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What's New? 

 

 

  1. 10 May 2010 Ireland amends the MiFID Regulations

    The Minister for Finance has issued the European Communities (Markets in Financial Instruments)(Amendment) Regulations 2010 [S.I. 192 of 2010]. This statutory instrument simply updates the name of the Main Securities Market of the Irish Stock Exchange for the purposes of Regulation 6(3) of the main MiFID Regulations (S.I.60 of 2007 - as amended).

    Click here for a copy of S.I. 192 of 2010.

  2. 18 March 2010 EU amends the Banking Consolidation Directive again

    The EU has issued Directive 2010/16/EC amending the Banking Consolidation Directive (2006/48/EC). This amending directive simply excludes Slovenian state-owned bank SID Bank from the scope of the Banking Consolidation Directive.

    As this Directive is simple and uncontroversial, transposition into national law is required by 30 June 2010. The national law provisions should take effect from 1 July 2010. The Banking Consolidation Directive has previously been amended by Directives 2009/83/EC and 2009/111/EC. This last Directive implements the CRD2 changes. Transposing legislation for Directives 2009/83/EC and 2009/111/EC is required by 31 October 2010, so a busy couple of months lie ahead for the draftsperson.

    Click here for a copy of Directive 2010/16/EC.

  3. Compliance Ireland's MiFID Update - The Experience of 2009 and the Challenges for 2009: Thursday 18th February 2010
    • Date: Thursday 18th February 2010 (8.00am to 9.30am)
    • CPD: Up to 1.5 hours.
    • Speaker - Martin Moloney, Head of Market Supervision at the Financial Regulator
    • Speaker - Kevin O'Doherty, Director of Compliance Ireland.
    • Speaker - Peter Oakes, Managing Director of Compliance Ireland.  
    • Seminar papers now available for purchase
  4. European Commission updates its ‘MiFID Q & A’ page February 2010 - http://ec.europa.eu/yqol/index.cfm?fuseaction=question.show&questionId=870

 

  1. Compliance Ireland has written a number of Newsletters dealing with MiFID - see Newsletters at

http://www.complianceireland.com/Newsletter.html

 

  1. Compliance Ireland uploads Hot Topic issues between Newsletters on MiFID - see Hot Topics at http://www.complianceireland.com/HotTopics.html

 

  1. Compliance Ireland has uploaded slides from its seminar MIFID update - The Experience of 2008 and the Challenges for 2009 (Seminar Presentation 27 February 2009)
  2. MiFID Seminar: MiFID Update - The experience of 2008 and the challenges for 2009.  Speakers - Anne Troy, Head of Investment Service Providers, Supervision at the Financial Regulator and Kevin O'Doherty, Director and Peter Oakes, Director of Compliance Ireland.  This important 90 minute presentation on MiFID was held on Friday 27th February 2009 (8.00a.m. to 9.30a.m.). This important 90 minute presentation on MiFID was being held on Friday 27th February 2009 (8.00a.m. to 9.30a.m.) and featured important updates from the Financial Regulator and industry practitioners. Click here to download the seminar presentations.  To be kept informed of such events in future send an email to news@complianceireland.com and you will be added to our circulation list (which you can be removed from at anytime by emailing deleteme@complianceireland.com). Topics covered at this important seminar were:

 

1.       The scope of the current MiFID requirements;

 

2.       What the Financial Regulator looked for at firms in 2008 and what is likely to be asked for in 2009;

 

3.       Interaction with the Client Asset Requirements;

 

4.       Interaction with the Capital Requirements Directive;

 

5.       Reporting Requirements (to the Financial Regulator);

 

6.       Client Classifications;

 

7.       Internal Controls and Fraud;

 

8.       Keeping Business Plans, operational/compliance/risk and internal audit procedures up to date;

 

9.       Risk management.

 

10.   Enforcement and Administrative Sanctions Regime.

 

 

  1. Compliance Ireland's 3/2008 (July 2008) Newsletter available at http://www.complianceireland.com/Newsletter.html contains a detailed article on the (Irish) Financial Regulator's recent request from MiFID firms on their Risk Management and Internal Controls.  Firms were required to respond to the Financial Regulator by 18th July confirming that: (i) all necessary internal controls and risk management processes were in place; or (ii) where these are not in place, the firms were required to provide details of remedial action work and timelines for implementation.  If your firm is experiencing difficulty in responding to the letter, contact Peter Oakes or Kevin O’Doherty at +353 1 425 5962 or by email at email@complianceireland.com for assistance.

