Many US and Canadian banks are governed by MiFID II

By
Lucy Heavens
August 9, 2017
Blog

 

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?

Download the factsheet to learn more.

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