Category: Articles Post Date: November 16, 2017

Holidays ruined due to MiFID II requirements

A Bloomberg article pointed out that MiFID II compliance may ruin the holidays of employees trying to meet regulatory deadlines. The overhaul of financial-services rules in the European Union, that comes into effect in January, is resulting in late nights for workers and consultants as firms rush to be ready.

While the Financial Conduct Authority warned earlier this year that some companies have not yet managed to meet compliance deadlines, there is still confusion surrounding legislation, as EU regulators themselves need to make key decisions and clarifications.

Teams heavily involved in MiFID II implementation are bored from spending most of their free time studying the rules. They miss out on post-work drinks or holiday parties because they need to focus on the directive. Some say that if you started MIFID II projects too late in the year, you won’t have time for anything else including Christmas.

Here at Born Technologies, we don’t want you to miss your holidays or time with family due to regulatory compliance. We have enhanced our CrossCheck solution to help with MIFID II requirements such as DEA monitoring, Algo management and Transaction Reporting. If you want a normal holiday schedule this year, give us a call.