With the MiFIR implementation date now behind us, Mark Kelly, Director of Professional Services, reflects on the technical challenges reporting firms and Approved Reporting Mechanisms (ARMs) have come up against, and the uncertainty that remains. Although the regulators have also experienced their fair share of teething issues, there is no formal grace period for error. Therefore, it is widely recommended that market participants keep a record of their best efforts to fulfill their obligations under the regime.
Mark assesses scope and reportability confusion, guidance and validation, the National Competent Authority (NCAs) interpretation of applying validations the and implementation readiness and static data.
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