MiFID II/MiFIR: Evolution and Revolution
Registrations open in late 2018
While building on the preexisting framework, the MiFID II/MiFIR package has strengthened the EU regime for investor protection, and market transparency and efficiency. The new rules have substantially affected the way banks and investment firms provide investment services and perform trading activities. The implications are remarkable both from a practical and a theoretical perspective. Whether at trading desks or at compliance departments, staff has to cope with a number of new requirements that foster the protection of the clients’ interests and the proper functioning of markets. As the academic analysis demonstrates, while building on the preexisting regime these requirements imply a radically innovative approach to financial markets regulation and supervision. This course, taught by experts from practice and academia, will give you a comprehensive overview of these main innovations in MiFID II and MiFIR, also in the light of their initial impact.
- Overview of MiFID II and MIFIR: services, activities, instruments, players, markets.
- Relationship with CMU & Brexit
- Scope and exemptions
- Governance of investment firms
- Duties of information
- Suitability and appropriateness test
- Best execution & client order handling
- Conflicts of interest and self-placement (including structural measures and remuneration)
- The new regime for inducements and independent financial advice
- Product governance & product intervention
- Regulated markets, MTFs, OTFS and systematic internalisers
- SME Growth Markets
- Pre- and post-trade transparency regimes
- Monitoring and compliance duties for regulated markets, MTFs, OTFs
- Algorithmic and high-frequency trading
- Relationship with MAR
- Public enforcement
- Private enforcement
- Regime for Third-Country Firms: MiFID II/MiFIR and Brexit
- Ensuring equivalent treatment of equivalent financial services: MiFID II and the IDD
What you will learn
After having completed the course, you will have an in-depth practical and theoretical knowledge of the main aspects of the new MiFID II/MiFIR framework.
How the course will work
Total course length: 12 hours.
The course will consist of face-to-face lessons and practical sessions.
A certificate of attendance will be provided to all participants after the course.
Meet the instructors
Danny Busch is Full Professor of Financial Law and Director of the Institute for Financial Law (IFL), University of Nijmegen, the Netherlands. Prior to that, he worked as an attorney-at-law for De Brauw Blackstone Westbroek in Amsterdam, a Dutch international law firm. He has published many articles and books on financial markets regulation, including Busch & Ferrarini (eds), Regulation of the EU Financial Markets: MiFID II & MiFIR, Oxford University Press 2017. He is extensively engaged in the provision of training to attorneys-at-law, financial regulators and financial professionals.
Matteo Gargantini works at Consob, the Italian Securities and Exchange Commission. Prior to that, he was Senior Research Fellow at the Max Planck Institute Luxembourg for Procedural Law. He also worked in the Capital Markets and Listed Companies Unit of Assonime, the Association of the Italian joint-stock companies. He holds the Italian National Academic Qualification as Associate Professor (Law and Economics and Financial Markets Law). He teaches Financial Market Law and Regulation at Luiss Guido Carli University in Rome.
BA/MA degree in Law, Economics, Management, Political Science or equivalent degree or experience. A basic knowledge of financial markets regulation is required to follow this course.
Information on course fees will be published in Autumn 2018.
On arrival, participants will be provided with temporary wi-fi access for the whole duration of the course.