Who does MiFID 2 apply?
MiFID II governs the provision of investment services in financial instruments. It applies to investment firms, wealth managers, broker dealers, product manufacturers and credit institutions authorised to carry out MiFID activities.
Who is subject to MiFID?
MIFID II also applies to European providers of MiFID services in the European Economic Area (EEA)1, such as investment managers of pension funds, European firms which provide MiFID services and to a certain extent credit institutions.
What does MiFID II regulate?
MiFID II is a legislative framework instituted by the European Union (EU) to regulate financial markets in the bloc and improve protections for investors. Its aim is to standardize practices across the EU and restore confidence in the industry, especially after the 2008 financial crisis.
Where is MiFID applicable?
the European Union
MiFID is the Markets in Financial Instruments Directive (2004/39/EC). It has been applicable across the European Union since November 2007.
Who needs to report MiFID?
2. The core reporting obligation is that investment firms which execute transactions in financial instruments must report complete and accurate details of those transactions to their home competent authority as quickly as possible, and no later than the close of the following working day.
What are MiFID activities?
| LIST OF investment SERVICES AND ACTIVITIES | ||
|---|---|---|
| Reception and transmission of orders in relation to one or more financial instruments | Execution of orders on behalf of clients | Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis |
| ☐ | ☐ | ☐ |
| ☐ | ☐ | ☐ |
| ☐ | ☐ | ☐ |
What is the difference between MiFID and non MiFID?
The main difference between MiFID and MiFIR is that the directive (MiFID) sets out the goals that EU member states should strive to meet, whereas the regulation (MiFIR) imposes rules that all countries must follow. MiFID II is a legislative act that sets out goals that all countries in the EU need to achieve.
What are financial instruments under MiFID?
A financial instrument is an asset or evidence of the ownership of an asset, or a contractual agreement between two parties to receive or deliver another financial instrument (Commission Staff Working Document Impact Assessment Accompanying the document Commission Delegated Regulation supplementing Regulation (EU) No …
What is MiFID II and why should we care?
What is Mifid II, and why is it so important? Mifid II is one of the most ambitious and contentious reforms introduced by the EU in response to the 2008 financial crisis. It governs everything from where and how derivatives can be traded to measures to reduce volatility and police potential conflicts of interest among financial advisers.
What do you need to know about MiFID II?
– the target market; – information on the financial instruments in question and the associated risks; – information on costs and charges; – information relating to the provision of investment advice; – inducements; and – cross-selling practices.
What does MiFID II mean for investors?
MiFID II is a legislative framework instituted by the European Union (EU) to regulate financial markets in the bloc and improve protections for investors. Its aim is to standardize practices
What is MiFID and what does it mean for clients?
What is MiFID and what does it mean for clients? MiFID stands for the “Markets in Financial Instruments Directive”. This directive is a key part of a package of European Union laws aimed