 

  1. 20 July 2008: Website updated.  New pages added for templates for Compliance Manuals & Procedures and Getting Authorised.

 

  1. 1 January 2008: Our Downloads page has been updated to include the Market in Financial Instruments Act, its commencement Order and the three Regulations constituting the MiFID Regulations.

 

  1. 1 November 2007: The last piece of the MiFID jigsaw falls into place as Minister Cowen signs the Commencement Order for the Market in Financial Instruments & Miscellaneous Provisions Act 2007. MiFID goes live in Ireland. 

 

  1. 27 October 2007: Financial Regulator presentation to investment firms - breakfast briefing 23 October 2007.  Click here to go to our MiFID Download page.

 

  1. 16 August 2007: Our Downloads page has been updated to include the Financial Regulator's letter and attached appendices seeking an Article 4 national Gold-Plating permission for Ireland on MiFID.

 

  1. 13 August 2007: Our Downloads page has been updated to include the Financial Regulator's advice letter to MiFID firms dated 6 July 2007 and a Feedback Document dealing with Client Categorisation, Suitability and Appropriateness, Provision of information, Reporting to Clients and Investment Research.

 

  1. 16 July 2007: Our MiFID & IFSRA page has been updated to include the Financial Regulator's Feedback on Discussions of Conduct of Business Industry Working Group located http://www.mifid.ie/FRConductofBusiness.html and we have also included the Financial Regulator's FAQs on Transaction Reporting located at http://www.mifid.ie/FRTransactionReporting.html

 

  1. 24 June 2007: Our MiFID & IFSRA page has been updated to include all MiFID material published by the Financial Regulator.  This webpage replicates the Financial Regulator’s MiFID webpage. Go to http://www.mifid.ie/mifid&ifsra.html for more information. The webpage was created in May 2007 because it was historically difficult to link readers to the regulator’s MiFID webpage (a dynamic php file page).  Our good faith intention is to simply help firms locate essential MiFID material posted on the regulator’s website.  Other regulatory websites are located in the Links page

 

  1. 24 June 2007: We have uploaded a speech by Con Horan, Prudential Director, Financial Regulator to the European Institute on 14 June 2007 on The MiFID in Ireland and the Impact on the Asset Management Industry which can be found by clicking here

 

  1. 10 May 2007: New MiFID & IFSRA page added to the website.  The new webpage replicates the Financial Regulator’s MiFID webpage. Go to http://www.mifid.ie/mifid&ifsra.html for more information. The webpage was created because it was historically difficult to link readers to the regulator’s MiFID webpage (a dynamic php file page).  Our good faith intention is to simply help firms locate essential MiFID material posted on the regulator’s website.  Other regulatory websites are located in the Links page.

 

  1. 27 April 2007: The Markets in Financial Instruments and Miscellaneous Provisions Bill 2007 (Bill Number 34 of 2007) (right click the icon adjacent to download or open in a new window).

 

  1. 20 February 2007:  Ireland signs MiFID into local law: The Minister for Finance, Mr. Brian Cowen T.D., today (Tuesday 20 February 2007) welcomed the fact that Ireland is one of the first Member States to fully transpose the Markets in Financial Instruments Directive, or “MIFID” as it has come to be known. This has been achieved with the close assistance of the Financial Regulator and strong co-operation from industry. Go to http://www.mifid.ie/MiFIDIreland.html for more information which will lead you to the webpage where you can download the latest draft Irish MiFID regulations

 

  1. Training on MiFID: In response to enquiries, we have developed a half-day MiFID training workshop and in-house courses for various types of Irish firms.  More details can be found at http://www.mifid.ie/Training.html.   

 

  1. UK meets MiFID transposition deadline: On Friday 26 January 2007 (5 days before the deadline) the UK FSA finalised all matters required to transpose MiFID at Level 1 and Level 2 into the United Kingdom. As our mission is to keep this website focus on MiFID at European Union and Irish level.  We do not intend to post detailed information on the implementation of MiFID in other countries.  Please go to the UK FSA's website at   http://www.fsa.gov.uk/pages/Library/Communication/PR/2007/013.shtml to read more about MiFID in the UK.





|Welcome| |What's New| |About MiFID| |MiFID in Ireland| |MiFID Advice| |Getting Authorised| |MiFID Compliance Manuals| |MiFID Updates| |MiFID Training| |MiFID & IFSRA| |MiFID Download| |MiFID Links| |Privacy Statement| |Advertising|