20 March 2017 MiFID II: Product Governance

This month we are featuring the third in a series of MiFID Busters. Each edition will explore a MiFID II theme, setting out the key changes and practical implications for financial institutions. The March MiFID Buster focuses on the requirements around product governance.

Screen shot of MiFID Buster document 16 February 2017 MiFID Buster: Telephone and electronic recording

This month we are featuring the second in a series of MiFID Busters. Each edition will explore a MiFID II theme, setting out the key changes and practical implications for financial institutions. The February MiFID Buster focuses on the rules governing telephone and electronic recording.

Gavel and money 7 February 2017 Mirror trading steals the headlines, but the control failings sound all too familiar

The recent fine (£163m in the UK, $425m in the US) of Deutsche Bank AG (Deutsche Bank) emphasised some key messages for firms to take heed of. The fine related to facilitating a scheme of suspicious securities trading, termed as ‘mirror trading’, which enabled customers to transfer $10 billion out of Russia into overseas bank accounts. In addition to the fine, which is the largest of its kind ever levied by the UK regulator, Deutsche Bank must engage an independent monitor selected by the New York Department of Financial Services under the Consent Order, to conduct a comprehensive review of its anti-money laundering (AML) framework.

Screenshot of MiFID Buster document 20 January 2017 MiFID Buster: Investment research

This month we are launching the first in a series of MiFID Busters. Each edition will explore a MiFID II theme, setting out the key changes and practical implications for financial institutions. The January MiFID Buster focuses on the much discussed investment research requirements, and is an essential read for firms who issue investment research in the UK and Europe.

27 March 2015 Fourth Money Laundering Directive: start planning

4MLD will bring a sharper focus to risk-based approaches to the prevention of money laundering and terrorist financing – introducing more targeted and effective measures to counter these risks. Compliance will be required in 2017, but there is plenty firms can, and should, do now to prepare.

Bovill briefing note 20 June 2014 Living with personal liability

Understanding the FCA’s expectations and your personal obligation is now more important than ever. By taking an active approach to personal liability you can ensure long term stability and minimise your risk of prosecution.