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CMP9663 Mastering MiFID II for Capital Markets Compliance Practitioners

$199.00
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A tailored course, built for your situation

Mastering MiFID II for Capital Markets Compliance Practitioners

Build defensible, source-backed compliance reasoning that holds up under peer review and regulatory scrutiny.

$199 one-time
24-hour access provisioning 30-day money-back guarantee Hand-built implementation playbook
12 modules. 12 chapters per module. 144 chapters total.
12 modules, each with 12 chapters (144 chapters total), text-based, plus downloadable templates and a hand-built implementation playbook delivered alongside course access.
Peers challenge your compliance calls not because they’re wrong, but because you can’t quickly show why they’re right.

The situation this course is for

You’ve done the work, followed the process, and documented your controls, but in review sessions, your rationale gets questioned. Not because it's flawed, but because you can't instantly point to the exact article, precedent, or example that supports your interpretation. That gap erodes confidence, even when you're correct.

Who this is for

Senior compliance practitioner in financial services, responsible for implementing and defending MiFID II requirements within audit cycles and cross-functional reviews.

Who this is not for

Entry-level analysts who don’t own interpretation calls, or executives who rely on teams to explain details. This is for individual contributors who must defend their judgment directly.

What you walk away with

  • Cite MiFID II articles and ESMA guidance accurately during peer challenges
  • Walk through the reasoning behind trade reporting rules using real audit examples
  • Reference specific provisions in RTS 22 and RTS 27 when questioned on data transparency
  • Explain best execution obligations with sourced case examples from past EBA findings
  • Structure documentation so your logic is clear, traceable, and defensible on first review

The 12 modules (with all 144 chapters)

