MiFID II: Total Recall – NOW! Or the last Criterion? – Part 1

Firms need to overcome the ambiguity of MiFID II rules and their interpretation, in so far as how it applies to them. One of the biggest problems in the run up to implementation has been exactly this. The lawmakers of MiFID II have left it that open, supposedly so there is enough flexibility in variations of applications. However, this very aspect which is supposed to be a positive, has led to a lot of confusion amongst firms because they simply don’t know where they sit amongst the rules. Therefore, what is critically required in this eleventh hour of implementation is flexibility, so firms can ready themselves and not get caught out and ultimately fined. Taking a risk and compliance viewpoint, this is part one of three part whitepaper on MiFID II.