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Markets and Securities Services | Issue 46
2
As a reminder, the current timetable for implementation is . . .
Amanda Hale
Head of Regulatory
Services, Trustee and
Fiduciary Services, Citi
INTRODUCTION
Welcome to our MiFID II Special Edition of
Global Trustee and Fiduciary
Services News and Views
.
For Issue 46, we chose to focus on the key aspects and the latest
developments of MiFID II and MiFIR.
As many of our readers will be aware, MIFID II is a significant, multifaceted piece of EU legislation
that could have large-scale ramifications for the asset management industry. Many firms are in
the process of assessing the new requirements and the impact these will have on their existing
operating and distribution models, risk framework, IT infrastructure and financial position. With so
much complexity to manage amid a backdrop of continued regulatory uncertainty, we thought it
would be an opportune time to undertake an extensive survey of global asset managers to assess
industry progress and obtain an insight into the latest thinking on a wide range of MIFID II related
areas, including investment research, disclosure requirements and target market rules.
We hope you find the survey’s results an interesting snapshot of other firms’ thinking on this topic
and a useful benchmark for your firm’s preparedness against the wider asset management universe.
The survey can be found on page 32.
This Special Edition also includes a number of other related articles.
• The MiFID II investor protection requirements
• Commodities
• Algo, high-frequency trading (HFT) and direct electronic access (DEA)
• A view from the UK: which looks at the FCA CPs published in July and September
• MiFID II: the Information Management Challenge, including Clock Synchronisation
• Brexit, third country rights and segregated mandates
• Increased transparency requirements
• And the mandatory trading of derivatives
Transposition by
Member States
3 July 2017
Date of application for
MiFID II and MiFIR
3 January 2018