EU MiFID II Org Reg Art 21

Key organizational requirements include:

• establishing, implementing and maintaining decision-making procedures and organizational structure:
  • specifying reporting lines; and
  • allocating functions and responsibilities.
• ensuring awareness by staff of the procedures to be followed for the proper discharge of their responsibilities;
• establishing, implementing and maintaining adequate internal control mechanisms designed to secure compliance with decisions and procedures at all levels;
• employing personnel with the skills, knowledge and expertise necessary for the discharge of their responsibilities;
• establish, implement and maintain effective internal reporting and communication of information at all levels;
• maintain adequate and orderly records of the business and internal organization; and
• ensure that performing multiple functions does not prevent personnel from discharging any of these soundly, honestly and professionally.

Firms must take into account the nature, scale and complexity of their business and the nature and range of investment services and activities undertaken when complying with these requirements.