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Here to help with Regulation and Compliance

Compound Growth

9th February 2016

MiFID II: Investment Managers have much to prepare for

The implementation of MiFID II is time tabled for January 2017 yet it seems highly likely that this will be delayed by 12 months. However, firms - especially Investment Managers - should ensure they do not ease up on their MiFID II preparations.

MiFID II: Investment Managers

The new MiFID II rules will bring with it a number of regulatory changes that will affect the financial services industry and none more so that Investment Managers.

Depending on a firm’s business and activities, Investment Managers are those more likely to be impacted by MiFID II’s reforms than any other sector within the industry.

Why will Investment Managers be affected by MiFID II?

MiFID II will see the reclassification of a number of products, including the distribution of funds and investment products as being ‘complex’. This is sure to have a big impact upon both the clients and service providers of investment management firms.

In addition, managers will need to review how they undertake their dealing activities since much fewer transactions will take place over-the-counter with more investment firms being treated as markets.

Furthermore, groups that contain firms with UCITS or AIFMD permissions will need to consider how the different elements of their business will interact.

MiFID II Support for Investment Managers

It seems that the volume of regulatory change in recent years has been phenomenal and many Investment Managers within the industry will no doubt still be absorbing last year’s CASS client money rule changes and before that, those of AIFMD.

The year ahead sees no ease to the pace of regulatory change, with UCITS V in March 2016, the new Complaints Handling rules being implemented in June 2016 and the new Market Abuse Regulation in July 2016 to name just a few. Whilst it may seem increasingly likely that the implementation of MiFID II in January 2017 will be delayed by 12 months, firms, especially Investment Managers should ensure they do not become complacent with their preparations.

If your firm is reviewing how MiFID II will impact your business and you require support or compliance assistance in planning for MiFID II implementation, please contact our experienced regulatory & compliance support team, who would be happy to help.

MiFID II for Investment Managers