PIMFA
 Live, tutor-led online sessions, with our partners Kaizen ReportingÂ
The challenge
Accurate and complete transaction reporting is a legal obligation. Yet many financial firms, even those with significant resources dedicated to this complex requirement, are falling short of regulatory expectations. Quality assurance testing by regulatory specialists Kaizen have found that only 13% of MiFID II transactions are reported accurately.
The consequences of incorrect reporting are serious and include regulatory scrutiny and sanctions, as well as the significant cost and resource involved in remediating incorrect reports.
The solution
The PIMFA Transaction Reporting Academy (TRA) is an innovative, practical and results-focused learning experience that augments your core reporting skills while deepening your knowledge in key areas of the MiFIR reporting requirements.
Please click here for more information
Key reporting requirements
10.00 - 12.00
Key reporting requirements
10.00 - 12.00
This session covers:
- Key reporting requirements
- Reporting of specific trading scenarios (using practical examples)
- Single and grouped orders
- Direct Electronic Access (DEA)
- Complex trades
- Article 4 transmission
- Transactions on non-EEA venues
- Branch reporting (article 14)
- Intra group activity
- Hedging through Contracts for Difference (CFDs) / Swaps
- Changes in notional
- Q&A
Reporting of specific instrument types
10.00 - 12.00
Reporting of specific instrument types
10.00 - 12.00
This session covers:
- Equities & equity related
- Bonds
- Options
- Contracts for Difference (CFDs)
- Spreadbets
- Credit Default Swaps
- Equity swaps
- Total Return Swaps
- Interest Rate Swaps
- FX forwards (spot exemption)
- FX swaps (need to have covered complex trades beforehand)
- Commodity based derivatives
- Emission allowances
- Q&A
Reporting issues
10.00 - 12.00
Reporting issues
10.00 - 12.00
- Common reporting errors / Valid but wrong/tricky fields
- Communicating with regulators
- Remediation (replaying transactions / back-reporting)
- Q&A
Building A Robust Framework
10.00 - 12.00
Building A Robust Framework
10.00 - 12.00
- RTS22 Article 15 walk through
- How to build a robust control framework:
– Part 1 Knowledge & Understanding
– Part 2 – Ownership & Communication
– Part 3 – Oversight & Controls
– Part 4 – Documentation
– Part 5 – Change Management
- Forthcoming regulatory change (EU MiFIR & UK MiFIR)
- Content and timetable
- Q&A
Corporate actions and events (reportability and population of key fields)
10.00 - 12.00
Corporate actions and events (reportability and population of key fields)
10.00 - 12.00
- Definition of a transaction (relevant sections)
- Examples of which corporate actions and events are excluded
- Examples of which corporate actions and events are reportable:
– Initial Public Offerings (IPOs)
– Rights issues
– Takeovers and Mergers
- Additional scenario – reportability of fills vs only reporting allocations/aggregated amount
- A Practitioner’s perspective
- Q&A
- Multiple choice test
More about Matthew Vincent
Matthew is a leading expert in regulatory reporting with almost 30 years’ experience in finance, including more than 10 years’ experience working in regulatory reporting functions at tier 1 banks.
Matthew is part of our regulatory specialist team as a subject matter expert on MiFIR. Prior to joining Kaizen, Matthew spent three years at the London Stock Exchange – UnaVista where he was the director of regulatory reporting strategy. This included providing MiFIR reporting subject matter expertise to clients in the UK and EU. Matthew was also Head of MiFID Regulatory Reporting at Credit Suisse for five years, and previously worked for Barclays Investment Bank in the operational compliance team advising on MiFIR transaction and EMIR reporting. He has also worked at Citigroup and Deutsche Bank.
Matthew chaired the UK Finance Transaction Reporting Working Group for more than 10 years.
More about Simon Appleton
Simon has over 30 years’ transaction reporting experience working at regulatory bodies, trading venues and for the last twelve years in a consultancy role helping banks, brokers, asset managers, wealth managers, ARMs and trading venues meet their MiFIR transaction reporting obligations. He is also one of the leading experts on market abuse and surveillance. Simon achieved this by designing and executing bespoke data integrity testing methodologies, pioneering and developing a robust transaction reporting governance and control framework, and assisting firms remediate their transaction reporting issues to avoid enforcement action. During this time Simon provided firms with technical and operational advice as well as preparing and delivering MiFIR transaction reporting and market abuse training, something he will continue to do at Kaizen.
Like Dario, Simon is also alumni of the Financial Conduct Authority’s Transaction Monitoring Unit (TMU) now Markets Reporting Team. Simon was the team’s first employee and spent 13 years developing the UK’s transaction reporting rules, the regulator’s market abuse surveillance system and advised firms on how to transaction report accurately.