Module 1. Foundations of MiFID II: Structure, Scope, and Evolution
Understand the legislative architecture of MiFID II, its relationship to MiFIR, and how ESMA’s role shapes enforcement. Establish a clear baseline for compliance reasoning.
12 chapters in this module
  1. Tracing MiFID II from Directive the current cycle to RTS finalisation
  2. Key differences between MiFID I and MiFID II scope
  3. How ESMA’s Q&As influence national regulator decisions
  4. The role of the European Commission in delegated acts
  5. Understanding the separation of execution and research
  6. When MiFID II applies vs when CFTC or SEC rules take precedence
  7. Structure of Title I through Title VI in practical terms
  8. How RTS and ITS specifications change implementation
  9. The purpose of Article 4 exemptions and how they’re audited
  10. Differences between firm-level and product-level compliance
  11. How Brexit altered MiFID II application for UK-linked entities
  12. Mapping MiFID II to internal policy numbering systems
Module 2. Best Execution: Requirements, Evidence, and Peer Challenges
Master the reasoning behind best execution obligations, including how to document and justify broker selection, venue choice, and cost transparency.
12 chapters in this module
  1. Defining best execution under Article 27 and RTS 27
  2. How to structure a broker assessment methodology
  3. Documenting venue quality beyond latency metrics
  4. Using transaction cost analysis as supporting evidence
  5. Responding to pushback on dark pool usage
  6. When cost transparency outweighs execution speed
  7. How ESMA’s the current cycle findings shifted broker review expectations
  8. Mapping execution quality to client type and order size
  9. Integrating liquidity provider data into decision logs
  10. Handling pushback from internal quants on routing logic
  11. Proving best execution when no single venue wins on all metrics
  12. Building a defensible rebuttal to 'we could have done better' claims
Module 3. Trade Reporting: Accuracy, Timeliness, and Data Fields
Ensure complete and correct reporting to ARMs and regulators with precise mapping of field requirements and error handling.
12 chapters in this module
  1. Understanding the 65 fields required in a standard report
  2. Common errors in execution timestamping and how to avoid them
  3. Mapping ISO 20022 standards to MiFID II report templates
  4. When to report off-market trades and corrections
  5. Handling OTC derivatives under SFTR overlap
  6. Client classification fields: professional vs eligible counterparty
  7. Using LEIs correctly in counterparty identification
  8. Timezone handling for cross-border executions
  9. Reconciling internal trade logs with ARM submissions
  10. Responding to regulator queries on report backlogs
  11. How CESR’s guidance shapes ARM data quality expectations
  12. Building a checklist for pre-submission validation
Module 4. Inducements and Conflicts: Managing Commissions and Research
Navigate the strict separation of trading commissions and research payments with clear, auditable policies.
12 chapters in this module
  1. Defining what qualifies as an inducement under Article 22
  2. When bundled commissions breach inducement rules
  3. Creating a compliant research payment policy
  4. Using RPA to track research consumption and budget use
  5. Documenting approval for minor non-monetary benefits
  6. How ESMA’s the current cycle review tightened soft dollar rules
  7. Handling third-party content distribution within compliance
  8. When internal research must be treated as an inducement
  9. Separating research budgets from execution budgets in practice
  10. Auditing research spend against analyst engagement logs
  11. Responding to internal audit on desk-level research usage
  12. Building a defensible position when peers push back on allocations
Module 5. Product Governance: KID, Target Market, and Suitability
Implement robust product oversight rules for retail and professional clients, with clear target market documentation.
12 chapters in this module
  1. Mapping MiFID II product governance to PRIIPs KID rules
  2. Defining target market for structured products
  3. Documenting distribution restrictions by jurisdiction
  4. Client suitability assessments for leveraged products
  5. When a product must be redesigned based on review data
  6. Using complaint trends to inform target market updates
  7. Integrating CRM data into product governance reviews
  8. How ESMA’s the current cycle guidelines raised bar for retail products
  9. Handling cross-border distribution conflicts
  10. Building audit trails for product approval committees
  11. Responding to regulator follow-ups on distribution logs
  12. Creating a defensible rationale for high-risk product approvals
Module 6. Algorithmic Trading: Compliance and Pre-Trade Controls
Ensure algorithmic strategies meet MiFID II’s rigorous standards for transparency, testing, and oversight.
12 chapters in this module
  1. Defining what qualifies as algorithmic trading under RTS 11
  2. Required pre-trade risk controls for automated strategies
  3. Minimum tick size compliance in algorithm design
  4. When algo strategies require regulator notification
  5. Post-trade surveillance of self-trading patterns
  6. Documenting circuit breaker logic for internal review
  7. Testing protocols for latency-sensitive strategies
  8. Integrating market data quality checks into algo logic
  9. Handling backtesting discrepancies with regulators
  10. How ESMA’s the current cycle report changed algo monitoring expectations
  11. Mapping algo logic to trade reporting categories
  12. Building defensible justifications for strategy modifications
Module 7. Transaction Reporting: Challenges and Audit Findings
Anticipate common failure points in transaction reporting and build responses that reference real regulatory findings.
12 chapters in this module
  1. Top 10 errors identified in FCA enforcement actions
  2. How timestamp precision affects execution sequence claims
  3. Correcting reports without triggering scrutiny
  4. Handling multi-leg trades and composite instruments
  5. When to report novations and when not to
  6. Mapping OTC confirmations to transaction reports
  7. Reconciling internal blotter data with ARM output
  8. Responding to ESMA aggregate data queries
  9. Using sample datasets from past enforcement cases
  10. Building traceability from trade capture to final report
  11. How peer firms resolved backreporting obligations
  12. Creating a defensible rationale for timing variances
Module 8. Compliance Function: Independence and Resources
Strengthen the compliance function’s role with documented authority, escalation paths, and resourcing justification.
12 chapters in this module
  1. Defining functional independence under Article 16
  2. Documenting budget and staffing decisions for regulators
  3. Creating clear escalation paths for breach reporting
  4. When compliance can halt a trading strategy
  5. Integrating with internal audit without duplication
  6. Using past enforcement cases to justify headcount
  7. Balancing control ownership across front and middle office
  8. Reporting directly to senior management with evidence
  9. Handling conflicts between PnL and compliance mandates
  10. Building defensible positions on resourcing constraints
  11. Referencing ESMA guidelines on compliance function size
  12. Mapping compliance activities to MiFID II article citations
Module 9. Market Abuse Regulation: Integration with MiFID II
Align MiFID II transaction reporting with MAR requirements for insider lists, suspicious transactions, and disclosures.
12 chapters in this module
  1. Defining PDMRs under MAR and their reporting duties
  2. Maintaining and updating insider lists automatically
  3. Detecting suspicious transactions in dark pools
  4. Integrating transaction monitoring with MAR thresholds
  5. Handling delayed disclosures with documented rationale
  6. Responding to ESMA queries on position limits
  7. Mapping dual reporting requirements: MiFID II and MAR
  8. Using machine learning to flag potential insider patterns
  9. Documenting decisions not to report borderline cases
  10. Building audit trails for insider trading investigations
  11. How national regulators coordinate MAR enforcement
  12. Creating defensible rebuttals to false positive alerts
Module 10. Client Categorisation: Professional, Retail, Eligible
Ensure accurate client classification with documented assessments and clear rationale.
12 chapters in this module
  1. Criteria for professional client status under MiFID II
  2. When eligible counterparty status applies
  3. Documenting client knowledge and experience assessments
  4. Handling self-certification with audit trails
  5. Reviewing client status after significant changes
  6. Integrating CRM data into categorisation decisions
  7. Responding to regulator follow-ups on classification
  8. Avoiding misclassification in cross-border onboarding
  9. Using transaction history to support categorisation
  10. Building defensible positions on borderline clients
  11. Referencing ESMA’s guidelines on client treatment
  12. Mapping client types to reportable fields in trade data
Module 11. Record Keeping: Duration, Format, and Accessibility
Meet MiFID II’s record retention requirements with structured, retrievable documentation.
12 chapters in this module
  1. Minimum retention periods for trade records and communications
  2. Acceptable formats for electronic storage
  3. Indexing voice recordings for regulator queries
  4. Using metadata to accelerate retrieval
  5. Handling cross-border data sovereignty issues
  6. Integrating email archiving with trade reporting
  7. Responding to ESMA’s data access requests
  8. Building defensible positions on data loss incidents
  9. Using encryption without blocking access
  10. Mapping retention policies to article-specific rules
  11. Testing retrieval processes under time pressure
  12. Documenting destruction procedures with audit logs
Module 12. Regulatory Engagement: Responding to Inquiries and Reviews
Prepare for regulator inquiries with source-backed, clearly structured responses.
12 chapters in this module
  1. Structuring responses to ESMA data calls
  2. Using MiFID II text to support interpretation choices
  3. Referencing past enforcement actions in replies
  4. Building response templates with citation placeholders
  5. Coordinating input from legal, compliance, and tech
  6. Handling follow-up questions without overcommitting
  7. Preparing for on-site inspection workflows
  8. Using internal audit findings as prep material
  9. Documenting rationale for changes post-review
  10. Building defensible positions on ambiguous rules
  11. Integrating external counsel input without losing ownership
  12. Closing loops after regulator feedback is received

