Market participants, lawyers and compliance professionals need to compare different versions of regulations, such as MiFIR and MiFID II, in order to identify key differences between the texts over the course of time.
Various amendments have been made to MiFIR and MiFID II since their inception and a full review of the legislation is also in progress.
Keeping on top of the changes to MiFIR / MiFID II can be a complicated process while annotating the regulation digitally with in-house or external legal and regulatory viewpoints and opinion is difficult.
Historically, an easy way to compare and annotate updated or amended versions of regulatory text such as MiFIR / MiFID II has not been readily available.
Single Rulebook provides a ‘version compare’ functionality to compare different versions of MiFIR / MiFID II over time:
- The version compare tool allows users to compare different versions of MiFID II across Level 1 and 2 texts at different points in time.
- The compare tool is easy to use and available in one click from the Single Rulebook user interface screen.
- Users can compare regulatory text in tracked changes format, or as two pieces of text side by side.
- Changes to the regulation are easy to visualise with deleted regulatory text shown as struck through in red and new regulatory text shown in green.
The ‘version compare’ functionality provides the following benefits:
- Helps users quickly and efficiently receive, analyse and compare updates and amends to MiFIR / MiFID II texts.
- Allows users to work more efficiently with the changes visible in a clear format.
- Provides a digital platform for sharing legal and regulatory interpretations and opinion on different versions of the regulation so that views can be shared across an organisation.