MiFID/MiFIR: key requirements (e-learning)
A digital tutorial from the MiFID certification e-learning suite, designed to support the regular update of general knowledge and competence around MiFID II requirements.
By the end of this course, participants will be able to:
- recognise the impact of the MiFID II regime on financial market participants and structures and par, including organised trading facilities (OTFs), systematic internalisers (SIs), derivative trading obligations, market access, and dark pools and broker crossing networks;
- identify how MiFID II aims to improve both pre- and post-trade transparency;
- recognise the importance of transaction reporting and governance under the MiFID II framework;
- quantify the impact of MiFID II on the various business lines of financial institutions.
Topic 1: market structure
Organised trading facilities (OTFs)
Systematic Internalisers (SIs)
Changes to the SI regime
Derivative trading obligations
Dark pools and broker crossing networks
Topic 2: market transparency
Topic 3: investor protection
Product governance: definition, target market criteria, regulatory requirements
Suitability and sustainability
Conduct of business: product coverage
Topic 4: transaction reporting
Purpose of transaction reporting
Scope of transaction reporting
Responsibility for transaction reporting
Approved Reporting Mechanisms (ARMs)
Topic 5: Other key requirements
Commodity derivatives: limits and trading restrictions
High frequency trading
High frequency trading: controls
Internal control and governance
Topic 6: Impact on business lines
Buy-side and sell-side impact
Third-country access: models
A qui s'adresse la formation?
Asset managers, client advisors, front-office representatives and other professionals in scope of the CSSF circular 17/665.
Cécile has 22 years of professional experience in Luxembourg and developed deep knowledge of Luxembourg banking and investment firms regulations, amongst other topics, internal governance, outsourcing arrangements (BPO/ICT/Cloud) and operational/ICT risk management. She is leading projects of new regulations implementation focusing on business, regulatory and operational impacts. Cécile has experience in the external audit (financial and regulatory audit) of entities of the financial sector, mainly in the banking industry, other professionals of the financial sector (investment firms, support and specialised PFS), management companies and investment funds.