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

A-Team Insight Briefs

MiFID ESG Requirements go Live, Compliance Caution Urged

Subscribe to our newsletter

The ESG reporting requirement under the amended Markets in Financial Instruments Directive (MiFID II) came into effect this week, with warnings from some market participants that the new regulation would add more costs and challenges to compliance teams. Financial infrastructure and data provider SIX, however, said the obligations needn’t overwhelm firms.

“Regulatory complacency is unwise for firms at this time, as the introduction of additional ESG requirements could add ongoing MiFID compliance issues. However, much of the sustainability data and criteria needed to comply with the suitability requirements under the MiFID II update is the same as that housed already for the EU SFDR and the Green Taxonomy,” said Janine Hofer-Wittwer, Senior Product Manager of Financial Information at SIX. “For market participants, the goal is to work with data providers able to source and distil the data and provide it in a way that is easy to implement, minimising the lift needed for the latest and future ESG regulatory requirements.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Proactive RegTech approaches to fighting financial crime

Financial crime is a global problem that costs the economy trillions of dollars a year, despite best efforts by financial services firms, regulators, and governments to stem the flow. As criminals become more sophisticated in how they commit financial crime, so too must capital markets participants working to challenge criminality and secure the global financial...

BLOG

RepRisk Roundtable London: Tackling Hidden Sustainability Risk in Private Markets with AI

Sustainability risk is moving into the core of capital markets decision-making, closely tied to conduct risk, counterparty exposure and reputational impact. For senior leaders across risk, investment, compliance, sustainability, and supply chain functions, the question how to interpret complex signals from vast quantities of data and apply them with confidence in credit, investment, and operational...

EVENT

RegTech Summit New York

Now in its 10th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Alternative Trading Systems Directory 2010

The year since we launched our first edition of the A-Team Alternative Trading Directory has passed by in a flash (no pun intended). And while the rate of expansion of the alternative trading system sector may have slowed – even consolidated somewhat – in the more established centres, their onward march continues both in terms of credibility, and of uptake...