The common European regulatory framework, MiFiD II, was initiated on the 3rd of January 2018, however, it was introduced to complement the already existing EU regulation of EMIR. When the EMIR regulation came into effect in 2014, hundreds of financial institutions professionals such as asset managers, brokers, hedge fund managers and CFD brokers, etc, suddenly needed to comply with new derivative reporting rules. Firms falling under the scope of both regulatory standards must fulfil certain regulatory reporting obligations and keep internal records for additional metrics on those reports.
For further information, visit website.
