MiFID II increases the demands on financial service providers in order to enhance investor protection and increase transparency. The regulation concerns topics such as product governance, client classification, suitability & appropriateness in the advisory process, transparency on costs and charges (incl. inducements), trading, and records management.
Client benefits
- Increased suitability & product governance standards ensure that clients invest only in financial instruments that fit their needs.
- Minimising legal and process risk (incl. reputational risk) for financial institutions serving EEA-domiciled clients.
finalix contribution
- Implementation of the MiFID II requirements for a major Swiss universal bank, a Swiss cantonal bank, and private banks.
- Functional expertise through business analyses and implementation leads in various topics of the advisory process (e.g. client classification, suitability & appropriateness, product governance (incl. target market), costs & charges, client reporting).
