MiFID - Implementation and Compliance

Net-Security Training includes MIFID, CISSP, Ethical Hacking, Penetration Testing, Security Awareness, Compliance, Sarbanes Oxley and Basel

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	Provisionally Book Course
Course Title:	MiFID - Implementation and Compliance
Code:	MiFID/107
Dates:	See Course Schedule
Duration:	3 Days
Fee:	Contact us for current prices
Description:	The Markets in Financial Instruments Directive (MiFID) is the most significant piece of legislation for the European securities markets. It will increase competition among exchanges, multilateral trading facilities (MTFs) and investment firms, giving them a "single passport" to operate throughout the EU on the basis of authorisation in their home Member State. Investment banks, portfolio managers, stockbrokers and broker dealers, corporate finance firms, futures, options and commodities firms not only work hard to comply and to meet the new regulatory requirements, but also to use MiFID compliance as a competitive advantage. On completing this course, delegates will have a comprehensive understanding of the various implications and be thoroughly equipped to help their organisation implement and comply with this directive.
Objectives:	The seminar has been designed to provide delegates with the knowledge and skills needed to understand and support compliance with the MiFID directive.
Target Audience:	This course is intended for managers and professionals from: • Compliance • Operations • Risk • IT • Legal • Internal Audit • Internal Controls • Trading • Portfolio Management • Hedge Funds and Alternative Investments • IT, Security and Management Consultants This course is recommended for the directors, managers and professionals who require a clear understanding of MiFID and the changes in financial markets after MiFID.
Prerequisites:	Other than specifics detailed under Target Audience, there are no pre-requisites.
Course Synopsis:	Introduction • European Union’s legislation: Directives and Regulations • The European Unions Financial Services Action Plan (FSAP) • From the Investment Services Directive (ISD) to MiFID MiFID and the Lamfalussy process • Level 1: Framework Principles • Level 2: Implementation of Principles. Detailed Technical Measures • Level 3: Strengthening Cooperation Among Regulators • Level 4: Enforcement MiFID: An Overview • From Know Your Customer (KYC) to Client Classification (CC) • Best Execution and Information to Clients • Order Handling • Suitability • Extended Passport: Services across Europe • Conduct of Business • Stock Exchanges compete with Trading Platforms and Investment Firms • Systematic Internalisers • Transaction Reporting across the EEA Definitions and Scope • How MiFID extends the coverage of the Investment Services Directive • Exemptions and Optional exemptions • Definitions • MiFID and options, futures, swaps, forward rate agreements Authorisation • Requirements and Scope • Relations with third countries Operating Conditions for Investment Firms • On-going supervision • Conflicts of interest • Conduct of Business (COB) obligations Rights of Investment Firms • Freedom to provide investment services and activities • Establishment of a branch • Access to regulated market Regulated Markets • Organisational requirements • Admission of financial instruments to trading • Suspension and removal of instruments from trading • Monitoring of compliance • Pre-trade and Post-trade transparency requirement MiFID and Corporate Governance • The impact of MiFID on corporate governance • The role of the board of directors and executive management MiFID: The Interpretations • From the Directive to the Interpretations and the Technical Measures • CESR: The Committee of European Securities Regulators • CESR - MiFID Level 2 Expert Group • CESR - MiFID Level 3 Expert Group • Level 4 challenges MiFID and the World • MiFID and the European Economic Area (EEA) • MiFID and countries outside the European Economic Area • MiFID and the USA: Similarities and differences between the Regulation for National Market System (Reg NMS) in the United States and the MiFID in EU MiFID and other Directives • Interaction between MiFID and other regulatory initiatives • MiFID, Basel ii and the Capital Requirements Directive • MiFID and the 8th Company Law Directive • MiFID and the Financial Conglomerates Directive • MiFID and UCITS iii • MiFID and the 3rd Anti Money Laundering Directive of the EU • Using MiFID data for compliance with other directives MiFID and Alternative Investments • MiFID and Hedge Funds • New challenge for Hedge Fund managers • Sophisticated onshore and offshore legal structures • A new pressure for Transparency • Minimizing regulatory, operational and compliance risks • MiFID and Mutual Funds • MiFID and mutual recognition of alternative investment products authorised under different regimes • Management and Administration of Alternative Investments inside and outside the European Union MIFID: Tomorrow • Increased competition • Pre- and post-trade transparency • New risks and opportunities • Hedge Funds and Alternative Investments after MiFID • The “Fund of Funds” opportunity for regulators
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