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Since 2014, the new version of the Financial Market Directive (Directive 2014/65/EU, MiFID II) and the supplementary Regulation ((EU) 600/2014, MiFIR) have been in effect. Since January 2018, the regulations of MiFID II and MiFIR as well as the corresponding delegated acts and national implementation have been mandatory.

The overriding goals of supervision are to improve investor protection, increase market transparency and strengthen the market infrastructure.

As the new requirements influence large parts of the value chain, they not only have an impact on the organisational structure, workflows and IT infrastructure, but also on the range of products and services.

For the resulting complex challenges, we support our clients with employees who have practical experience and develop innovative and pragmatic solutions. Our services include:

MiFID II compliance

Design and implementation of solutions to meet regulatory requirements and specifications, such as ESMA guidelines or BaFin circulars

  • Support with internal audit engagements in the context of MiFID II/ MIFIR, including internal audit
  • Quality assurance of solution designs

MiFID II remediation

  • Benchmarking of the implemented solutions and identification and realisation of optimisation potentials
  • Harmonisation and optimisation of the operating model in relation to parallel regulatory requirements, e.g. EMIR, SFTR or PRIIPs Regulation
  • Strategic impact analysis of MiFID II/ MiFIR and optimisation of the business model

KPMG team

As a leading advisor and auditor in the area of financial services, we have extensive regulatory expertise in various jurisdictions. In addition, we are represented in ESMA working groups on MiFID II/ MiFIR and thus have our finger on the regulatory pulse. Our interdisciplinary team of advisors has extensive relevant practical MiFID II/ MiFIR project experience.