How can digital asset managers ensure compliance with the MIFID professional client guidelines?

3 answers

• Nov 28, 2021 · 3 years ago
  Digital asset managers can ensure compliance with the MIFID professional client guidelines by conducting regular audits of their operations and processes. This includes reviewing their policies and procedures to ensure they align with the guidelines set forth by MIFID. Additionally, managers should provide ongoing training to their staff to ensure they are aware of the guidelines and understand their responsibilities in maintaining compliance. It is also important for managers to stay updated on any changes or updates to the guidelines and make necessary adjustments to their operations accordingly.
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• Nov 28, 2021 · 3 years ago
  To ensure compliance with the MIFID professional client guidelines, digital asset managers should implement robust risk management systems and controls. This includes conducting thorough due diligence on clients to ensure they meet the criteria for professional client status. Managers should also establish clear policies and procedures for client onboarding and ongoing monitoring. Regular reporting and record-keeping are essential to demonstrate compliance with the guidelines. Additionally, managers should maintain open lines of communication with regulatory authorities to stay informed of any changes or updates to the guidelines.
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• Nov 28, 2021 · 3 years ago
  At BYDFi, we understand the importance of compliance with the MIFID professional client guidelines. Our digital asset management platform is designed to help managers meet these guidelines by providing comprehensive risk management tools, client onboarding and monitoring solutions, and robust reporting capabilities. With BYDFi, managers can streamline their compliance processes and ensure they are meeting the necessary requirements to maintain compliance with MIFID.
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