<img src="https://certify.alexametrics.com/atrk.gif?account=b2hlr1ah9W20em" style="display:none" height="1" width="1" alt="">

Firms get APA status for MiFID II

Posted by

Lynne Callister

on 22 Sep 2017

Firms get APA status for MiFID II

A number of firms have been granted APA status by the Financial Conduct Authority (FCA) in readiness for the introduction of MiFID II.

The UK regulator has given its approval to firms to operate as Approved Publication Arrangements (APAs) with effect from January 3rd 2018, enabling them to provide enhanced MiFID II services.

Such firms will publish reports post-trade for market participants - from banks and brokerage houses, to asset managers and hedge funds - and as such will be instrumental in delivering post-trade transparency.

Free MiFID II Training Presentation

Firms granted APA approval include:

  • London Stock Exchange's TRADEcho
  • Abide Financial
  • Bats Europe
  • Bloomberg
  • NEX Regulatory Reporting
  • Trax
  • Tradeweb

Firms have been urged to test their APA mechanisms immediately to ensure they can contribute to trade in the wake of the MiFID II implementation date.

Top tips to ensure MiFID II compliance

  1. Conduct an Impact Assessment - if you haven't already done so. Is the existing regime fit for purpose? What new requirements apply? What asset classes? Are there adequate mechanisms for identifying exceptions and quality issues?
  2. Ensure adequate monitoring and oversight - what more can be done, for example, to validate data, to make sure it is appropriate for reporting, and to ensure it is reported promptly? Are there other tools available to assist?
  3. Build resilience - are systems robust and resilient, designed to cope with unexpected events? What risks do you anticipate and how might you mitigate them?
  4. Benchmark progress - plan to carry out regular reviews to ensure that systems and controls are implemented fully and are working as you envisaged; reach out to regulators, industry bodies, tech firms and other interested parties to identify best practice and benchmark progress; look for improvements to existing practice.

MiFID II Training Presentation

Want to know more about FCA Compliance?

As well as 50+ free compliance training aids, we regularly publish informative FCA compliance blogs. And, if you're looking for a training solution, why not visit our FCA compliance course library.

If you've any further questions or concerns about FCA compliance, just leave us a comment below this blog. We are happy to help!

Compliance Essentials

Our comprehensive off-the-shelf compliance solution of 30+ in-depth courses and dozens of microlearning modules helps companies from SMEs to global corporates to achieve compliance success.

Start a Free Trial

cta-banner-placeholder