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dc.identifier.citationChircop, K. (2018). Understanding MiFID II:implications and the way forward (Bachelor's dissertation).en_GB
dc.description.abstractPurpose: The aim of this study is to analyze the implications of MiFID II on financial institutions and market operators. MiFID II came into force on the 3rd of January 2018. The fulcrum of this directive is to increase the level of consumer protection. A second objective is to make markets more transparent. Design: This study makes use of semi-structured interviews. Interviewees were asked open-ended questions so that they could express their views. Interviews were conducted with six market players, one market operator and the national competent authority. Findings: From the interviews conducted it was found that financial institutions faced several challenges to deal with the new record keeping requirements. Financial institutions are incurring more costs to be MiFID II compliant. Another finding was that implementing MiFID II across the various levels of staff was challenging. Most of the respondents stated that the quality of service will not improve because consumers do not read the additional information that they will be receiving. Conclusion: In the future servicing small retail investors might no longer be viable. Additional disclosure should be complemented with more financial education. The EMT template should be made compulsory across the board. Till now financial institutions are absorbing the additional regulatory induced costs. In the future they might have to pass on these costs on to their clients.en_GB
dc.subjectFinancial instruments -- European Union countriesen_GB
dc.subjectFinancial services industry -- Law and legislation -- European Union countriesen_GB
dc.subjectStockbrokers -- Legal status, laws, etc. -- European Union countriesen_GB
dc.subjectInvestment advisors -- Legal status, laws, etc. -- European Union countriesen_GB
dc.titleUnderstanding MiFID II : implications and the way forwarden_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentFaculty of Economics, Management and Accountancy. Department of Banking and Financeen_GB
dc.contributor.creatorChircop, Karl-
Appears in Collections:Dissertations - FacEma - 2018
Dissertations - FacEMABF - 2018

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