MiFID/MiFIR: key requirements (e-learning)

PwC’s Academy proposes a stand-alone digital tutorial from the MiFID certification e-learning suite, specifically designed to support the regular update of general knowledge and competence related to MiFID II requirements.

By the end of this course, participants will be able to:

• recognise the impact of the MiFID II regime on financial market participants and structures and par, including organised trading facilities (OTFs), systematic internalisers (SIs), derivative trading obligations, market access, and dark pools and broker crossing networks;
• identify how MiFID II aims to improve both pre- and post-trade transparency;
• recognise the importance of transaction reporting and governance under the MiFID II framework;
• quantify the impact of MiFID II on the various business lines of financial institutions.

Topic 1: Market structure

• Organised Trading Facilities (OTFs)
• Systematic Internalisers (SIs)
• Changes to the SI regime
• Derivative trading obligations
• Market access
• Dark pools and broker crossing networks

Topic 2: Market transparency

• Pre-trade transparency
• Post-trade transparency

Topic 3: Investor protection

• Product governance: definition, target market criteria, regulatory requirements
• Investment advice
• Suitability
• Suitability and sustainability
• Suitability reports
• Appropriateness
• Inducements
• Investment research
• Best execution
• Conduct of business: product coverage

Topic 4: Transaction reporting

• Purpose of transaction reporting
• Client identification
• Scope of transaction reporting
• Responsibility for transaction reporting
• Approved Reporting Mechanisms (ARMs)

Topic 5: Other key requirements

• Commodity derivatives: limits and trading restrictions
• High frequency trading
• High frequency trading: controls
• Internal control and governance

Topic 6: Impact on business lines

• High-level impact
• Buy-side and sell-side impact
• Third-country access
• Third-country access: models

We deploy our e-learning solution as from 10 licences.

• From 10 to 50 participants: 75 EUR
• From 51 to 150 participants: 70 EUR
• From 151 to 300 participants: 60 EUR
• More than 300 participants: 50 EUR

This course has been designed with the support and collaboration of Cécile Liégeois, Partner and is coordinated by Isabelle Willequet, Senior Manager at PwC Luxembourg.

Cécile has 23 years of professional experience in Luxembourg and has developed deep knowledge of Luxembourg banking and investment firms regulations, amongst other topics, internal governance, outsourcing arrangements (BPO/ICT/Cloud) and operational/ICT risk management. She is leading projects on new regulations implementation focusing on business, regulatory and operational impacts. Cécile has experience in the external audit (financial and regulatory audit) of entities of the financial sector, mainly in the banking industry, other areas of the financial sector (investment firms, support and specialised PFS), management companies and investment funds.

With 29 years of professional experience in the Luxembourg banking sector, Isabelle has cultivated a profound understanding of banking processes, associated risks, and the implementation of effective controls. She has successfully led numerous operational and regulatory-driven projects across several major banking institutions, showcasing her expertise and leadership in the field.