Description

Numerous regulations have appeared in recent years in the banking landscape. This course will introduce you to the main mechanisms of the MiFID 1 and MiFID 2 directives, directives which concern financial instrument markets. It will allow you to measure the challenges and business impacts.

Who is this training for ?

For whom ?

All banking/insurance functions relating to financial markets.

Prerequisites

It is recommended to have mastery of the functioning of financial investment markets to follow theMIFID 1 and 2 training

Training objectives

Know the main mechanisms of the MiFID 1 and MiFID 2 directives

Measure the business issues and impacts

Understand the organization of markets according to the principles of MiFID1

Understand the PSI/client relationship and client protection.

Training program

• MiFID History
  • Origins and economic context of the MiFID regulation.
  • Establish competition between places of execution of orders.
  • Harmonize the conditions of the service offering 'investment.
  • Facilitating the exercise of the European passport.
  • Organizing a pan-European surveillance system.
  • Exercise: Assessment of knowledge in the field of regulation.
• Overview of MiFID
  • The regulatory corpus of MiFID.
  • The challenges of MiFID.
  • The main aspects of MiFID.
  • The approvals.
  • Investment services and investor protection.
  • The organization of markets and price transparency.
  • Regulation.
  • Practical work Comparison of share purchase operations by an individual, a management company, a bank, a non-financial company.
• The principles of MiFID: organization of markets and protection of clients
  • Removal of the order concentration rule.
  • Types of recognized execution venues.
  • Pre-trade and post-trade transparency obligation.
  • Declaration of transactions to regulators.
  • Customer segmentation.
  • Principle of good conduct.
  • Information, duty of customer evaluation .
  • Best execution obligation.
  • Practical work Application of client evaluation criteria.
  • Determine the criteria for best execution.
• Redesign of MiFID: the principles of MiFID2
  • Post-MiFID1 findings and challenges of MiFID2.
  • The regulatory corpus of MiFID2.
  • Approvals.
  • Investment services and investor protection.
  • The organization of markets and price transparency (improving pre-trade and post-trade transparency).
  • Regulation.
  • Recognition of OTFs (Organized Trading Facility) for derivatives transactions.
  • Practical work Impact of OTFs on the conduct of derivatives transactions.