Amongst the many changes introduced by the second Markets in Financial Instruments Directive (MiFID II) are those impacting on how firms communicate with their clients, prospective clients and the wider public.
The one key area in which MiFID II introduces new or enhanced requirements is concerning the content of financial promotions and marketing material.
With this in mind, ProFundCom has developed the MiFID II Compliance App, enabling all communications to be checked for compliance with MiFID II prior to distribution. Using AI and Machine Learning, the content of communications can now be checked and matched against the rules laid out in MiFID II (or any regulation for that matter). The App can be used across all digital platforms and can report exceptions right back to the compliance team and prevent the distribution of non-compliant communications.
“With more and more regulation being placed on those operating in financial services, one of the greatest challenges is ensuring that messaging and content is compliant at all times. Working with our clients, we have launched the best solution that not only fits the operational needs of the marketing team but also satisfies the reporting requirements of the compliance department” said Paul Das, Founder and Managing Director of ProFundCom.