Due for implementation on 1 November 2007, MiFID sets the legislative framework for a single European financial services market and impacts all organisations currently governed by the Investment Services Directive. It will drive the most far-reaching changes in financial markets for over ten years and have a significant impact on financial services regulation and how firms operate and interact with customers.

"The Second Edition MiFID Policy Manager library provides our customers with a very straightforward MiFID adoption strategy. The library is unique in that it not only contains all of the Level 2 requirements, but also suggested policies, recommended actions that firms should to do in order meet the November 1 deadline, and contains very comprehensive questionnaires for employee's testing, to demonstrate their understanding of their commitment to the MiFID directives," commented Nigel Kilparick, Sales and Marketing Director at Iconium. "Every MiFID Project and Programme Manager no longer has to worry about the enterprise acceptance to the regulation, or the awareness and understanding as Policy Manager delivers all this in one cohesive platform. Customers are already purchasing our second edition library as they find it the most suitable way in which to deliver their MiFID project."
Policy Manager allows the creation of policies and procedures, and provides a platform for them to be communicated to all employees and agents, ensuring client-facing staff have access to their firm's latest versions of MiFID related policies and procedures. Once in the rollout phase, the MiFID library will fully demonstrate to the regulator that every attempt has been made to educate staff and agents in the new corporate policies and to ensure a compliant and uniform treatment of all customers and counterparties.
"The market is awash with hype around MiFID and most of it driven by vendors trying to jump on the bandwagon without really understanding the customer's challenges. M MiFID is a very complex regulation, with many variations and opportunities. Iconium has taken the time and chosen, very carefully, the subject matter experts to write the new library and also extend its capabilities by giving our customers the 'what to do' and the 'how to do'," commented Toby Waldock, CEO of Iconium. "At the end of the day ensuring policy compliance is about winning the hearts and minds of all the employees in the organisation. We believe that with this new edition of the MiFID Library we have delivered a platform for our customers to ensure not only acceptance to the regulations, but also their understanding of it with an easy ability to demonstrate and evidence to the local regulators that they are MiFID compliant."

The MiFID Policy Manager library consists of the following:
• Requirements; Business requirements of each of the nineteen topic areas,
• Action Lists; suggested actions to satisfy the requirements,
• Suggested Policies; the corporate policy of the regulatory requirements that are disseminated to all relevant staff,
• Awareness & Understanding; the answers to questions on each topic with justification of why they are right.
"Iconium is the leading provider of the next generation policy compliance document management solutions with one mission, to make compliance and governance simple. With MiFID we see yet another complexity thrown at the financial services community, just after they have coped with Sarbanes-Oxley and continually expanding FSA regulations," said Toby Waldock, CEO, Iconium Limited, "In Policy Manager we have created a framework to allow firms to embrace new regulations quickly and with much less pain than they have been able to in the past, where expensive consultancy has left them with reams of paper and very little on-going support. Policy Manager provides policy owners, policy users, and policy auditors with a single place to visit for all major compliance and regulatory policies, and removes cost and complexity whilst increasing consistency and clarity."