Posted In Communications

MiFID II Guidance Update

Today we have released an update to the regulation commentary and guidance notes within Axiom, provided by Prin10. These changes incorporate minor adjustments and notes recognising the application of the MiFID II changes to CASS which went into effect from 3rd January 2018.

A summary of these changes can be found below.

If you have any questions about this update, please don’t hesitate to contact us at support@axiomhq.com.

MiFID II Guidance Changes

CASS 1 – ‘Auction regulation bidding’ topic
Commentary added noting that this topic is no longer relevant given updates to CASS rules post-MiFID II. Any existing mappings you have made here are not affected but should be reviewed.

CASS 1A – All ‘Rule Group Responsibility for CASS operational oversight’ topics
Commentaries and control objectives are updated to note new ‘skill and authority’ wording relevant within MiFID II updates.

CASS 1A – ‘Rule Group Responsibility for CASS operational oversight – CASS medium and large firms topics
New control objective added noting CF10a ‘other responsibilities’ topic within MiFID II rule update.

CASS 9 – ‘Rule Group Custody asset and client money reporting’ and ‘Reporting to clients on request’ topics
Notes added around MiFID II revisions and corresponding COBS impact.

In addition all rules added with effect from 3rd January 2018 have been mapped within relevant rule topics as defaults. You can review which topics a rule is mapped to using the ‘Requirement Matrix’ view accessible from the left-hand menu of Axiom and can review and alter these mappings on the individual content screen as appropriate.

Shaun Jeavons | Fri, January 12th, 2018

Shaun Jeavons is a Product Owner at AxiomHQ. He manages the Quality of Life improvements for the Axiom platform liaising with the internal technical team and external clients.

For more information on Axiom HQ and its products:
Email: info@axiomhq.com or Call +44 (0) 20 3965 2166

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