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

CFTC File Format Change to Impact Futures Data Management Teams

For futures commission merchants, clearing members, proprietary trading firms, and banks with material futures and options exposure, the transition of CFTC Part 17 Large Trader Reporting to FIX Markup Language (FIXML) is a test of data management maturity. This change directly affects firms responsible for aggregating, validating, and submitting large trader position data, often across...

EVENT

TradingTech Summit London

Now in its 15th 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

Enterprise Data Management Europe 2010

he US may seem to be ahead of the rest of the world in terms of championing the data management cause with the inclusion of reference data focused items in the Dodd-Frank Act, but Europe is not too far behind. Senior European level officials such as European Central Bank (ECB) president Jean-Claude Trichet have taken...