Skip to content
Get in touch Support Hub Investors
Book a demo Free trial

Markets in Financial Instruments Directive II (MiFID II)

The Markets in Financial Instruments Directive (MiFID) originally aimed to increase competition and integration in markets for financial instruments. After the financial crisis, it was evident that greater investor protection was needed.

The EU created MiFID II to broaden the scope to other financial instruments and trading venues. This extends to market participants and activities not previously regulated. Most of it is adopted into the FCA's Handbook.

Our Markets in Financial Instruments Directive II (MiFID II) Course explains the new MiFID II rules and what is required to comply with these rules.

Start your trial Course details
  • 45 Minutes
  • All staff
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
  • FCA Compliance Library

Learning objectives

  • Identify the aims and objectives of MiFID II
  • Appreciate the measures being introduced to improve the governance regime, including product governance, remuneration, HFT, safeguarding client assets, trading and reporting obligations
  • Take appropriate action to protect and give value to investors in relation to the provision of information and advice, suitability assessments, inducements, research, etc
  • Maintain and keep appropriate records for financial transactions in line with regulatory requirements

    What can you expect your employees to learn?

Welcome

What is MiFID II?

  • Why is it important for you?

Client categorisation

Conflicts of interest

Inducements

  • You make the call: What are the rules on the inducements?

Research

  • RPA restrictions

Remuneration

Product governance

  • What this means for product manufacturers
  • What this means for product distributors
  • What do you think: FCA intervention
  • You make the call: Product governance rules

Suitability & complex products

  • Appropriateness
  • You make the call: Suitability & appropriateness tests
  • Equivalent tests
  • The rules on switching

Information disclosure to clients

  • Scenario: Eva provides information

Investment advice

  • Investment advice
  • You make the call: Is it a personal recommendation or not?

Safeguarding of client assets

  • You make the call: Is it a breach or not?

Best execution

Trading obligations

Transaction reporting

  • Scenario: The rules on transaction reporting

Publication requirements for investment firms

  • Publication requirements for liquidity providers
  • You make the call: Delivering the best possible result for clients

Commodities and derivatives

High frequency algorithmic trading (HFAT) & direct electronic access

  • Systems & controls for HFT & direct electronic access
  • You make the call: The rules on HFT & direct electronic access

