Firms can expect a "degree of flexibility" by the regulator when it comes to the enforcement of MiFID II next year but there is likely to be a "zero tolerance approach" to the most straightforward areas, according to Linda Gibson, director of regulation and compliance risk at BNY Mellon's Pershing.
MiFID II, which comes into force in January 2018, outlines a host of product governance requirements to ensure the suitability of fund products for the end client. It aims to ensure transparency in...
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