Preparing for MiFID II and its global impact with help from industry experts


Global market participants are racing to meet the 2018 deadline for Financial Instruments Directive (MiFID II). Beyond Europe, the market reforms are hitting home for U.S. financial markets, vendors, and financial services firms, which are overhauling operations and IT infrastructures.

Marianna Shafir—Smarsh Corporate Counsel and Regulatory Advisor—will participate in a panel during the Navigating the Maze of MiFID II conference in New York City. The conference focuses on the major impacts of MiFID II upon pre-trade data gathering, investor protections, post-trade reporting, settlement, and best execution—among other areas.

“MiFID II impacts the use of electronic communications and firms must retain records, including recordings of phone conversations, on fixed line or mobile devices, and all electronic communications, including email, social media, instant messaging, and SMS/text messaging,” said Shafir.

“Depending on the business and the country, some firms will need to make more substantial changes than others. However, even in the most heavily regulated countries, the MiFID II requirements on recording order-related communications and associated record-keeping bring the need for new procedures and policies.”

Shafir’s panel, MiFID II and Electronic Communications Records, takes a deep dive into the requirements—which covers voice communication via text, instant messaging, email, mobile, and social media interactions—for the recording of electronic communications that facilitate transactions.

“The conference provides the opportunity to discuss the sweeping changes that will transform global securities trading, and I look forward to providing insight that will help attendees ascertain the scope of the management problem for this requirement, and what organizations can do to achieve compliance,” Shafir continued.

The Navigating the Maze of MiFID II conference—presented by the Financial Technologies Forum—is Monday, September 18, 2017 at the Andaz Wall Street in New York City. Conference attendees have the opportunity to immerse themselves in the complexities of the new regulations and gather useful insights from subject-matter experts and peers. The MiFID II and Electronic Communications Records panel, which features Shafir, begins at 1:30 pm, EST. Follow the conversation on Twitter with the hashtag #FTFMiFID and at @FTFnews.

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