Spring/Summer 2018 Edition

  • 1626

    MiFID II Reporting: Creating a Tighter Operational Process and Control Framework

    Past regulatory regimes highlight that a failure to implement the appropriate processes and controls at a regulation’s inception leads to higher costs, with some banks spending between $10 million and $25 million. These costs take the form of large regulatory fines or major remediation programs that are required to address undetected issues by the inferior initial process. In this article, Shashi Prabhu and Marcus Cambray outline the importance of a tighter process and control framework for MiFID II external reporting, including critical factors for success.