When it comes to 
, solutions aren’t ‘one size fits all’
Wealth management audiences at Investmaster’s practical MiFID solutions seminars in February and March took the equivalent of a legislative headache pill with a look at real solutions to key MiFID regulations.
MiFID expert Guy Sears of APCIMS shared his views on the forthcoming legislation and his ‘3Is to MiFID compliance’:
- Implementation: Think practically now about how to comply
- Information: Transparency of reporting to clients and industry regulators
- Innovation: Optimise the business opportunities and the flexibility to alter and adapt existing business processes.
Top tips from both Guy and Investmaster about the changes to the forthcoming Conduct of Business Rulebook, with a focus on the practical steps firms need to be taking now to achieve compliance, included no-nonsense advice on the business processes and systems firms need to consider when dealing with MiFID administration burdens.
- MiFID’s single set of business rules and principles across Europe will bridge millions of people, strengthening the cross-continental financial sector; a positive move, delivering client centric, best practice
- The realities will bring challenges to the industry, such as tax, culture and language barriers
- There are real opportunities to optimise, such as the removal of obstacles for sophisticated and high net worth investors, and the ability to outsource services to and from continental firms with expertise in certain areas, and for investors to choose firms from across country borders
- With exceptional service and client reporting at the heart of MiFID, firms need to tackle head-on the resulting increase in administration.
Investmaster’s solution – InVantage - was demonstrated at the sessions using four MiFID related scenarios. Unique in the wealth management sector, the InVantage client centric product suite is accessed through a single launch platform providing access to eight fully integrated modules which support the full lifecycle of client management, trade processing and settlement. Click here for more information on the InVantage solution.
To find out how Investmaster can help you, contact Daniel Carpenter by email at daniel.carpenter@investmaster.com or call 0207 033 8889.