MiFID’s partial modifications management in a few click
The management of financial regulations updates is a really complex activity. Those who work in the banking compliance sector are perfectly aware of the amount of the changes that regulators constantly make on laws.
A quite recent example can be represented by the so-called “Quick fix” directive, issued as partial modification of the MiFID II in February 2021. But let’s step back for a moment.
MiFID is an acronym that identifies the “Markets in financial instruments directive”, that is the 2004/39/EC directive, which regulates the European financial markets. This regulation has been updated in 2018, with the enforcement of the so-called “MiFID II” (2014/65/EU), issued by the European Union to reinforce its financial system.
Following the economic disruption caused by the COVID-19 pandemic, the European Commission has furthermore approved the 2021/338 directive – the Quick fix – aiming to reduce the bureaucracy and to adjust the MiFID content in respect to the situation created by the pandemic, concerning information obligations, product governance and position limits, along with the 2013/36/EU (CRD IV) and (EU) 2019/878 (CRD V) directives.
This partial regulatory update obliged financial institutions to compare the different versions of the MiFID to evaluate its impact on their business. But how to do that accurately and in reasonable times? Well Aptus.AI’s AI assistant answers this need, exploiting b to offer automated and real-time banking regulations versioning and comparing.
Real-time versioning and comparing with Aptus.AI’s machine readable regulations
How can financial regulatory changes be tracked in respect to the previous version of a law? And how to identify the ones that impact the business?
Our solution can do that by exploiting its AI engines that create an electronic and machine readable version of banking regulations. Leveraging that, regulatory updates collection and comparison analysis operations are automated, allowing compliance professionals to focus only on the decision-making management concerning regulatory changes.
The AI assistant enables users to interactively consult regulatory updates, even partial – just like the MiFID II Quick fix -, in order to compare different versions of the same regulation.
The regulations comparison also includes an interactive analysis of the specific parts that have changed with the regulatory update, visualizing both the new text and a link to see the previous version of the law. That’s not all.
The solution also includes custom email notifications, which allow users to be constantly updated about their regulations of interest. The email message already recaps the most relevant general information about the regulatory modification and offers an overview of the impacted areas, but mostly the links to immediately visualize and navigate the regulation on the platform as described above.
Aptus.AI’s AI assistant’s features
Aptus.AI’s AI assistant is designed to revolutionize the work of compliance, legal, and consulting professionals, offering fast, precise, and customizable support in regulatory analysis.
Exploiting advanced Artificial Intelligence technologies, Aptus.AI’s AI assistant can transform the management of compliance and legal activities into a true competitive advantage, saving time and improving decision quality.
Here are the main features of the Aptus.AI’s AI assistant:
- Regulatory monitoring and real-time alerts: Automatic notifications on regulatory updates of interest, including Italian, European, and international authorities.
- Impact analysis and regulatory comparison: Automatic identification of the effects of updates on organizations and clear visualization of the differences between versions of legal texts.
- Custom projects and ad hoc responses: Ability to train the AI assistant on your own cases and receive targeted, reliable analyses based on the documents provided and specific needs.
- Automated generation of legal documents: Automated drafting of policy drafts, deeds, legal opinions, and recurring documents thanks to generative AI powered by always up-to-date databases.
- Risk analysis: Automatic identification by AI of risks arising from regulatory changes, allowing you to dedicate more time to strategic activities.
- Shared workspaces: Areas where you can easily collaborate with your team, sharing information and regulatory analyses in dedicated and secure environments.
With Aptus.AI’s IA assistant, compliance and legal consulting enter the era of digital innovation.
