Source: Finextra video, Anthony Belchambers MiFID Connect
With eight months until the November MiFID compliance deadline, the Securities & Investment Institute event, 'MiFID: Are You Ready for Implementation?', asked a timely question. And the most common answer? As ready as possible, given the circumstances. Anthony Belchambers, chairman of industry group MiFID Connect, gave Finextra an overview of themes discussed at the event.
This brief interview covers:
• Delays in transposition of the directive into national regulation across the EU.
• The potential for a consultancy squeeze driving further compliance cost increases.
• The need for prompt action from CESR to help regulated firms finalise business requirements before initiating IT work.
• The top things that need to happen if compliance headaches and negative market impact are to be minimised in the coming months.