As part of the ongoing review of MiFID (see general coverage of the reference data impacts here), the Committee of European Securities Regulators (CESR) has published a new consultation paper on the subject of client categorisation that indicates a more structured approach to maintaining and monitoring entity data will be required within European financial institutions. The proposed requirements, which are aimed at strengthening investor protection, introduce new criteria for consideration when categorising clients under MiFID for reporting purposes, which will mean data managers will need to add new steps into the workflow for customer data.

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