Course Outline & Objectives
The Markets in Financial Instruments Regulation (MiFIR) Transaction Reporting regime is fundamental to supporting the Market Abuse Regime and the effort to maintain integrity in European markets, As such, it is a priority for the European regulators, including the Financial Conduct Authority (FCA). Regulators expect the Board and Senior Managers of financial insitutions to have ensured they have effective policies, procedures and processes in place to satisfy the new transaction reporting requirements.
This focused workshop will provide an opportunity for firms to review their implementation of the new rules and address the ongoing operational oversight and compliance challenges under the new regime.
Specifically, attending this course will enable you to:
- Analyse the changes to Transaction Reporting requirements under MiFIR and the procedural, compliance and oversight implications for your organisation
- Examine key MiFIR requirements including governance framework and controls, data quality assurance and testing guidelines
- Navigate compliance hotspots and 'grey' areas, including client identifier and short selling flag
- Consider how to manage outsourcing risk and due diligence with Third Party providers
- Review market and regulatory activity since implementation on 3 January 2018
Who will benefit?
This event will be of value to all of those involved in the day to day operation of transaction reporting in securities dealing firms, as well as those designing or specifying policies, processes and IT systems to support transaction reporting arrangements. This will include people in the following areas:
||Heads of Business
Vivienne Bannigan is a regulatory risk professional with extensive experience in Wholesale Capital Markets in both the public and private banking sector in the UK and global markets. She advises senior management on regulatory policy changes, facilitating the designing of business strategy and frameworks to manage the regulatory and operational risk. Vivienne has extensive experience of CASS and Transaction Reporting, having had a seat on all sides of the table as a regulator, a consultant, a Operations Compliance Director and most recently being the BBA’s lead policy director for members' response to MiFID II. Vivienne is passionate about sharing practical insights through education on how to consider managing regulatory risk. Vivienne has a BA jt Hons in Economics and Finance as well as a M.Econ.Sc in European Economics and Public Affairs. During her career she has gained professional qualifications in programme management.
|MiFIR Transaction Reporting
- The ‘What’ and ‘Why’ of Transaction Reporting
- Regulatory expectations and the implications for oversight
- Transaction Reporting, Market Abuse and Financial Crime
- What has changed under MiFIR: approach, field analysis and scenarios
|Interrogating MiFIR Transaction Reports
- Examining the new reporting obligations for firms
- Analysing some relevant fields
- How to navigate the ‘grey areas’ including client identifier and short-selling flag
- Exploring various scenarios
- MiFID vs MiFIR implementation
|Operational Oversight and Assurance
- Establishing an operational approach to ensuring compliance in the new regulatory environment
- Managing outsourcing risk and due diligence with Third Parties
- Transaction Reporting Systems changes
Regulatory Challenges and Governance
- Lessons learned from enforcement actions to date
- MiFIR Regulatory Requirements, including governance framework and controls, reporting data quality, assurance and testing guidelines
- Identifying the operational risks and controls
- Reporting failures: the areas firms need to focus on in their regulatory assurance programmes
- Oversight risks and the impact of the Individual Accountability regime
This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.