Regulatory Requirements for a Global Investment Bank
Case Study

Regulatory Requirements for a Global Investment Bank

MiFID II aims to improve financial market’s efficiency by enhancing the current MiFID I. The implementation deadline is January 3, 2018, and investment firms face major challenges across the organization.

MiFID II aims to improve financial market’s efficiency by enhancing the current MiFID I. The implementation deadline is January 3, 2018, and investment firms face major challenges across the organization. Axis Corporate was requested to lead the predict and instrument reference data MiFID II compliance work stream.

 

This case study provides information on how Axis Corporate helped a Global Investment Bank with their regulatory requirement needs.

 

If you have any questions related to Governance, Risk or Compliance, please do not hesitate to get hold of one of our experts.

THE CHALLENGE

  • Multiple impact across functions and teams; front to back office;
  • Quality and integrity issues on reference data;
  • Cross regulatory requirements not managed on a holistic approach;
  • Significant amount of regulatory requirements to be assessed and translated into business requirements;
  • Lack of understanding of MiFID II challenges around certain areas: OTC pre-trade obligations; Investor protection enhancements; Transaction reporting attributes, etc.

HOW WE HELPED

  • Analysis of regulatory requirements was conducted and compared against the current reference data situation (including workflows and data extract scrutiny).
  • GAP analysis was performed and implementation plan defined.
  • Future strategic solution and Target Operating Model were defined.
  • Remediation effort was assessed and design principles established.
  • Business requirements were submitted to adapt current platforms to MiFID II.

RESULTS

  • Business requirements to transform current architecture submitted.
  • Operational risks analyzed and process gaps identified.
  • Cost-efficient strategic solution designed.
  • Remediation effort measured.

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