Panellists at this IFLR event agreed: Mifid II,
Priips and other EU legislation focusing on derivatives will
give the market more headaches in 2017
|Chris Taylor, Alpha Structured
Products; Antoine Porcheret, BNP Paribas
2017 is the year where many organisations will have to
get their house in order in preparation for some landmark
pieces of EU financial legislation.
Key among these is Mifid II, a huge and complex piece of
regulation, which is expected to bring about increased
complexity and tremendous compliance costs. Personal
attestation and reporting of transaction data are issues that
are being hotly discussed now. Within large organisations,
complexity always seems to go up: the trade reporting
obligation covered a few pieces of data sent to the host
regulator but under the latest Mifid regime, there are 65
fields of data which need to be reported to the home regulator.
It's expected there will be significant reliance...