Smarsh helps businesses get MiFID II ready

  • Step-by-step guide to expanded governance
  • New white paper series outlines expanded voice and electronic communications recordkeeping rules

Data archiving specialist, Smarsh, is urging UK businesses to start preparing now for the advent of MiFID (Markets in Financial Instruments Directive) II ahead of its implementation on 3 January 2018.

To help businesses better understand their new record keeping requirements, a key component of the new regulations, Smarsh is producing a series of white papers. The first in the series, ‘Preparing for MiFID II & MIFIR Recordkeeping’, is available from today.

In the paper Smarsh outlines the revised voice and electronic communications recordkeeping requirements for firms and includes help on how best to demonstrate MiFID II compliance in an efficient and cost effective way.

James Thompson, director comments:

“Businesses are more than familiar with MiFID II and how it will affect their trading activity. But few are aware of how the new regime is going to impact their general recordkeeping obligations.  The sheer scale of the new legislation, and its associated regulations, represents a huge challenge for businesses. Some of the requirements are still a ‘work in progress’ but for those aspects that have been finalised, it’s worth addressing them sooner rather than later.  By starting now firms can make their lives easier by preparing for and then installing a responsive compliance program. “


The guide, available will help financial firms learn:

  • How the expanded governance affects them
  • The specifics of the new recordkeeping requirements
  • How a comprehensive archiving solution can help them get MiFID II ready.


Thompson continues:

“By January 3rd 2018 firms need to be able to archive, supervise and disclose all their electronic communications, inclusive of voice, from any device, personal or business.   This is clearly a more rigorous climate of oversight and enforcement; the first thing firms need to be aware of is what the regulator will look for in a formal examination. A single, comprehensive archiving solution can help to satisfy the full scope of requirements.”





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