FREE WHITE PAPER:
MiFID II Chain of Sale Reporting
The newest iteration of MiFID almost triples the amount of data firms are required to report against - from 24 to 65. This report defines and details everything you need to know in preparing for the updated chain-of-sale audit process.
As regulations, particularly in the EU, evolve to account for the ever-changing digital landscape, it it more important than ever to ensure your organization’s transaction reporting is compliant. Half the battle with compliance is ensuring your organization processes and stores data in a way that’s easy to track, and match to the relevant individual, account, or transaction.
In this whitepaper, we explore how chain-of-sale reporting differs under MiFID II compared to its predecessor. The FCA made these updates in an effort to make transactions more transparent. Highlights of the directive include:
- New field types, such as flags, to help regulators properly parse transactions
- Number of fields companies are required to report upon has increased to 65
- Buyers and sellers are beholden to similar, but distinct, reporting standards
- Entities must now report against 10 categories of data when audited
Our platform harnesses data from multiple systems of record and delivers that information to your customer-facing teams, with the ultimate goal of paving the roads of the customer journey for frictionless travel. Tenfold captures every touchpoint with the prospect along their way to becoming a customer, and then as they evolve from customer to evangelist.