MiFID's Record Headache
Compliance
MiFID imposes 55 new requirements for record-keeping, in which firms are accountable for storing and retrieving structured and unstructured data in the context in which it was created.
"MiFID introduces new detailed rules and operational sloppiness will now cost you. If what you have given to the regulators, the market and your customer does not match for up to five years from Nov. 1, you are exposing yourself to [steep] penalties," says PJ Di Giammarino, CEO at London-based think tank JWG-IT.
JWG
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