logo-eui RSCAS

MiFID II/ MiFIR: Evolution and Revolution

Qualitative

Registration deadline: TBC

 

  • General description

    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. This course, taught by experts from practice and academia, will address the main aspects of MiFID II and MiFIR, also in the light of their initial impact.

  • Topics covered

    • 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.

  • 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.

    Veerle Colaert holds the chair for financial law at KU Leuven University since 2011 and is co-director of the KU Leuven Jan Ronse Institute for Company and Financial Law. She has been a member of the Securities and Markets Stakeholders Group advising the European Securities and Markets Authority (ESMA) since 1 July 2016, a member of the Sanctions Commission of the Belgian Financial Services and Markets Authority (FSMA) since October 2016, and an expert member at the Belgian Commission des Assurances since October 2012. She is a member of the board of directors of the Belgian department of the European Association for Banking and Financial Law (AEDBF Belgium) and of the editing board of the leading Belgian review on company and financial law, TRV-RPS. From 2000-2005 she was an attorney at the Brussels’ Bar. In March 2010 she defended her PhD thesis on the relationship between the MiFID rules of conduct, consumer law and national civil law. She has published numerous articles and is a regular speaker at international and national conferences on financial regulation. Her main research interests relate to investor protection (MiFID, PRIIPs, IDD), deposit insurance and Banking Union, FinTech, and the interplay between different pieces of financial regulation.

    Matteo Gargantini is Assistant Professor of European Economic Law at the University of Utrecht. Previously, he worked at Consob, the Italian Securities and Exchange Commission, and at the Max Planck Institute Luxembourg for Procedural Law (as a Senior Research Fellow). He also worked in the Capital Markets and Listed Companies Unit of Assonime, the Association of the Italian joint-stock companies. Matteo holds a PhD in Law and Economics (Banking and Financial Markets Law) from the University of Siena, and in 2012 he received the Italian National Academic Qualification as Associate Professor (Law and Economics and Financial Markets Law). His main fields of research are capital markets, banking, and company law.

    Benoît Gourisse has worked for ISDA, the International Swaps and Derivatives Association, for more than 8 years as Senior Director of European Public Policy. He is notably dealing with clearing related issues (CCP supervision, CCP Recovery and Resolution), MiFID, European supervisory architecture and is leading the ISDA work stream on commodities in Europe and the EU effort on implementation of margin rules for non-cleared derivatives. He is the ISDA primary contact to the International Organization of Securities Commissions (IOSCO). Prior to ISDA, Mr. Gourisse spent five years at the French Banking Federation in Paris, where he was Deputy Head of Corporate and Investment bank department. In this role, he advised the executive management of French banks on issues relating to financial markets, corporate services, custodian activities, asset management and distribution of financial instruments to retail investors. He also worked for the French Savings Banks as head of legal department and for Société Générale as compliance officer. Mr. Gourisse has a Master Degree in tax and business law from Paris XI University.

    Diego Valiante is a senior officer and team leader at the European Commission (DG Financial Stability, Financial Services and Capital Markets Union, FISMA) and Adjunct Professor at the University of Bologna. Between 2009 and 2016, he was Head of Financial Markets and Institutions at the Centre for European Policy Studies (CEPS), among the top 5 European think tanks, and Head of Research of the European Capital Markets Institute (ECMI). He was also Member of the Group of Economic Advisers (GEA) to the European Securities and Markets Authority (ESMA) between 2014 and 2016. Before joining the European Commission, Diego advised several international organisations and institutional investors, including the European Parliament, European Commission and ECB. He is author of numerous publications in the fields of financial markets economics and regulation, banking, central banking and economic policies. He holds a Ph.D. in Law and Economics from LUISS University, a Joint LL.M. in Law and Economics from Erasmus University Rotterdam and Bologna University, a M.Sc. in Economic Analysis of Law and a B.Sc. in Business Economics from LUISS University Rome.

  • Prerequisites

    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.

  • Fees

    1750€ – Public Authorities (e.g. National Competent Authorities, Central Banks and European Institutions).

    1900€ – Private Sector.

    950€ – Academics (Full-time Professors, full-time PhD Students and full-time Research Associates). Please submit a certificate attesting your status of Professor, PhD Student or Research Associate to fbf@eui.eu before registering. FBF secretariat will provide you with a code to register. *Seats for academics are limited and assigned by the FBF secretariat on a case-by-case basis.

    The course fee covers coffee and lunch breaks. Travel and hotel costs are not included.

    Please note that the payment must be settled two weeks before the start of the course.



    CANCELLATION POLICY

    • In case a course is cancelled, registered participants will receive the full refund.
    • In case a course is moved to another date, registered participants have the following three options: request a voucher to attend another FBF course, transfer their registration to a colleague or request a refund.
    • Registered participants who have not yet paid the registration fee can cancel their participation until four weeks before the start of the course.

    For more details, please contact fbf@eui.eu
  • Practical information

    A certificate of attendance will be provided to all participants after the course.

    Accommodation 

    Please notice that the course dinner, and most of the social activities, will take place downtown.

    Recommended hotels in downtown Florence:

    Recommended hotels nearby the EUI:

    Suggested restaurants in Florence city centre

    Wi-Fi

    On arrival, participants will be provided with temporary wi-fi access for the whole duration of the course.

    Privacy Notice

    The personal information you have provided will be processed in compliance with the EUI Privacy Statement for conferences. For general queries: fbf@eui.eu

     

    General information on local transport

    From Florence airport:

    Florence airport is located 8 km from the city centre, approximately 30 minutes by taxi or bus. Taxis can be found outside the arrivals terminal; no reservation is needed. A taxi ride from the airport costs about €20 and takes approximately 25/30 minutes.

    A tramway (line T2) connects the airport to the city centre. Trains leave from the airport terminal and take 20 minutes to the main railway station. One-way tickets can be bought from vending machines for €1.50.

    The airport is also connected to the main railway station in Florence by a shuttle bus (‘Vola in bus’) that leaves every 30 minutes (on the hour and on the half-hour) and takes 25 minutes. Tickets are available on board for €6.00.

    From the central railway station:

    Take bus n. 7 at the bus stop Stazione Nazionale in the direction “Fiesole Piazza Mino”, get off at the stop ‘San Domenico 01’. For bus routes and timetables consult the official timetable.

    Bus tickets are sold outside the railway station, at ATAF ticket kiosks and vending machines, tobacconists (tabacchi), newspaper kiosks (edicole), and most cafès (bar). Bus tickets can be purchased also on board with a contactless credit card (Mastercard, Maestro, Visa and V PAY).

    Private car

    From the A1 Milano-Napoli (Autostrada del Sole), take the Firenze Sud exit and follow directions to the city centre/Stadio. Follow the directions to the stadium (Stadio), then for Fiesole. San Domenico is on the main road to Fiesole.

    The EUI has several free parking areas available all over the Campus.