What is the MiFID II Implementation Group?
In October 2014 at the MiFID II conference, the FCA stated that the future of EU trading is in the balance and work should start immediately – not because we already knew precisely what all the rules looked like, but simply because there would not be enough time to carry out all of the necessary work otherwise.
In response to this, JWG facilitates a monthly meeting of industry sell-side experts who are directly involved in MiFID II implementation in our MiFID Implementation Group (MIG). The group engages in collaborative issue identification, standard setting, and work planning. The meeting operates under the Chatham House Rule and all members are protected by our collaborative agreement. It will help your firm:
- Contextualise requirements: Analyse the consolidated list of requirements within MiFID II/MiFIR and across the 31 dependent initiatives which the group has deemed to be in scope
- Brainstorm methods: Debate with peers and formulate possible methods of compliance to create a better understanding of the requirements
- Document and approve conclusions: Have formally minute conclusions about what decisions were made and why
- Raise issues in a governed forum: Members may elect to have a steering committee with a rotating chair to manage activities
How does the MiFID II implementation group work?
- MIG ToR and plan: This document and annual/quarterly priorities and targets
- MIG communications: JWG to manage all group-wide communications and provide Q&A service for regulatory questions
- Reference MiFID II project milestones: Workstreams, dependencies and milestones for MiFID II and dependent regulations
- MIG standards handbook: Analysis of key issues and operational guidance on how to resolve them
- MIG library: Access to tagged and annotated MiFID II documents within 48 hours in RegDelta. Group commentary, workflow and reporting across the library.