The MiFID Directive became effective for all investment related services in
Europe in 2007. The Markets in Financial Instruments Directive (MiFID) is the European Union’s answer to the need to regulate the ever-growing investment market in Europe, and to protect investors. This directive includes an explicit statement that all communication with the retail target group must be "fair, clear and not misleading." Traceability and transparency play a central part in MiFID compliance, and the impact for investment companies that are affected is overwhelming.
Traceability & Transparency
Although, it might sound reasonable that investment companies are obliged to execute, report and confirm orders on the very best possible terms for their clients, it is a tremendous job to make every stage in the process traceable. To prove compliance, companies have to maintain detailed records.
MiFID compliance made easy
Given the number of documents required to complete any financial transaction, the market is very keen to identify technologies that can automate and simplify compliance. BWise, together with leading legal compliance experts, has now developed a solution template to overcome the daunting task of MiFID compliance.