Advise Technologies Releases MiFID II Regulatory Resource for Advise Notes

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Advise Technologies Releases MiFID II Regulatory Resource for Advise Notes

Advise Notes - MiFID II

Advise Notes - MiFID II

The Advise Notes MiFID II resource will speed the process, lower costs, and help ensure compliance by allowing users to quickly understand each topic across all documents."

Advise Technologies is pleased to announce the release of a comprehensive MiFID II resource for financial firms, service providers, and others affected by the Directive.

MiFID II (Directive 2014/65/EU) establishes and expands compliance obligations for investment firms, credit institutions, regulated markets, and data reporting service providers operating in the EU. A key MiFID II challenge is understanding the Directive because there is no single set of instructions or central regulation to consult. Consequently, compliance requires knowledge of guidance from multiple sources, including the European Commission (EC), European Securities and Markets Authority (ESMA), and each local regulator.

The Advise MiFID II resource is a cross-referenced and searchable index of this guidance organized by key topics, such as:

  • Algorithmic trading
  • Best execution
  • Clock synchronization (for recording reportable events)
  • Conflicts of interest
  • Legitimacy of inducements to be paid to/by a third party
  • Market making agreements
  • Position limits
  • Position reporting
  • Record-keeping obligations
  • Recording of telephone conversations and electronic communications
  • Transaction reporting
  • Transparency reporting

The MiFID II resource also includes a comprehensive glossary and can be accessed through Advise Notes, a portal that helps users understand compliance obligations via a user-friendly interface.

Many firms are currently undergoing a MiFID II compliance gap-analysis. Independently researching a topic requires finding all relevant documents from multiple sources, searching through each, and following all references across a large volume of text.

β€œThe Advise Notes MiFID II resource will speed the process, lower costs, and help ensure compliance by allowing users to quickly understand each topic across all documents,” said Olivia Marc, business development specialist at Advise.

Prior to its application date, multiple regulatory updates continue to refine the Directive, which adds complexity to the process. The Advise MiFID II resource is regularly updated as new materials are released.

MiFID II, in combination with MiFIR (Regulation (EU) No 600/2014), broadens the scope of MiFID I, covering additional types of investment services/activities and financial instruments, and increases market transparency for equity and non-equity instruments. It also introduces controls related to algorithmic trading activities and harmonizes the regime for non-EU firms to access the EU market.

In addition to MiFID II, Advise Notes also contains resources for AIFMD and other regulations. It is available on a subscription basis and is formatted for desktop and mobile devices.

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About Advise Notes

The Advise Notes portal is a single-source repository which contains details on the latest global regulatory developments. A drill-down functionality to access regulator source documents and regularly updated information ensures a streamlined workflow for various reporting obligations, including AIFMD, MiFID II, and others.

About Advise Technologies

Advise Technologies is a premier provider of reporting and compliance software for investment managers. With four flagship products – Notes, Consensus, Signal, and Vault – it provides innovative solutions to regulatory and operational challenges. Advise was founded in 2010 and is headquartered in New York with offices in major European financial centers.

For more information: http://www.AdviseTechnologies.com.

Contact:
John Bobis
+1 (212) 576 1170
info(at)AdviseTechnologies(dot)com

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John Bobis
Advise Technologies
+1 212 576 1170 Ext: 321
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