How this maps to your situation

  • Initial policy setup and interpretation
  • Ongoing audit and peer review cycles
  • Regulatory inquiry preparation
  • Post-review improvement planning

Before vs. after

Before
Having to rely on team consensus or senior approval when compliance decisions are challenged.
After
Being able to walk through the full reasoning, citing specific MiFID II provisions, ESMA guidance, and audit precedents, with confidence and clarity.

What's included with your purchase

  • 12 modules with 12 chapters each (144 chapters)
  • Downloadable templates and worked examples for every module
  • Hand-built implementation playbook delivered alongside course access
  • 30-day money-back guarantee

Delivery and format

  • Course and learning environment access provisioned within 24 hours of purchase
  • Hand-built implementation playbook delivered alongside course access

Format: Text-based modules and chapters in the Art of Service learning environment, plus downloadable templates and worked examples for every chapter, plus the hand-built implementation playbook delivered alongside course access.

Time investment: Approximately 90 minutes per module, designed to be consumed incrementally over 8, 10 weeks. Total investment: ~18 hours.

If nothing changes
Without defensible reasoning, even correct decisions can be overturned in review, damaging credibility and increasing exposure to findings.

How this compares to the alternatives

Generic compliance courses teach broad principles. This course teaches how to defend your specific MiFID II decisions using actual text, enforcement data, and regulator expectations, so you’re never left searching for the right reference.

Frequently asked

Is this course focused on UK or EU MiFID II implementation?
It covers both, with clear distinctions between FCA and ESMA expectations, Brexit-related changes, and cross-jurisdictional reporting.
How is the course structured?
12 modules, each containing 12 chapters (144 chapters total).
Will this help me in audit defense?
Yes. Every module includes real audit findings, how to cite rules correctly, and examples of successful rebuttals.
$199 one-time. Approximately 90 minutes per module, designed to be consumed incrementally over 8, 10 weeks. Total investment: ~18 hours..

Within 24 hours your account in the learning environment is provisioned and the tailored implementation playbook is delivered alongside it.

30-day money-back guarantee· 144 chapters· Hand-built playbook included· Account access within 24 hours
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