Podcast: BIG changes for retail traders. MiFID II, Chinese government crackdown and the right and proper way to run an FX business
Around the world in 30 minutes with FinanceFeeds CEO Andrew Saks-McLeod. Don’t want your client base being viewed publicly? Don’t want to get blocked from certain regions? We also look at why small firms that do not structure their operations properly have no future. Here is a very opinionated explanation on what faces retail FX globally, and how to get it right.
FinanceFeeds CEO Andrew Saks-McLeod unleashes what you need to know about the upcoming MiFID 2 (Markets in Financial Instruments Directive) rules for the New Year with Tom Constable at TwoBlokesTrading.com
On January 3rd the rules are changing across continental Europe and the UK. This new legislative framework will strengthen investor protection and improve the functioning of financial markets making them more efficient, resilient and transparent.
MiFID 2 sets out:
- Conduct of business and organisational requirements for investment firms.
- Authorisation requirements for regulated markets.
- Regulatory reporting to avoid market abuse.
- Trade transparency obligation on all OTC derivatives and exchange listed assets.
- Rules on the admission of financial instruments to trading.
Andrew breaks down all of this and fills our brains with why these changes are a GOOD thing for retail traders, how it will impact the average person, and what you need to do to stay safe and take advantage of these increased protections as a broker or service provider as well as from the retail traders’ point of view.
We lambast the ICO schemes and dissect why governments around the world are now wise to anything disingenuous, and look at the progress made this year by some of the best firms int the business.
The podcast can be heard here:
