MiFID II is an EU regulatory framework aimed at increasing investor protection by creating a more effective, risk-aware and transparent market for investment services and activities.
MiFID II provides a comprehensive framework for the provision of investment services, such as brokerage, investment advice, portfolio management, and underwriting in financial instruments as well as revised rules for business execution in regulated markets.
MiFID II challenge areas
Stricter rules for product design, distribution and for investment advice
Pre- and post- trade transparency
Clear rules and transparency requirements for SIs, MTFs, OTFs
Internal organizational set-up and risk control
Stricter and extended rules for compliance and risk prevention
Recording devices and media
Using an effective Mobile Device Management (MDM) system, firms can ensure that only approved media channels are mobilized for relevant communications on recorded devices
Cognia’s carrier partners can enable caller notifications to be instigated for recorded devices
Disclosure of records
The Cognia platform enables recorded media to be rapidly accessed and shared quickly and securely with internal staff, and external advisors and regulators using time- bombed links and multi-factor authentication
The same policy and security controls — referred to as “Global Policy” — allows branches or departments to comply with local regulators, while enabling global oversight