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

    Firms given APA status get ready for MiFID II. Are you?

    apa status

    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. Those granted approval include:

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

    Firms are being urged to start testing APA mechanisms immediately to ensure they can contribute to trade after the MiFID II implementation date.

    Follow these top tips to help your business prepare for MiFID II:

    mifid ii

    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.

    Leave a comment

    Tick

    eBook: Essential Uncovered

    Skillcast Essentials is our best-selling library and there's a reason for that. Essentials library provides comprehensive coverage of the key compliance / conduct issues that companies in the UK face today.

    Request now

    How to use storytelling in compliance training for maximum impact

    Stories help us to connect with people and the world around us. They have the power to  engage us in a way simple narratives just can't. And we remember stories. I'll bet you still remember your ...

    Read More
    5 ways to fire up a culture of compliance

    Any company's biggest risk to attaining and maintaining full compliance with laws and regulations is the conduct of its people - we call this the people dimension of compliance. And against this ...

    Read More
    6 traits of effective compliance officers

    Protecting the ethical integrity of a company is the heart of the compliance officer’s role. And as regulators continue to clamp down on misconduct with higher fines, compliance officers are under ...

    Read More
    New infographic reveals a lack of transparency about political engagements

    Nearly three quarters of companies are failing to disclose how they engage with politicians, according to a new report by Transparency International UK. The 2018 Corporate Political Engagement Index ...

    Read More