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For Whom the Bell Tolls: MiFID II and the Death of Management by Policy 

On January 3rd, 2018 MiFID II – the "Markets in Financial Instruments Directive II" came into effect. At its heart is the EU wide requirement for the mandatory recording of mobile telephone calls and electronic communications. It will affect most investment firms trading in the EU. This paper looks at changes in the law and the experiences in the UK and will consider why Managing By Policy is no longer a safe, viable choice to meet MiFID II requirements.

This paper will address several key areas:

  • The New EU Environment
  • The UK Experience of Call Recording
  • Why Managing By Policy Fails
  • Ever Evolving Technology