts of interest. Senior Management must take direct responsibility for the integrity of the firm’s conduct of business and risk management functions.
This necessitates the implementation of sophisticated order routing and aggregation systems that can access a wide range of liquidity sources, including systematic internalisers and dark pools. The primary goals are to ensure the best execution for clients, increase transparency regarding costs and holdings, and strengthen the oversight of algorithmic trading.
Proactive Compliance MiFID II Strategy for Firms
This involves designating specific individuals with authority and competence to oversee regulatory adherence. Regular training programs are essential to ensure that all staff members understand their roles and responsibilities.
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