MiFID Directives Explained: Updates on MiFID II and Preparation for MiFID III (H1015)
Practical MiFID II compliance across the client and transaction lifecycle
✓ MiFID II, MiFIR and MiFID III updates
✓ Day-to-day processes, controls and documentation
✓ Designed to meet supervisory expectations
This two-day master MiFID II course for legal and compliance professionals offers a comprehensive overview of MiFID II and examines the anticipated updates under MiFID III. The financial industry is constantly evolving, and keeping up with regulatory changes is essential. With MiFID III on the way, it's important to solidify your understanding of MiFID II and prepare for what's next.
Table of Contents
- About the Course
- Who Should Attend
- Key Learning Objectives
- Course Curriculum
- Meet the Trainer
- FAQs – Frequently Asked Questions
- Testimonials From Past Participants
- Other Upcoming Courses
- Fees & Registration Details
- Registration Form
About the Course
With the ever-evolving landscape of financial regulations, keeping up with the latest developments in MiFID II and the upcoming MiFID III is crucial for financial institutions. This seminar addresses the growing complexity of compliance and risk management within financial services, helping professionals stay ahead of regulatory changes that could impact their operations. As digital finance innovations reshape market structures and investor expectations increase, understanding these regulatory shifts is essential to mitigate risk, protect clients, and maintain a competitive edge. This seminar equips participants with the knowledge and practical tools needed to navigate these challenges effectively and prepare for the future of financial regulation.
Through engaging discussions, practical case studies, and interactive sessions, you’ll explore compliance strategies, risk management practices, and changing market structures that will shape the future of financial services. This course is designed to provide you with the knowledge and tools to confidently navigate complex regulations and maintain a competitive edge in the industry.
Register via ERMIS platform using code 688534
This programme may be approved for CPD units in Financial Regulation and Compliance. Eligibility criteria and CPD units are verified directly by your association, regulator or other bodies of which you hold membership
Timetable
Who Should Attend
Compliance officers and compliance assistants in investment firms, banks and asset managers.
Legal advisers and internal auditors involved in MiFID II implementation and monitoring.
Risk managers responsible for conduct risk and regulatory risk frameworks.
Investment advisers, portfolio managers and client relationship managers who operate under MiFID II conduct rules.
Senior managers and board members who bear responsibility for MiFID II governance and oversight.
Key Learning Objectives
After completing the programme, the trainees will be able to:
- Describe the scope, objectives and key requirements of MiFID II, MiFIR and the main changes introduced by the MiFID II / MiFIR review (“MiFID III”), including client categorisation, conduct of business rules and transparency obligations.
- Explain the structure of EU trading venues and execution channels and the basic transparency and reporting obligations that apply to investment firms.
- Identify the full set of investor‑protection obligations applicable to investment firms: information duties, costs and charges disclosure, inducements, suitability, appropriateness, product governance and complaints handling.
- Apply MiFID II suitability and appropriateness rules to real client scenarios, including collecting and assessing client information, building risk profiles and preparing compliant documentation.
- Review and improve internal and client‑facing documentation — costs and charges disclosures, suitability reports, conflicts‑of‑interest registers and product‑governance files — to meet MiFID II and MiFID III standards.
- Design and evaluate controls for managing conflicts of interest, monitoring distribution quality and using complaints data to detect weaknesses in client‑protection processes.
- Adopt a proactive, client‑outcome‑focused mindset that treats MiFID II compliance as a driver of client trust and firm sustainability, rather than a tick‑box regulatory exercise.
- Develop the confidence to challenge existing practices within their firm, engage constructively with management and front‑office colleagues and respond effectively to supervisory enquiries and regulatory change.
Course Curriculum
- Objectives and architecture of MiFID II (Directive 2014/65/EU) and MiFIR (Regulation 600/2014): investor protection, market integrity and fair competition.
- Scope of MiFID II: investment services and activities, financial instruments, investment firms, branches and cross‑border provision of services.
- Client categories and their regulatory significance: retail clients, professional clients and eligible counterparties.
- Overview of the MiFID II / MiFIR review package (“MiFID III”): key areas reviewed and main changes affecting investment firms.
Icebreaker discussion: participants share their most pressing MiFID compliance challenges.
- Types of trading venues under MiFID II / MiFIR: Regulated Markets, Multilateral Trading Facilities, Organised Trading Facilities and Systematic Internalisers.
