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 Liégeois is a partner specialising in audit and regulatory matters within the Financial Sector industry, with over 25 years of professional experience in Luxembourg. She possesses extensive expertise in Luxembourg banking, payment, and investment firm regulations, including MiFID II, governance, compliance, outsourcing, DORA, SFDR, and PSD2. Cécile leads external audits of banks, financial sector professionals, and management companies, preparing regulatory reports and managing projects on new regulatory implementations with a focus on business, regulatory, and operational impacts. She also supports the establishment of new regulated entities or branches such as banks, MiFID firms, or payment institutions. Her client work includes audits, regulatory impact assessments, compliance assistance, AML reviews, and outsourcing framework evaluations.
• Isabelle Willequet is a senior manager with 29 years of professional experience in the Luxembourg banking sector, specialising in banking processes, associated risks, and the implementation of adequate controls. She has extensive expertise as a Project Manager, commercial support, and Business Risk Manager, with a strong background in internationally-oriented banking activities within a Group matrix organisation. Isabelle possesses deep knowledge of the 3 Line of Defense model and has led numerous operational and regulatory projects for major banking institutions. Her expertise includes banking regulations, internal controls, and project management, complemented by delivering MiFID training and providing regulatory assistance and business model advice to banks and investment firms.