How to prepare the MiFID Annual Compliance Report in 2023
Entities licensed to provide investment services are required to maintain a permanent compliance function, that operates effectively and independently from other functions. The compliance function belongs to the higher ranks of the organisational structure of an investment firm and is entrusted with the necessary authority and resources to perform its duties.
The Compliance Officer reports directly to the firm’s Board of Directors (BoD) and Senior Management (SM). In this respect, the compliance function is responsible to prepare and submit the Compliance Annual Report to the BoD. The said report examines the firm’s level of compliance with the Markets in Financial Instruments Directive (MiFID).
Throughout this commentary, the SALVUS Regulatory Compliance team introduces key aspects of the Compliance Annual Report, as follows:
- The MiFID Compliance Report
- Timeline & Reference Period
- Inspections of the Compliance Function
- CySEC Circular C553
Follow us on LinkedIn to #StayAhead — we regularly share bite-sized insights on LinkedIn such as those found in this article.
Find the full article here: https://salvusfunds.com/2023/04/13/how-to-prepare-the-mifid-annual-compliance-report-in-2023/