- OTC trading: when it applies, transparency implications and risks for client protection.
- Best execution under MiFID II: meaning, application across execution channels, governance and documentation requirements.
- Pre‑ and post‑trade transparency obligations and basic transaction reporting under MiFIR as the regulatory backdrop to client execution and oversight.
- Practical example: trade lifecycle walk‑through from client instruction to execution across different venue types, highlighting key MiFID II / MiFIR touchpoints.
- Information requirements before and after service provision: nature and risks of financial instruments, service scope, performance reporting and client communications.
- Ex‑ante and ex‑post disclosure of costs and charges: all‑in cost disclosure, practical examples of compliant and non‑compliant practice, common supervisory findings and enhancements introduced by the MiFID II / MiFIR review.
- Inducements and remuneration: conditions for receiving fees, commissions and non‑monetary benefits; independent vs. non‑independent advice; relationship between inducements and conflicts of interest.
- Practical exercise: participants review sample costs‑and‑charges disclosures and client communications, identify gaps and propose corrections.
- Suitability for investment advice and portfolio management: information to collect on client knowledge and experience, financial situation, investment objectives and ESG sustainability preferences.
- Translating client information into a risk profile and a suitable investment strategy: diversification, product selection and periodic review obligations.
- Appropriateness for non‑advised and execution‑only services: when an appropriateness assessment is required, how to handle non‑complex instruments and how to document and deliver risk warnings.
- Documentation standards: suitability reports, file notes and ongoing client profile reviews, incorporating key clarifications from the MiFID II / MiFIR review on retail‑client protection.
- Case study: group exercise in which participants assess the suitability and appropriateness of a proposed transaction for a given client profile, identify documentation gaps and draft the key elements of a compliant suitability report.
- Purpose and scope of MiFID II product governance requirements and their role in protecting investors at the point of product design and distribution.
- Manufacturer and distributor responsibilities: how distributors obtain, assess and apply product‑governance information received from manufacturers.
- Target‑market definition in practice: positive and negative target markets, distribution strategies and worked examples for common investment products.
- Monitoring obligations: tracking product performance and complaints patterns, identifying distribution mismatches and taking corrective action.
- Video: illustrative example of a product‑governance failure and the resulting supervisory consequences.
- Identification of typical conflicts of interest in investment firms: proprietary trading vs. client orders, remuneration and incentive structures, research, third‑party benefits and cross‑selling arrangements.
- Elements of an effective conflicts‑of‑interest framework: identification, prevention, management, disclosure and record‑keeping under MiFID II organisational requirements.
- Complaints handling under MiFID II: process requirements, timelines, root‑cause analysis and use of complaints data to identify weaknesses in client‑protection processes.
- Practical examples: conflict‑mitigating controls and how to evidence their effectiveness to supervisors and in the annual MiFID compliance report.
- Key changes from the MiFID II / MiFIR review (“MiFID III”) affecting investment firms’ client‑facing processes and compliance frameworks in 2025–2026.
- Course recap: key takeaways from each section mapped to the client journey from onboarding through advice and execution to ongoing servicing.
- Course Assessment: written short‑answer assessment based on case studies and scenarios covered during the programme.
- Individual action planning: each participant identifies three concrete improvements for their own firm across policy, process, documentation or monitoring.
Q&A and Closing Remarks.
Meet the Trainer
Fees & Registration Details
Testimonials From Past Participants
FAQs – Frequently Asked Questions
MiFID II is the current framework regulating financial markets, while MiFID III is an anticipated update focused on enhanced investor protection, market transparency, and FinTech-driven reforms. This course covers both the current and upcoming changes.
With MiFID III approaching, firms must strengthen MiFID II compliance while preparing for upcoming regulatory shifts. This training provides the knowledge and tools to anticipate and manage transition risks effectively.
Designed for compliance officers, portfolio managers, investment advisors, legal and regulatory professionals, and anyone involved in regulated financial services needing a clear understanding of MiFID II and future reforms.
Participants will learn to implement MiFID II compliance strategies, conduct suitability assessments, evaluate market structures, and develop action plans for upcoming MiFID III requirements and digital finance regulation.
Yes. The course grants 8 CPD hours, is eligible for HRDA subsidy, and runs online over two days (15–16 Sep 2025) in English via Zoom.
Other Upcoming Courses
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