MiFID II: the essentials

This training session aims at making MiFID II understandable for each and every employee, whatever their role within the organisation.

We approach this topic using the client experience timeline as a basis to enhance the understanding of what concretely happens and how MiFID II impacts the daily responsibilities of every employee.

By the end of the training, participants will be able to:

• be aware of the purpose and main chapters of MiFID II;
• apprehend the overall impact of the new requirements and the options that are open to decision as per the original text;
• briefly explain what MiFID II means, its impacts and how the organisation will comply;
• clearly understand the risks at stake if they do not comply in their daily responsibilities.

1. Prospecting

• Type of prospective information
• Type of clients

2. Contracting

• The service contract
• Client identification
• Questionnaire

3. Servicing

• Different services and information to provide
• Impact servicing depending on the role

4. Reporting to client

• Information to provide
• Frequency

5. Reporting to regulator

• New reporting requirements

6. Recording

• Why, what, when, who

This course has been designed with the support and collaboration of Cécile Liégeois, Partner and is coordinated by Isabelle Willequet, Senior Manager at PwC Luxembourg.

Cécile has 23 years of professional experience in Luxembourg and has 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 on 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 areas of the financial sector (investment firms, support and specialised PFS), management companies and investment funds.

With 29 years of professional experience in the Luxembourg banking sector, Isabelle has cultivated a profound understanding of banking processes, associated risks, and the implementation of effective controls. She has successfully led numerous operational and regulatory-driven projects across several major banking institutions, showcasing her expertise and leadership in the field.