AIMA Publishes MiFID2 Guide

The Alternative Investment Management Association (AIMA) has published a
guide for investment managers to help them understand and implement the
requirements of the European Union’s updated Markets in Financial Instruments
Directive (MiFID2), which will apply from January 2018.

The guide received significant input from leading law firm Schulte Roth
& Zabel, who are also sponsors of the guide.  

AIMA says
the MiFID2 Guide aims to provide investment managers with a better
understanding of which aspects of MiFID2 are relevant to them, what the rules
require and what practical steps they can take to ensure compliance with the
new framework.

It adds
that MiFID2 represents the most significant overhaul of European securities
trading rules of recent years. It will bring many changes for investment
managers, including how they pay for research, what they must report to
regulators, taping of telephone calls and best execution. Any firm that trades
on European venues or interacts with European counterparties will be impacted
by MiFID2 to some degree, regardless of where that firm is established.

“We know
that MiFID2 is now top of the list when it comes to members’ regulatory
implementation work in Europe for 2017 and hope that the guide will help them
make sense of MiFID2 requirements and what they should be doing right now,”
says AIMA’s CEO Jack Inglis. “With January 2018 now visible on the horizon,
there is much for the industry to do, so our hope is that this will be a
central resource for our members.”

Maleva-Otto, partner at Schulte Roth & Zabel, adds, “MiFID2 is going to
dominate compliance agendas in 2017.”

Colin Lambert

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