Market structure - systematic internaliser

Outsourcing

Record keeping

  • You make the call: Record keeping rules

Complaints

Summary
Affirmation
Assessment

Hear from our learners

Excellent easy-to-use LMS which Skillcast have specifically tailored to our needs to also host a Global Policy Portal and global staff surveys, alongside providing live MI reporting.
Being able to personalise our own training has been a game-changer! Excellent training was provided on how to use the CMS and the support team have been so helpful, patient and quick to reply when I've got stuck.
We have been enjoying e-learning with Skillcast for 10 years now. Their customer service is always at the highest level, always very attentive, responsive, and polite. Highly recommend to any company who is looking for a high quality e-learning and customer service (they have both in high standards).
We started using Skillcast for our employee's compliance training a few months ago and the experience has been excellent. Skillcast was very efficient in the set up process they then helped support us with rolling out our staff training in a seamless way. The course content is highly detailed and professionally delivered. Overall, I would highly recommend Skillcast as your LMS training provider.
Excellent courses with a brilliant support team
We've been using Skillcast for approx. 1.5 years and have been very happy with the service received and the courses offered. The customer service from the support team is excellent, they always respond quickly and are very helpful. The courses offered cover a broad range and the FCA courses were particularly useful to our business.
Incredibly helpful support team, who work with you to provide tailored advice and practical assistance. You are supported every step of the way. Would highly recommend.
I cannot overstate how happy with are with Skillcast. They are prompt, attentive, patient and always so good humoured. The teams work seamlessly, and there is always someone to cover in the absence of a team member. I am always impressed and very happy to work with the team.
A great LMS with a dedicated and knowledgeable team behind it. The LMS has a number of features that are gradually shared and which keeps on being developed.
Every member of the team I have had dealings with have been quick, efficient and very accommodating. No task or query is to big for them, and always a quick and prompt response. Pleasure to work with
We use Skillcast for our corporate training and it's a good LMS platform with a great variety of courses available. The platform is user-friendly and easy to navigate, and courses are up to date with legislation.
Skillcast is easy to set up and use. You can design the colours of the platform to fit you company branding. Support team are very helpful and nothing is too much trouble.
Excellent systems, user-friendly and easy to use.
Skillcast is a great platform to use for Compliance e-learning. The staff found the courses informative and engaging. There is a wide range of compliance related topics on the essentials library. The LMS is easy to use, and provides reports to track staff progress, which is a helpful feature.
The range of course libraries are comprehensive and the ability to select from multiple modules was important to us. The Global Library provides courses in multiple languages. We were also impressed with the microlearning modules. The platform is a great option for us and for our business requirements. We can also trust in Skillcast to review and update the modules so that they remain relevant and incorporate the latest developments in regulation.
Excellent services provided by the Skillcast team and the Skillcast system is simple to use.
The service provided for our company is excellent. The platform provides essential training for our business. When liaising with Skillcast in preparation for training delivery their customer service is excellent and we would definitely recommend.
Skillcast has truly transformed our approach to compliance training and tracking at Imagination. Not only does it seamlessly manage our global company's compliance requirements, but it also enhances employee engagement through its user-friendly interface and interactive content. What sets Skillcast apart is not just the platform itself, but also their exceptional customer service team. They are responsive, knowledgeable, and dedicated to providing tailored solutions to our unique needs. It's been instrumental in streamlining our compliance processes and fostering a culture of proactive risk management, growth & development."
They listened to our needs and helped tailor the existing course to our organisation with ease, ensuring accessibility requirements were maintained and the training was engaging and presentable. All their help was been very appreciated and I couldn't have asked them to do any more for us. I would recommend Skillcast to anyone looking to bring in new training modules to their organisation.
Skillcast provide an A-star product with excellent customer service support.

Start your compliance e-learning journey with a free trial

Our no-obligation free trial gives you access to our libraries and compliance platform. 

Ready to start your free trial? Complete the form, and a member of the Skillcast team will be in touch with further details.

Your questions, answered

Financial Crime

Common FAQs

How can I log and track incidents of financial crime in my organisation?

Our Compliance Breach Register allows you to securely log and monitor incidents of financial crime, such as bribery or money laundering. The tool enables you to track resolution progress and maintain a clear audit trail, ensuring accountability and compliance with regulatory requirements.

How can I ensure my employees understand and comply with our internal policies in relation to financial crime?

Our Policy Hub enables you to distribute policies such as your Anti-Money Laundering (AML) policy to employees, track acknowledgements, and send automated reminders. This ensures everyone understands their obligations and helps you maintain compliance with financial crime regulations.
.

Are Skillcast courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Is our training content still compliant with the latest legislation?

  • You can check the latest course content updates in our library updates page: https://www.skillcast.com/compliance-course-library-updates
  • For major legislative changes, we:
    • Will send you email alerts to ensure you are notified
    • Offer you a free trial of newly created or updated content
    • Host webinars with compliance experts to explain the changes and how our training supports your ongoing compliance

Can you translate our content into other languages?

Yes, we offer translations in a wide range of languages. Let us know your needs, and we’ll confirm availability or work with you to plan translations for your selected modules.

How can I give employees a secure way to record suspicious activity so we can act quickly?

Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.

What file types are supported by the Skillcast system?

