Problem statement

MiFID II is set to fundamentally change the rules around trading in the EU by forcing the entire industry to make seismic alterations to their operations. Managing the necessary change presents a number of enormous challenges:

  • Finding the relevant regulatory text across hundreds of regulatory requirements stored on hundreds of regulatory websites, and keeping up to date with new developments. JWG research shows that over 50,000 regulatory documents have been published across the G20 since 2009 alone, with an average of 45 new documents every week
  • Working out what the rules actually mean and which ones apply to your organisation in over 30,000 pages of MiFID II across multiple stages of the legislative process as well as national transposition
  • Analysing dependencies and front-running across 31 legislative initiatives, and over 2,200 documents that impact the way firms need to implement MiFID II
  • Maintaining regulatory analysis throughout your organisation, whilst taking into account 3rd party opinion and industry collaboration in order to deliver clear and consistent change planning
  • Dividing labour within your organisation in a way which ensures that the right people are helping to implement the right requirements, whilst maintaining a clear record of internal accountability.

RegDelta MPP instance

JWG has collected the relevant regulation and modelled the requirements into RegDelta’s ontology in order to offer a comprehensive MiFID II programme planning tool:

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      • Golden source. Easily locate regulatory requirements across all of the MiFID-relevant legislative initiatives and receive alerts when new documents are published
      • Navigation. Conduct semantic searching and filtering of both the full library and individual texts down to the paragraph/footnote level to find linkages and get right down into the detail much more quickly
      • Corporate memory. Store internal analysis within the texts themselves to ensure ongoing efficiency
      • Workflow. Assign issues across your enterprise, set priorities and know who has considered each requirement
      • Reporting. Produce tailored and exportable reports that can be configured by business, jurisdiction, regulation and time
      • Independent analysis. Integrate all neutral and independent commentary through JWG’s MiFID working group.

This is an invaluable aid for our collaborative working group MIG and our training agenda.