Learning Objectives

This course offers an in-depth examination of the following topics:

  • Understand the key principles and objectives of MiFID II, including investment services, financial market products, investor protection and market transparency.

  • Analyze real-world scenarios to grasp the practical implications of MiFID II regulations on financial institutions.

  • Master the requirements for cost transparency, relevant conversation recording, best practice, inducements, suitability and appropriateness, and key information documents under MiFID II.

  • Develop proficiency in risk analysis methods and conflict of interest management strategies compliant with MiFID II.

  • Length

    1 day

  • Form

    online live

  • Difficulty

    basic/advanced

Course Description

Understanding MiFID2 EU Bank Regulation

In the ever-evolving landscape of financial markets, staying on top of regulatory changes is not merely a choice - it's a strategic imperative. One of the most crucial regulations is the EU Markets in Financial Instruments Regulation & Directive, commonly known as MiFID II. This comprehensive set of measures fortifies investor protection, enhances trading transparency, and instills a robust framework of rules, guiding financial institutions through the complexities of a dynamic and interconnected market.

Live course with a lecturer

This is Bearning's live interactive course with a lecturer. You can attend as follows:

  • 📅❌ If no specific date is listed for the course, then we currently only offer this course as an inhouse course for institutions or groups of participants (3+ ). Contact us by email for more information. We are always happy to tailor this course to your requirements. We can deliver it online or in person.  
  • 📅✅ If the course is listed for a specific date, you can sign up for it by registering and paying the fee. We will confirm your registration for the course and send you a link to connect (usually via Zoom or MS Teams) and a PDF of the presentation prior to the course. You can also register for the course by email, or you can contact us for further information. Course content and further details can be found on the course page. 

Who Should Attend

Target Group

  • Compliance Professionals: Conduct Compliance Officers, Compliance Analysts, Regulatory Compliance Specialists Risk Management and Treasury

  • Operations, Middle-Office & Back-Office: Operations Managers, Middle- and Back-Office Analysts, Settlement Specialists

  • Front Office Professionals: Retail, SME, Corporate, and Private Banking Managers, Investment Advisors, Traders and Treasury Experts

  • Other Bank Professionals: Risk Managers, Treasury Managers, Financial Risk Analysts

Content

  • Introduction to MiFID and Its Evolution: Overview of MiFID I and the driving forces behind the introduction of MiFID II; Key changes and enhancements in MiFID II.
  • European Supervision and the Role of ESMA: Understanding the role of the European Securities and Markets Authority (ESMA); European supervision of securities and markets.
  • MiFID II Documentation Essentials: Documentation requirements under MiFID II; Practical insights into compliance documentation for various financial activities.
  • MiFID II Instruments and Services: Classification and understanding of different financial instruments; Overview of investment services covered by MiFID II.
  • Financial Instrument types and risks: description of different financial instruments types, understanding their financial risks with focus on investors protection. 
  • MiFID II areas and key general obligations: 
    • Affluent clients categorization
    • Transactions reporting, Post-Trade Transparency, Trading Obligations 
    • Guidelines and compliance for providing investment advice; Understanding the nuances and compliance requirements of non-advisory business.
    • Cost Transparency: Examining challenges and solutions in achieving cost transparency.
    • Inducements and Investment: Unpacking regulations around inducements; Guidelines for providing investment recommendations and ensuring suitability.
    • Best Execution: Strategies for achieving best execution.
    • Investment Products Governance: Governance structures for investment products; Meeting regulatory expectations for product governance.
    • PRIIPs and KIDs: Overview and significance of Packaged Retail and Insurance Products (PRIIPs); Understanding Key Information Documents and their role in retail communication; Marketing documentation.
    • Overview of organizational requirements for investment firms; Strategies for managing compliance and conflicts of interest.
    • Recording and Archive of Communication: Requirements and best practices for recording and archiving relevant communication; Tech. solutions and compliance considerations.
    • Incentives, Knowledge, and Competence: Guidelines for designing incentive schemes in line with MiFID II; Variable remuneration best practice; Ensuring knowledge and competence across the organization.
    • Advice-Free (Execution-Only) Services: Appropriateness Assessment Explained, Handling Non-Suitable Investments and execution despite warnings.
    • Investment Advisory Services: Exploring how assessments are conducted. Target market and negative market definition.
    • Portfolio management as a discretionary service of investment firms. 
    • Disclosure obligations SFDR (Sustainable Finance Disclosure Regulation): important intersections with MiFID II, particularly concerning sustainable finance and environmental, social, and governance (ESG) factors.
    • Excursus: Automated trading systems: MTFs (Multilateral Trading Facilities) and OTFs (Organized Trading Facilities); Importance and practical considerations of algorithmic trading; 
    • Synchronizing business clocks; Addressing timestamp requirements in trading activities.

Instructor

CEO, Bearning Martin Macko

Martin started his career in banking in 1994 as an MM&FX Treasury trader. Later he was appointed Treasury Director and Chairman of ALCO at a subsidiary of an international banking group. In 2007, Martin founded a consulting company. Later, Bearning expanded its activities to include professional banking education in the areas of ALM & Treasury, financial markets, risk management, fintech and digitalization. Martin holds several degrees and qualifications: Ing. (equivalent to M.Sc.) from the Slovak Technical University, ACI Dipl. (ACI Dipl.) from the Financial Markets Association, Financial Modeling & Valuation Analyst (FMVA)® and Certified Banking & Credit Analyst (CBCA)™ and Capital Markets & Securities Analyst (CMSA)® from the Corporate Finance Institute.

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