Features

Supported file types and details

File Exchange

File types: PDF, Excel spreadsheets, Word documents, SCORM and xAPI files, and compressed zip files. Max file size: Default is 1GB, can be increased to a max of 2GB

SCORM files

Versions: SCORM 1.2, SCORM 1.2 for Moodle, SCORM 2004 2nd, 3rd and 4th Edition. Max file size: 1024MB

xAPI file

Max file size: 2GB

Videos

File types: MP4 or MOV. Videos must be optimised, with a max file size of 100MB. If the file is bigger, our Design Team can help

Images

File types: jpg, png and gif. The file size should ideally be 100KB, but it can be up to 250KB

CPD evidence

File types: Word, PDF, Excel and CSV. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Policy documents

PDF or Word File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Offline activities evidence

File types: PDF, DOC, DOCX, XLS, XLSX, CSV, PNG, GIF, JPEG, JPG, PPTX and MSG. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Client logo files

File types provided by client: EPS, PDF, AI and SVG

Registers

PDF, DOC, DOCX, XLS, XLSX, CSV, PPT, PPTX, POT, PPA, PPS, JPG, JPEG, PJEPG, PNG, BMP, GIF, MP4, MOV, WMV, CPTX, CP, TXT, ZIP and MSG files

Declarations

JPG, JPEG, PNG, GIF, XLS and XLSX files

 

Related courses

Boost your compliance efforts with our range of courses. Varying in length and topic, our courses equip you with the tools to create an ethical and resilient workplace.

Anti-Money Laundering & Counter-Terrorist Financing

To prevent criminal activity, nearly all countries in the world have committed themselves to extremely tough laws against money laundering and terrorist financing.

Read more

In-depth 30 Minutes Financial Crime All staff

Anti-Money Laundering

To prevent the proceeds of crime from finding their way into the formal economy, most countries have extremely tough laws with severe penalties.

Refresher 15 Minutes Financial Crime All staff

Financial Sanctions

Financial and economic sanctions are binding prohibitions applied by governments to prevent business transactions with certain designated persons.

Read more

In-depth 45 Minutes Financial Crime All staff

Financial Crime Prevention

There are two kinds of financial crime.

Read more

In-depth 40 Minutes Financial Crime All staff

Suspicious Activity Reporting

It is your employees' legal duty to report any knowledge or suspicion of financial crime.

Express 10 Minutes Financial Crime All staff

Economic Sanctions

Violation of sanctions issued by the UN, the US and the EU which place restrictions on payments and other financial transactions can result in fines as well as criminal charges.

Refresher 15 Minutes Financial Crime All staff

Embargoes and Sanctions

Embargoes and sanctions prohibit all transactions with an entity, trading of certain commodities, or supplying critical goods.

Read more

In-depth 45 Minutes Financial Crime All staff

Customer Due Diligence

Customer Due diligence is a legal requirement and plays a vital role in protecting your Company.

Express 10 Minutes Financial Crime All staff

Tipping Off

Tipping off a person about a money laundering or terrorist financing investigation is a criminal offence.

Express 10 Minutes Financial Crime All staff

Understanding Sanctions

Bring "Understanding Sanctions" e-learning to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Money Laundering Red Flags

Bring "Money Laundering Red Flags" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Counter Terrorist Financing

Terrorism is a huge risk that we face in the world today and like other human activities, it requires funding.

Express 15 Minutes Financial Crime All staff

Counter-Proliferation Financing

UK companies are required to tackle proliferation financing as part of their anti-money laundering and sanctions checks.

Express 10 Minutes Financial Crime All staff

Third-Party Due Diligence

Due diligence plays a vital role in protecting your Company.

Express 10 Minutes Financial Crime All staff

MCOB - General Standards

The Mortgage Conduct of Business (MCOB) for General Standards applies to all firms that deal with home finance.

Read more

In-depth 40 Minutes Financial Crime All staff

Ethical Standards in Finance and Investment

The FCA's ethical standards apply to individuals in finance and investment.

Read more

In-depth 40 Minutes Financial Crime All staff

BCOBS - General Standards

The FCA Banking Conduct of Business Sourcebook (BCOBS) applies to all firms that accept deposits from banking customers in the UK.

Read more

In-depth 25 Minutes Financial Crime All staff

Training and Competence

Training and Competence (T&C) forms an important part of UK regulations under the FCA.

