MiFID II: the Markets in Financial Instruments Directive
The Markets in Financial Instruments Directive (MiFID) is EU legislation that regulates firms which provide services to clients linked to ‘financial instruments’ (shares, bonds, units in collective investment schemes and derivatives), and the venues where those instruments are traded.
MiFID has been applicable since November 2007 and was subsequently revised by ‘MiFID II’, which took effect in January 2018 with the aim of improving the functioning of financial markets in light of the 2008 financial crisis and to strengthen investor protection.
MiFID II extended the MiFID requirements in a number of areas including:
- new market structure requirements
- new and extended requirements in relation to transparency
- new rules on research and inducements
- new product governance requirements for manufacturers and distributers of MiFID ‘products’
- introduction of a harmonised commodity position limits regime
Artemis’ approach to MiFID II
The following information sets out Artemis’ approach to and compliance with the MiFID II regulations:
- MiFID II reporting: information about Artemis’ approach to meeting its reporting obligations under MiFID II.
- Target market, product complexity and product reviews: explaining our approach to defining target investor markets and our product development, approval and review lifecycle process for investment products.
- Q&A: further information about MiFID II and PRIIPs across a broad range of commonly-asked topics and questions, including a comparison of UCITS KIIDs and PRIIPs KIDs.
- Policies, data and documents: access to Artemis’ policies regarding MiFID II, plus EPT and EMT data feeds, PRIIPs KIDs and ‘ex-ante’ costs and charges information documents