As part of the authorisation process and an on-going obligation once authorised, every MiFID firm must demonstrate compliance with Regulations 35 (Compliance Function), 36 (Risk Management Function) and 37 (Internal Audit Function). In addition other MiFID Regulations require firms to clearly document their policies and procedures which are designed to secure compliance with MiFID.
Writing Manuals, Policies and Procedures is time consuming and difficult but absolutely essential for effectively managing business and avoiding a regulatory sanction and indeed as a defence to claims of negligence. Compliance Ireland Regulatory Services Limited, experts in MiFID compliance, have uploaded 'Index of Contents' for a MiFID Manual, a MiFID Procedures Manual and a MiFID Compliance Programme on their website. In addition to MiFID Manuals, Compliance Ireland provides Anti-Money Laundering Manuals/Procedures and Data Protection Manuals/Procedures.
Click here for more information at Compliance Ireland’s website
Examples of template Compliance documents are available here:
