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: Managing Non-Financial Misconduct Under SMCR

Non-financial misconduct – encompassing behaviours such as bullying, sexual harassment, and discrimination is a key focus of the Senior Managers and Certification Regime (SMCR). The Financial Conduct Authority (FCA) has underscored that such misconduct is not only unethical but also poses significant risks to a firm’s culture and operational integrity. Recognizing the profound impact on...

BLOG

The US Litigation Paradox: Why Passive Participation is the Key for European Asset Managers

In the second blog of our series on securities litigation claims, we look at how the complexity of fragmented legal jurisdictions globally often deters European asset managers from getting involved in litigation and argue that the simplicity of the US system may mean participation is easier than many European firms are aware of. Access the...

EVENT

AI in Data Management Summit New York City

Following the success of the 15th Data Management Summit NYC, A-Team Group are excited to announce our new event: AI in Data Management Summit NYC!

GUIDE

Enterprise Data Management, 2010 Edition

The global regulatory community has become increasingly aware of the data management challenge within financial institutions, as it struggles with its own challenge of better tracking systemic risk across financial markets. The US regulator in particular is seemingly keen to kick off a standardisation process and also wants the regulatory community to begin collecting additional...