MiFID II / MiFIR
The Markets in Financial Instruments Directive II (Directive 2014/65/EU) and the Markets in Financial Instruments Regulation (Regulation EU No 600/2014) constitute the EU's comprehensive framework for financial markets. Effective 3 January 2018, the framework sets rules for investment firms, trading venues, market transparency, and investor protection, and has been amended through a series of Delegated Acts and Regulatory Technical Standards (most recently in 2023) to address emerging market practices and regulatory objectives.
MiFID II / MiFIR is a compliance framework from European Union with 8 domains and 8 controls that map to 30 other frameworks. The largest domains are Algorithmic Trading and Market Structure - MiFID II (1 controls), Best Execution Order Handling - MiFID II (1 controls), Client Categorisation Suitability and Appropriateness - MiFID II (1 controls). Every control below carries what it requires and what an assessor expects to see.
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Framework Domains (8)
Algorithmic Trading and Market Structure - MiFID II
| Code | Title |
|---|---|
| MiFID-II-Algorithmic-Trading-Article-17-HFT-RTS-6-Tick-Size-Direct-Electronic-Access-Market-Making | MiFID II Algorithmic Trading + Article 17 + HFT + RTS 6 + Tick Size + Direct Electronic Access + Market Making |
Best Execution Order Handling - MiFID II
| Code | Title |
|---|---|
| MiFID-II-Best-Execution-Article-27-RTS-28-Order-Handling-Best-Possible-Result-Retail-Quality-Factors | MiFID II Best Execution + Article 27 + RTS 28 + Order Handling + Best Possible Result + Retail + Quality Factors |
Client Categorisation Suitability and Appropriateness - MiFID II
| Code | Title |
|---|---|
| MiFID-II-Client-Categorisation-Suitability-Appropriateness-Articles-25-30-Annex-II-Retail-Professional-ECP | MiFID II Client Categorisation + Suitability + Appropriateness + Articles 25 + 30 + Annex II + Retail + Professional + ECP |
Conflicts Inducements and Product Governance - MiFID II
| Code | Title |
|---|---|
| MiFID-II-Conflicts-Inducements-Product-Governance-Articles-23-24-16-3-Commission-Delegated-Directive-2017-593 | MiFID II Conflicts + Article 23 + Inducements + Article 24 + Product Governance + Article 16(3) + Commission Delegated Directive 2017/593 |
Enforcement Sanctions and Product Intervention - MiFID II / MiFIR
| Code | Title |
|---|---|
| MiFID-II-Enforcement-Articles-69-71-Sanctions-Article-70-EUR-5M-10pct-Turnover-Product-Intervention-MiFIR-Article-40-42 | MiFID II Enforcement + Articles 69-71 + Sanctions + Article 70 + EUR 5M + 10% turnover + Product Intervention + MiFIR Articles 40-42 |
Governance Organisation and Compliance - MiFID II
| Code | Title |
|---|---|
| MiFID-II-Governance-Management-Body-Articles-8-13-Organisation-16-Compliance-Article-22-Outsourcing | MiFID II Governance + Management Body + Articles 8-13 + Organisation + Article 16 + Compliance + Article 22 + Outsourcing |
MiFIR Transparency and Transaction Reporting
| Code | Title |
|---|---|
| MiFIR-Transparency-Pre-Post-Articles-3-11-Equity-Non-Equity-Trading-Obligation-Article-23-26-27-Transaction-Reporting | MiFIR Transparency + Pre + Post + Articles 3-11 + Equity + Non-Equity + Trading Obligation + Article 23-26-27 Transaction Reporting |
Scope and Authority - MiFID II / MiFIR
| Code | Title |
|---|---|
| MiFID-II-Scope-Directive-2014-65-MiFIR-Regulation-600-2014-Effective-3-January-2018-ESMA-NCAs-Authorisation | MiFID II + MiFIR Scope + Directive 2014/65 + Regulation 600/2014 + 3 January 2018 + ESMA + NCAs + Authorisation |
Your Compliance Coverage
If you comply with MiFID II / MiFIR, you already cover:
Voluntary Principles on Security and Human Rights (VPs)
13%
1 controls mapped
Compare →UAE Virtual Asset Regulatory Authority (VARA) Regulations
13%
1 controls mapped
Compare →Nevada Gaming Control Board Cybersecurity Requirements
13%
1 controls mapped
Compare →+ 27 more: ISO 27019 (13%), API 1164 (13%)
See all 30 mapped frameworks ↓Maps to 30 other frameworks
What is MiFID II / MiFIR and who does it apply to?
MiFID II / MiFIR is a compliance framework from European Union with 8 domains and 8 controls. The Markets in Financial Instruments Directive II (Directive 2014/65/EU) and the Markets in Financial Instruments Regulation (Regulation EU No 600/2014) constitute the EU's comprehensive framework for financial markets. Effective 3 January 2018, the framework sets rules for investment firms, trading venues, market transparency, and investor protection, and has been amended through a series of Delegated Acts and Regulatory Technical Standards (most recently in 2023) to address emerging market practices and regulatory objectives. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
What does MiFID II / MiFIR actually require?
MiFID II / MiFIR has 8 controls organised across 8 domains. The largest domains are Algorithmic Trading and Market Structure - MiFID II (1 controls), Best Execution Order Handling - MiFID II (1 controls), Client Categorisation Suitability and Appropriateness - MiFID II (1 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
If I already comply with another framework, how much of MiFID II / MiFIR do I already cover?
MiFID II / MiFIR maps to 30 other compliance frameworks. The top mapping partners are Voluntary Principles on Security and Human Rights (VPs) (13% coverage), UAE Virtual Asset Regulatory Authority (VARA) Regulations (13% coverage), Nevada Gaming Control Board Cybersecurity Requirements (13% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I implement MiFID II / MiFIR?
Start your MiFID II / MiFIR compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about MiFID II / MiFIR requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 8 controls and track your progress.
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