Law firm Simmons & Simmons has launched a new practical online tool for its clients in the financial institutions and asset management sectors to help guide them through the steps that need to be taken for MiFID2/MiFIR compliance.
Simmons & Simmons MiFID2 Manager sets out key information on how a particular MiFID2/MiFIR requirement applies to different types of firms, to what services or activities, and to different client types. It focuses on the EU Level 1, 2 and 3 text as well as local implementation/gold plating issues in the UK and other key EU jurisdictions. There will be different versions depending on firm type. The tool will be regularly updated to give clients a current, in addition to a way of tracking the legal developments, a step by step list of action points to assist with compliance.
Charlotte Stalin, partner in the firm’s financial services team who has had led the creation of the tool, says: “We are dedicated to providing our international client base with the best tools and resources in the market for navigating MiFID2 reform. Simmons & Simmons MiFID2 Manager goes beyond other available tools by not just detailing the legislative requirements, but identifying how they will apply to the firm and by providing the firm with the practical steps to be taken to implement the requirements”.
The MiFID2 Manager has already gained significant interest in the market after the firm provided clients with an exclusive preview of the new tool at the firm’s Autumn Legal Update in London.
The new tool is available on a subscription basis via the firm’s award winning online legal resource, elexica.com. In addition to The MiFID2 Manager tool, elexica hosts free in-depth MiFID2 resources developed by the firm’s international financial services team, including a MiFID2 tracker.
