Mifid II 

Guide to regulatory changes

  • Find out what advisers need to know about Mifid II and GDPR
  • Learn about some of the actions advisers can take to ease the impact of the rules
  • Learn about other regulatory reforms that are on the horizon
CPD
Approx.60min
Guide to regulatory changes

Introduction

As a juggernaut-sized piece of regulation, just the words Mifid II had many in the industry quaking with anxiety over the sea change that was going to hit the industry, in early 2018. Seven years in the making with a text containing 1.7 million paragraphs, it has touched every part of the financial services sector.

If that was not enough to cause the palms of advisers, asset managers and providers up and down the country to sweat, new data laws from Europe also arrived on UK shores in May this year, changing the way customer data is to be handled by every business in the country, not just those in financial services.

Mifid II and the General Data Protection Regulation (GDPR) are just two in a large basket of regulatory reforms to affect the advisory sector.

In this guide, read about what advisers need to know about Mifid II and GDPR, some actions advisers can take to ease the impact of the rules and other regulatory changes that are on the horizon.

This guide is worth an indicative 60 minutes of CPD.

The following are contributors to this guide: Rob Walton, chief operating officer at intelliflo; Guy Vanner, managing director at AKG; David Varney, lawyer at Burges Salmon; Gareth Malna, lawyer at Burges Salmon; Umar Mohamad, consultant at Bovill; Maurice McDonald, consultant at Bovill; Richard Nuttall, head of compliance policy at SimplyBiz; Elizabeth Budd, partner at Pinsent Masons; Tobin Ashby, partner at Pinsent Masons; Chris Egbunike, managing consultant at Bovill; Keith Maner, head of compliance at Thistle Initiatives; Financial Conduct Authority.

Ima Jackson.Obot is a features writer for FTAdviser and Financial Adviser

In this guide

CPD
Approx.60min
  1. Under Mifid II's disclosure of costs and charges rule, what must the disclosure be accompanied with?

  2. True or false, Mifid II's new product governance rules only apply to the manufacturer.

  3. According to Keith Maner, how is GDPR being thought of as an opportunity?

  4. According to Guy Vanner, why should advisers consider the implications of Solvency II?

  5. What are the components of the Senior Managers and Certification Regime?

  6. The Senior Managers and Certification Regime is due to kick in for solo regulated firms on:

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Find out what advisers need to know about Mifid II and GDPR
  • Learn about some of the actions advisers can take to ease the impact of the rules
  • Learn about other regulatory reforms that are on the horizon

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