There are more extensive requirements for reporting under MiFID II as well as a requirement to provide greater transparency around the costs and charges associated with managing clients’ mandates.
LEI provision and maintenance
As with the EMIR regulations, the MiFID II regulations require all segregated clients to obtain and maintain their own Legal Entity Identifier (LEI). Without a valid LEI, we will be unable to trade on a client’s behalf. It is therefore important that they maintain their LEI by completing the annual renewal.
As European managers will no longer be able to accept free research from execution brokers, all European investment firms have been considering their approach to research. Insight has taken the decision to absorb all costs associated with any externally sourced investment research used by our London-based investment teams.
We have made certain updates to our policies and procedures:
- Conflicts of interest: when we provide services to clients, we, or one of our affiliates, may have an interest, relationship or arrangement that is in conflict with or otherwise material in relation to those services. Conflicts of interest may also arise between our different clients. We have a conflicts of interest policy in place and have implemented procedures and arrangements to identify and manage such conflicts.
- Order execution: MiFID II requires firms to take sufficient steps to achieve best execution when trading with or for their clients and defines the content of specific client disclosures. Download.
- Complaints handling: MiFID II enhances the rules and procedures on how we should handle client complaints; our updated complaints handling policy is available on request.