Many US and Canadian banks are governed by MiFID II
Did you know that many US & Canadian banks are governed by MiFID II?
Are you one of them?
North American firms with subsidiaries, risk exposures and/or trade in European markets will have to meet the January 3 2018 deadline for MiFID II compliance.
One of the areas that European banks are finding difficult to address concerns MiFID II compliant digital record-keeping – specifically relating to digital or e-communications.
- What exactly is an e-communication, according to the Regulator? What else beyond email?
- Do interactions via your website, client portal, instant messaging, social media, and mobile apps count as e-communications? (The sheer breadth of e-communication platforms in use today adds complexity)
- What must you record? The entire communication, or just part of it?
- How long must e-communication records be archived for? And in what form?
Without the right systems in place, you may miss the MiFID II deadline, and risk penalties for non-compliance.
Want to get the answers and beat the January 2018 deadline?