MiFID II - Readiness, strategic responses and trends for 2018 | Deloitte Luxembourg | Inside article has been added to your bookmarks.
Level of readiness, strategic responses and major trends for 2018 in the wake of MiFID II
When the going gets tough, the tough get going...
Investment firms can no longer live off the fat MiFID II entered into force on 3 January 2018. Affected entities in Luxembourg took very different approaches to the MiFID II regulation in 2017, and the regulatory, strategic, and operational conseque nces are likely to take up a lot of their time in 2018 as well.
They have broken the back of the beast and are starting to see light at the end of the tunnel
Investment firms’ level of readiness
In 2017, most firms dedicated significant time, resources, and (in most cases) IT manpower to being MiFID II ready by the start of 2018. As a result, significant progress has been made regarding the level of regulatory compliance and communication to clients and staff.
1) Level of regulatory compliance of MiFID firms
The level of coverage of the regulatory constraints seems to be very high in Luxembourg.
2) Client communication and staff
Most actors view ensuring that clients and staff understand all of the strategic and operational changes in the context of MiFID II as a key element of MiFID II implementation.
Inside magazine issue 18, June 2018
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