Delivering MiFID II compliance, avoiding regulatory entropy and building plans for Brexit.
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As we enter the final six months before MiFID II goes live, most firms are busy executing programmes of work to achieve compliance. However, few will achieve 100% compliance by go-live and most are consequently prioritising activities. With the focus clearly set on compliance, Citihub Consulting believes that it is time to begin evaluating and planning for the period after the 3rd of January 2018 – both in the context of MiFID II but also the United Kingdom’s exit from the European Union.
In this paper, we consider three areas and recommend that decision makers should plan for continued investment and resourcing in MiFID II post go-live:
- Closing of compliance gaps as quickly as possible and the completion of supporting workstreams;
- Implementing control frameworks and strategies for minimising the risk of regulatory entropy;
- The close correlation between MiFID II and Brexit planning projects.