Who is subject to MiFID II reporting?

Who is subject to MiFID II reporting?

Under MiFID II/MiFIR, operators of all trading venues (including Multilateral Trading Facilities, MTFs, and Organised Trading Facilities, OTFs) must report transactions traded on their platform when executed through their systems by a firm which is not subject to the regulation.

Who is responsible for transaction reporting?

Transaction reporting is to be made to the firm’s home competent authority and must be made by the firm or by its approved reporting mechanism or by the trading venue operator. 6.

What is a reportable instrument?

First published: 09/06/2016 Last updated: 31/12/2020. To be reportable an instrument must be considered a financial instrument specified in Part 1 of Schedule 2 to the Regulated Activities Order and be admitted to trading or traded on a trading venue within scope of the UK MiFID framework.

What transactions should be reported?

A person must file Form 8300 if they receive cash of more than $10,000 from the same payer or agent:

  • In one lump sum.
  • In two or more related payments within 24 hours.
  • As part of a single transaction or two or more related transactions within a 12 month period.

What are reportable assets?

Reportable Assets means any personal assets, excluding expendable commodities that has an original acquisition cost of $1,000 or more and a useful life of one year or longer.

Does MiFID apply outside Europe?

To what extent do the MiFID II obligations apply to that transaction? In our view, all of the activities undertaken up to, and including, the execution of the transaction take place outside the EU. Therefore, MiFID II does not apply to those elements.

What is a third country firm MiFID?

The term “third country” refers to jurisdictions outside the EU and “third country firms” refers to entities incorporated outside the EU, whether they do, or seek to do, business by way of a branch established in the EU, or on a cross-border basis – i.e. providing services to persons in one jurisdiction from a place of …

When must cash transactions be reported?

A person must file Form 8300 within 15 days after the date the person received the cash. If a person receives multiple payments toward a single transaction or two or more related transactions, the person should file Form 8300 when the total amount paid exceeds $10,000.

How did MiFID II get transaction reports so wrong?

MiFID II – Transaction reports. MiFID II / MiFIR has changed the reporting of transactions by investment firms and trading venues considerably. The objective of the new rules for transaction reporting is to obtain better insight into the trading behaviour of market participants and to improve the detection of market abuse.

What is MiFID II and why should we care?

What is Mifid II, and why is it so important? Mifid II is one of the most ambitious and contentious reforms introduced by the EU in response to the 2008 financial crisis. It governs everything from where and how derivatives can be traded to measures to reduce volatility and police potential conflicts of interest among financial advisers.

How to approach MiFID II?

Investment Banks

  • Brokers and dealers (sales&trading),
  • Wealth managers
  • Asset managers
  • Product manufacturers.
  • Market infrastructure providers
  • Energy and Commodity firms
  • Custodians
  • What do you need to know about MiFID II?

    – the target market; – information on the financial instruments in question and the associated risks; – information on costs and charges; – information relating to the provision of investment advice; – inducements; and – cross-selling practices.