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Somewhat off-topic question: has anyone ever been seriously punished for violating MiFID requirements? Has anyone ever tried to ask a market participant for fiv
by reisse 3y ago
Somewhat off-topic question: has anyone ever been seriously punished for violating MiFID requirements? Has anyone ever tried to ask a market participant for five years old trading data and verify it is synchronized with UTC?
I've yet to see anyone who seriously tried to be compliant both to the spirit and to the letter of MiFID. It's both hard and expensive to the point where the fine expectancy might be lower than implementing costs. Everyone do just enough to plausably deny they're not compliant.
- gpderetta 3y agoAt $PREVIOUS_JOB non-compliance was really not an option. Just in my team, for two years, we had at least two people at any time working on MIFID-II compliance upgrades. We had multiple levels of recording, the last resort was really storing raw pcaps of trading recording. Very expensive.