Financial Regulation (CPD)

Define the core regulatory principle of “all sufficient steps,” which requires firms to take all necessary measures to consistently achieve the best possible result for clients when executing orders. This standard is more demanding than the previous “all reasonable steps” obligation under MiFID I.

Analyze the key execution factors (Price, Costs, Speed, Likelihood, Size) and evaluate their relative importance for different client types and financial instruments.

Apply the concept of “Total Consideration” to practical scenarios involving retail clients.