A multinational e-money institution
Due to MiFID2, the client wanted a detailed analysis of the impact upon the firm and remedial action required. Analysis had to be detailed for compliance use but with broad summary. Client needed to understand both the impacts and the roadmap for remedial actions.
Approach to engaging with the client
fscom provided the client with a MiFID 2 analysis report outlining the impacts upon the business. Impacts were categorised based on regulatory capital, operational considerations, training and competence and regulatory permissions. Impacts and remedial actions were risk rated to provide a benchmark. Recommended roadmap for implementation for remedial actions were drafted.
Executive summary provided for the Board with follow up presentation.