The Legal Directive: MIFD2: Markets in financial instruments directive Each EU nation most adopt it as national law.
The Regulation: MIFIR: Markets in financial investments regulation Enforces the MIFID2 Directive, must be implemented as-is.
Has impact with these additional regulations: MAR: Market Abuse Regulation CSMAD: Criminal Sanctions for Market Abuse Directive PRIIPS: Packaged Retail & Insurance Based Investment Products UCITS 5: Undertakings for Collective Investment in Transferable Securities AIFMD: Alternative Investment Fund Managers Directive IDD: Insurance Distribution Directive
WHAT MUST BE ARCHIVED?
Voice, transaction & electronic communications regarding the production, sale and distribution of financial instruments.
To preserve and make transparent financial data for investor protection and delivery to clients and regulators.
ARCHIVED FROM WHAT?
Company equipment and personal electronic equipment approved by a firm for transactional use.
ARCHIVE ON WHAT?
A durable medium that prevents alteration. (Write Once Read Many)
ARCHIVE FOR HOW LONG?
Minimum 5 Years, Up to 7 Years
MIFID2 affects financial companies doing business in the EU and those from the rest of the world that do business in the EU.