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EisnerAmper Ireland | MiFID Firms | MiFID Services | Financial Services | EisnerAmper Ireland Ireland

EisnerAmper Global

MiFID Firms

We design and deliver business and compliance solutions to make your regulated business model better.

We are a specialist firm of Chartered Accountants & Registered Auditors servicing 20% of the Irish MiFID market. We have significant experience delivering Audit, Tax, Risk & Regulatory, Advisory and Outsourcing solutions to international investment firms doing business, raising capital and investing in Ireland and Europe.

MiFID II legislation presents significant challenges and opportunities to investment firms and the funds industry in Ireland.  Our specialist Financial Services team can help you:

  • Mitigate MiFID II challenges and optimise the opportunities;
  • Achieve demonstrable regulatory compliance;
  • Access and utilise industry leading compliance and regulatory expertise;
  • Temporarily scale up, with minimal interruption to your ongoing operations, by leveraging specialist resources; and
  • Focus on your core business activities.
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Our services to Investment Firms and MiFID regulated entities typically include:

Accounting and support services:

  • Monthly management accounts preparation;
  • Preparation of statutory financial statements;
  • VAT, corporation tax and payroll compliance services;
  • Provision of flexible secondment resources to meet ad hoc requirements;

Compliance and risk management:

  • Fulfilling Pre-Approval Controlled Function (“PCF”) roles (PCF 11, 12, 13, 14, 15 and 39);
  • Outsourcing of activities to fulfil compliance, finance, internal audit and risk management functions;

Board support and training:

  • Preparing compliance briefings for discussion with the board covering new / pending legislation, marketplace intelligence, regulatory sanctions and impacts thereof;
  • Providing support structures for boards to enable them to demonstrate their compliance with regulatory requirements and expectations;

Audit:

  • Statutory audit services – 1 of only 9 firms authorised to audit Public Interest Entities (PIEs) in Ireland;
  • Providing senior management and the Audit Committee with recommendations to improve the internal control, risk management and governance environment.

 

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Investment Firms and MiFID case studies
Investment Services (MiFID) & Stockbroking
Investment Services (MiFID) & Stockbroking

A large MiFID firm and member of the Irish Stock Exchange engaged EisnerAmper Ireland to perform a regulatory Gap Analysis against regulatory requirements, review the compliance function of the firm, and to fulfil the PCF-12 role of Head of Compliance following receipt of approval from the CBI.

This currently on-going engagement involves a partner-led team onsite, working on a range of compliance function responsibilities, regulatory preparedness projects (e.g. MiFID II, PRIIPS, GDPR) and policy and operational development to enhance how the firm manages its compliance risks and provides appropriate structures, policies and procedures to enable successful, demonstrable compliance with regulatory requirements.

Our engagement activities included and/or continues to include:

  • Performing a gap analysis exercise to ascertain compliance with regulatory requirements (MiFID II);
  • Reviewing the Compliance function and related arrangements;
  • Leading the MiFID II implementation project to a successful conclusion;
  • Liaison with the CBI and other regulatory bodies as necessary to fulfil the role and to support the Company and Management team;
  • Fulfilling the PCF-12 Head of Compliance role;
  • Leading the GDPR project through to implementation, revising the policy suite for data protection and related aspects, providing training to staff on practical implementation matters, and monitoring compliance with requirements as they emerge; and
  • Representing the Company at the Irish MiFID Industry Association.

As a result of engaging with EisnerAmper Ireland the large MiFID firm achieved demonstrable compliance with appropriate regulation and continues to avail of on-going support from market leading specialists.

MiFID firm compliance outsourcing
MiFID firm compliance outsourcing

A German insurance company with €4.5 bn AUM invested in UCITS and AIF was seeking to outsource the compliance function of its Irish subsidiaries.  EisnerAmper Ireland was engaged and provided the following services:

  • Outsourcing of all compliance function activities for the MiFID firm and Asset Manager;
  • PCF 39 Head of Compliance role holder;
  • Preparation of risk based annual compliance plan for board approval;
  • Carrying out monthly monitoring activities;
  • Reviewing and updating policies for new legislation and practices; and
  • Board reporting and attendance at board meetings on compliance matters.

As a result of engaging with EisnerAmper Ireland, the Irish subsidiaries now have improved compliance and risk frameworks that are expertly monitored and managed by industry leading partners.

Learn more about how we can assist youtalk to us today.
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Tom Brennan

Risk & Regulatory Partner

As a Partner in the firm’s Risk & Regulatory team, Tom provides management & regulatory reporting, financial accounts preparation and ongoing advisory services to the firm’s domestic and international clients.  Tom specialises in compliance and regulatory risk management and has expertise in creating frameworks that comply with new regulations and making business models better through best-practice governance.  Tom also has experience in setting up and managing MiFID, UCITS and AIFMD regulated entities and assisting clients navigating Central Bank of Ireland regulations.

Tom’s clients include financial service entities (including funds and investment firms), internationally based corporate and private equity clients setting up, operating and/or investing in and through Ireland.

Tom was previously CFO and Director of Mercer Ireland, a global financial services company providing pension, insurance, fund management, HR, investment and management consulting services. As CFO, Tom managed finance teams of over 50 staff and was responsible for all aspects of treasury and finance including the preparation of management and statutory accounts, regulatory returns and setting policies and procedures. In this role, Tom was responsible for annual revenues of €150m.

Contact
6 The Courtyard Building
Carmanhall Road
Sandyford
Dublin, D18 CA22
Ireland

Tel: +353 1 2934 209
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