This episode explores Transaction Reporting under MiFID II and MiFIR, with a focus on the challenges firms face, the lessons learned from recent FCA enforcement action, and how upcoming regulatory changes may impact firms in the UK.
We delve into the importance of robust internal controls, dealing with errors and omissions, and the necessity for proactive reporting to the FCA. The conversation also highlights forthcoming changes to the reporting framework and practical advice for smaller firms on managing compliance more effectively and staying ahead of regulatory expectations.
Joining the discussion are Maria Fritzsche, Senior Policy Advisor at PIMFA, and Matthew Vincent, Managing Director at Kaizen, hosted by David Ostojitsch, PIMFA’s Director of Government Relations. As always, on PIMFA podcasts, our guests provide practical advice for PIMFA member firms of all sizes on improving their compliance efforts, focusing on maintaining accurate and complete reporting.
00:35Â Overview of Transaction Reporting
01:06Â Historical Context and Evolution
05:00Â Challenges in Transaction Reporting
07:32Â Error Detection and Control Frameworks
09:51Â Regulatory Fines and Compliance
13:59Â Advice for Firms and Best Practices
22:20Â Future of Transaction Reporting
27:57Â Conclusion and Final Thoughts