Markets in
Financial Instruments Directive (MiFID) Training and Presentations
Fully tailored training,
presented exclusively for your own people.
MiFID is a directive, indented to harmonise the European market.
But, it is now wise to spend so much money only for that. Every new
directive is (or should be) a new opportunity, a competitive advantage for
financial institutions.
MiFID
is not a “one size fits all” approach, applied uniformly in all
jurisdictions. It is different for the UK with the unique banking
sector and the common law tradition, and different for Germany
and France, which are so different even within their civil law traditions. It is definitely unique
for the Offshore Financial Centers, like the Cayman Islands and
Jersey, and challenging for the European Economic Area. Each country,
each bank, can use MiFID as a competitive advantage.
MiFID also means different things to different parts of the financial
organization and to different employees. Effective training must
always be customized to the needs of each individual group of
employees.
We can discuss your goals and objectives, and after that we can
choose some of the modules below, or develop for your organization
new modules (at no extra cost).
Course Title
Markets in Financial Instruments
Directive (MiFID): Implementation and Compliance Training
Objectives:
The seminar has been designed to
provide with the knowledge and skills needed to understand and
support MiFID compliance
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
Duration:
3 Days, 09:00 to 17:00
Course Synopsis:
Introduction
-
European Union’s legislation:
Directives and Regulations
-
The European Unions Financial
Services Action Plan (FSAP)
-
Markets in Financial Instruments
Directive (MiFID): A major step leading to the creation of a
single European Market in Financial Services
-
The Investment Services Directive (ISD)
that has been replaced by MiFID
-
From the ISD to MiFID: What is
different now
-
From “core” and “non-core”
investment services to “investment services and activities” and
“ancillary services”
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
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From Know Your Customer (KYC) to Client Classification (CC)
-
Best Execution and Information to Clients
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Order Handling
-
Suitability
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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, and
any other derivative contracts and “other derivative contracts
relating to assets, rights, obligations, indices and measures”
Authorisation
-
Requirements and Scope
-
Relations with third countries
Operating Conditions
for Investment Firms
-
On-going supervision
-
Conflicts of interest
-
Conduct of Business (COB) obligations
-
Obligation to execute orders on terms “most
favourable”
to the client
-
Client order handling rules
-
Tied agents
-
Transactions executed with eligible counterparties
-
Obligation to uphold integrity of markets, report transactions and
maintain records
-
Monitoring of compliance
-
Obligation to make public firm quotes
-
Pre-trade transparency requirements
-
Post-trade disclosure and transparency requirements
Rights of Investment Firms
-
Freedom to provide investment services and activities
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Establishment of a branch
-
Access to regulated markets
Regulated Markets
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Organisational requirements
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Admission of financial instruments to trading
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Suspension and removal of instruments from trading
-
Monitoring of compliance
-
Pre-trade and Post-trade transparency requirements
Competent Authorities
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Designation of competent authorities
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Administrative sanctions
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Extra-judicial mechanism for investors' complaints
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Professional secrecy
-
Relations with auditors
Cooperation between Competent
Authorities
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Obligation to cooperate
-
Exchange of information
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Powers for Host Member States
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Exchange of information with third countries
MiFID and Corporate Governance
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The impact of MiFID on corporate governance
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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
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MiFID and the European Economic Area (EEA)
-
MiFID and countries outside the European Economic Area
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MiFID and the Offshore Financial Centers (OFCs)
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MiFID and the USA
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MiFID and the Reg NMS: 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
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MiFID, Basel ii and the Capital Requirements Directive
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MiFID and the 8th Company Law Directive
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MiFID and the Financial Conglomerates Directive
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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
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New challenge for Hedge Fund managers
-
Sophisticated onshore and offshore legal structures
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A new pressure for Transparency
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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
Our Policy
Fixed fees, fixed terms. You know the exact final cost. Everything
is included in this price (expenses, flights, tax etc.). There is no
exception – you know exactly the cost. Consulting or training, it
will never cost more.
Example:
For George Lekatis, General Manager and Chief Compliance Consultant
of Compliance LLC.
Fee
for
Training:
US$ 13,800 for 3 days (and $ 2,000 for each additional day) - final
cost (any place in Europe, Asia or America, for teams from 2 to 50).
This fee includes tax, expenses, hotels, flights, everything.
For other trainers the
fee may be different.
Excellent Courses, Exceptional Venues
The role that the
environment plays in learning,
solving problems and thinking out of the box is often ignored.
In
terms of aesthetics and comfort, our venues are second to none.
Click
here
to see why
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Note
This web site has been prepared as a general guide and does not
constitute or offer legal, financial or other advice upon which you
may act or rely. Specific professional advice should be taken in
respect of any individual matter.
George Lekatis
General Manager and Chief Compliance Consultant
Compliance LLC |