About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

FCA Issues Third Consultation Paper on MiFID II

Subscribe to our newsletter

The Financial Conduct Authority (FCA) has issued a third consultation paper on UK implementation of Markets in Financial Instruments II (MiFID II). The deadline for comments on the paper is January 4, 2017, just a year before the regulation takes effect.

The consultation paper – which you can access here – seeks views on proposed changes to the FCA handbook on MiFID II. It is split into two parts, the first covering conduct of business issues, and the second dealing with other matters that the FCA has not previously included in consultation papers.

Conduct of business issues that the FCA proposes to change or update in its handbook include inducements including adviser charging, inducements and research, client categorisation, disclosure requirements, suitability, appropriateness, dealing and managing, and investment research.

Other matters include product governance, knowledge and competence requirements, recording of telephone conversations and electronic communications, supervision, authorisation and approved persons, and guidance on scope changes in MiFID II, such as the inclusion of foreign exchange derivatives and commodity derivatives.

The paper notes which issues are expected to affect which type of financial firms and notes the impact of each issue on consumers.

The deadline for responses to the consultation paper is January 4, 2017, except for comments on supervision, authorisation and approved persons that must be submitted by October 31, 2016. The FCA will then consider feedback and publish a policy statement covering all aspects of its implementation of MiFID II in the first half of 2017.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to ensure employees meet fit and proper requirements under global accountability regimes

Fitness and proprietary requirements for employees of financial institutions are not an option, but a regulatory obligation that calls on employers to regularly assess employees’ honesty, integrity and reputation, competence and capability, and financial soundness. In the UK, these requirements are a core element of the Senior Managers and Certification Regime (SMCR). They are also...

BLOG

QuantCube Tackles ESG with Macroeconomic Data

Macroeconomic research specialist QuantCube Technology is targeting environmental, social, and governance (ESG) compliance with a new asset-mapping database aimed at helping financial institutions monitor the risk exposure of their physical assets. The tool focuses on the data gap faced by banks, insurance companies, asset managers, and corporates in assessing (ESG) risks at a granular level,...

EVENT

TradingTech Summit London

Now in its 14th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

High Performance Technologies for Trading

The highly specialised realm of high frequency trading without doubt is a great driver for a range of high performance technologies that are becoming essential tools for Wall Street. More so than the now somewhat pedestrian algorithmic trading and analytics/pricing applications that are usually cited as the reason that HPC is hitting the financial markets,...