Our healthcheck tool has been designed to provide you with an effective way of reviewing the success of your MiFID II implementation.
What is it?
We have identified key MiFID II requirements and created a set of questions that focus on the main implementation activities. The questions give you a chance to review how you are doing and if there are any areas that need further work. If further work is needed then we can support you by assessing your current progress in more detail and providing you with a plan of action.
How does it work?
The MiFID II healthcheck tool is split into two different stages.
The first stage involves a discussion between Bovill and key members of your firm. Bovill representation will typically involve a consultant to facilitate the discussion, and act as a subject matter expert, and an associate who will record the outcome. Each area has a standard set of questions covering activities that are relevant to all the subjects, such as updating procedures or ensuring relevant staff are aware of the changes. Additional questions will focus on key aspects relevant to the specific subject.
The second stage is a more detailed analysis of those areas where further work has been identified based on outcomes from the first stage discussion. Bovill will work with you to review against the FCA rules and identify specific gaps.
An extract of the document is provided below as an example.
At the end of the process, you will receive the outcomes of stage 1 and 2 and a prioritised action plan that will help focus your MiFID II implementation. We can provide further support to help you implement your action plan.