Read more

In-depth 30 Minutes Financial Crime All staff

The Three Stages of Money Laundering

Bring "The Three Stages of Money Laundering" e-learning to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Preventing Tipping Off

Bring "Preventing Tipping Off" e-learning to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

COBS - Client Categorisation

The Conduct of Business Sourcebook (COBS) applies to financial firms in the UK that deal with client investments.

Read more

In-depth 20 Minutes Financial Crime All staff

Payment Services Regulations

The Payment Services Regulations (PSRs) 2017 was introduced in 2018 and set the Payment Services Directive 2 (PSD2) in motion.

Read more

In-depth 25 Minutes Financial Crime All staff

Whistleblowing for Managers

Whistleblowing refers to disclosing corrupt, illegal or fraudulent activities committed by organisations.

Read more

In-depth 35 Minutes Financial Crime Managers

Appropriate Use of Communication Channels

Not all communication channels are appropriate for business purposes.

Read more

In-depth 10 Minutes Financial Crime All staff

COBS - Dealing and Managing

The FCA Conduct of Business Sourcebook (COBS) applies to financial firms in the UK.

Read more

In-depth 20 Minutes Financial Crime All staff

Information Barriers

The flow of information in financial firms needs monitoring between businesses involved with private and public side activities.

Read more

In-depth 45 Minutes Financial Crime All staff

Senior Management Arrangements Systems and Controls

The Senior Management Arrangements Systems and Controls (SYSC) Sourcebook apply to authorised financial services firms.

Read more

In-depth 25 Minutes Financial Crime Managers

Conduct Rules for Senior Managers at Dual Regulated Firms

Under the Senior Managers Regime, all senior managers must comply with the FCA's six Individual Conduct Rules (ICRs) and four Senior Managers Rules (SMRs).

Read more

In-depth 60 Minutes Financial Crime Managers

MCOB - APRC, Shortfalls and Charges

The Mortgage Conduct of Business (MCOB) for the Annual Percentage Rate of Charge (APRC), shortfalls, and charges apply to home finance businesses.

Read more

In-depth 30 Minutes Financial Crime All staff

FSCS Deposit Protection

The Financial Services Compensation Scheme (FSCS) safeguards customers' finances.

Read more

In-depth 20 Minutes Financial Crime All staff

Complaints Handling for Managers

One of the three operational objections of the FCA is to protect consumers.

Read more

In-depth 35 Minutes Financial Crime Managers

Financial Crime Prevention (Commercial Insurance)

There are two kinds of financial crime.

Read more

In-depth 35 Minutes Financial Crime All staff

Terrorist Financing Red Flags

Bring "Terrorist Financing Red Flags" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Understanding Terrorist Financing

Bring "Understanding Terrorist Financing" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Customer Due Diligence

Bring "Customer Due Diligence" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Enhanced Customer Due Diligence

Bring "Enhanced Customer Due Diligence" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Politically Exposed Persons

Bring "Politically Exposed Persons" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Suspicious Activity Reporting

Bring "Suspicious Activity Reporting" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Unexplained Wealth Orders

Bring "Unexplained Wealth Orders" training to life using animation characters and storylines.

Microlearning 5 Minutes Financial Crime All staff

Money Laundering and Terrorist Financing Risks of Virtual Assets

Unlike fiat currency, virtual assets are not managed by any bank or government, leaving them vulnerable to several unique risks concerning money laundering and terrorist financing.

Express 20 Minutes Financial Crime All staff

Anti-Money Laundering and Counter Terrorist Financing

Most countries have extremely tough AML laws with severe penalties.

In-depth 30 Minutes Financial Crime All staff

Embargoes and Sanctions

Embargoes and sanctions prohibit transactions with an entity, trade in a commodity or the supply of goods.

In-depth 45 Minutes Financial Crime All staff

Market Abuse Regulation

Market Abuse Regulations prohibit insider dealing, unlawful disclosure of inside information and market manipulation.

In-depth 45 Minutes Financial Crime All staff
Browse the complete Financial Crime training package