MIFID II - Moving past the challenges - Finextra

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Since MiFID II was implemented at the start of 2018, financial markets have struggled to adapt to the new and rigorous regulatory requirements. Recently, high profile cases have brought the consequences of non-compliance into the spotlight, with UBS and Goldman Sachs both receiving fines of £27.6m and £34m respectively, for misreporting their data.

The aim of compliance, however, is not to penalise financial institutions, but to increase transparency and eventually enable a more competitive and fair marketplace to emerge. For MiFID II to deliver on its aims, firms need to move away from the perceived negatives and wake up to the opportunities that MiFID II can deliver for their own operations and the marketplace alike.

In this Finextra article, SteelEye CEO, Matt Smith, urges firms to change their negative outlook on MiFID II and wake up to the opportunities that the directive can deliver. Read the article here.