MiFID II came into force just over one year ago, bringing over 30,000 pages of regulation with it. While asset and wealth managers achieved a great deal in preparation for go-live and throughout the year, it is fair to say the journey has just begun. Compliance is an evolving process that definitely did not end on 3rd January 2018…
In our work with our clients, we see ongoing challenges in areas such as trade and transaction reporting, research unbundling, best execution, transparency, governance and costs and charges. Not only to demonstrably achieve minimum requirements, but also to establish sustainable and strategic solutions, capable of satisfying the needs of the business, senior management, regulators and clients.
With the FCA increasing its focus on MiFID II and the Senior Managers & Certification Regime less than a year away, tolerance for failures is decreasing and firms are expected to evidence robust compliance or demonstrate material investment to close any remaining gaps.
As the leading consulting firm for the asset and wealth management sector, we continue to support firms assess adherence to regulation (and avoid the FCA finding problems before the firm does), deliver any remediation effort and optimise operating models, taking advantage of technology and improved data management strategies.