Data integrity for MiFID II

Of all the regulation that has been issued by the European Securities and Markets Authority (ESMA) since the financial crash, MiFID II looks set to have the greatest impact.

Following on from MiFID I, whose aim was to introduce a harmonised transaction reporting regime across the EU, MiFID II takes things a strident step forward. This time the focus is on ‘market integrity’ – shifting the emphasis from detecting and investigating market abuse, to encouraging fair and orderly market functioning.

This white paper explores the differences between the orignal MiFID I and the new MiFID II; the challenges financial institutions will face; and who is responsible for trade reporting under the new regulation