BRAXXON News - Some banks have not yet started to evaluate the impact of MiFID.
The current series of BRAXXON Briefing Lunches, launched last September, continued at the end of May to an invited audience of 26 senior bankers. Rob Millington, Executive Director, and Sophie Colin, Senior Consultant, presented the challenges that the Markets in Financial Instruments Directive (MiFID) will place upon the respective firms. Some of the larger institutions already have MiFID project teams in place. However, it soon became apparent during the discussion that there are still a number of players who have yet to embark on any evaluation to identify the impact of MiFID on their organisations.
By the end of the Briefing, the clear consensus message was that the date set for compliance is unlikely to be further delayed and the imperative is to mobilise now to assess MiFID's impact from both a business and IT perspective.