MiFID II compliance and investment services regulatory support for investment firms, asset managers, fund managers, crowdfunding providers and FinTech investment models — covering governance, conduct, product governance, conflicts, execution, MAR, AIFMD, UCITS and ECSPR interfaces.
From governance and investor protection to product governance, execution, fund-manager controls and market conduct — with the scope built around the firm's permissions, products, clients and actual operating model.
MiFID II
Investment services & investor protection
AIFMD II
Fund & asset management controls
ECSPR
Crowdfunding compliance
MAR
Market conduct & abuse controls
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Investment regulation in practice
The Compliance Framework Follows the Business Model.
An investment business can trigger different obligations depending on the service performed, the financial instrument, the client type, distribution channel and entity responsible for each step. The aim is not to apply every rulebook at once, but to identify the framework that governs the actual model and build controls around the points where regulatory responsibility sits.
Investment services
MiFID II / MiFIR
Governance, investor protection, client categorisation, suitability and appropriateness, product governance, conflicts, inducements, best execution, order handling and related organisational requirements.
Governance, delegation, liquidity and risk management, valuation, depositary and custody interfaces, loan-origination controls where relevant and supervisory reporting readiness.
Governance, project-owner due diligence, investor protection, appropriateness and knowledge testing, conflicts, complaints, KIIS controls and ongoing requirements for authorised EU crowdfunding service providers.
Inside-information governance, insider lists, market soundings, market-abuse controls, escalation and STOR processes where MAR applies to the business, instruments or market activity.
Each engagement is built around a defined compliance question or implementation need. Where the issue is first to determine whether an activity is regulated, the dedicated Regulatory Perimeter Assessment is the better starting point.
01 · Governance
MiFID II Governance & Compliance Framework
Build or review the organisational and compliance framework around the firm's actual investment services and permissions.
Governance and organisational arrangements
Compliance monitoring and regulatory ownership
Records, management information and control oversight
Outsourcing governance and implementation evidence
Where Investment Regulation Meets Digital Product Design.
Digital products often combine investment, technology, payments and crypto-asset elements. The analysis separates the functions and identifies which entity, permission and control framework is relevant to each part of the model.
Tokenisation
Tokenised Financial Instruments
Assessment of whether a token represents a financial instrument, the MiFID/MiCA boundary and the investment-service roles around issuance, distribution, custody or secondary-market activity.
Digital journeys
Digital & Automated Investment Journeys
Client classification, suitability or appropriateness logic, disclosures, warnings, human oversight and evidence around digitally delivered investment services.
Hybrid models
MiFID–MiCA Interfaces
Models involving both financial instruments and crypto-assets, including entity roles, service classification, client journey and the points where separate regulatory regimes meet.
Distribution
Partner & Embedded Investment Models
Governance where investment services are distributed through a FinTech platform, introducer, white-label or other partner structure and responsibilities need to be clearly allocated.
Cross-regulatory interfaces
Connected Requirements, Without Duplicating Separate Workstreams.
DORA, AML/CFT, data protection and sustainability-related requirements are considered only where they materially affect the investment-services or fund-management question. Full reviews under separate LEX ARTA workstreams remain separately scoped.
Investment Businesses with Different Regulatory Models.
Investment Firms & Brokers
MiFID firms providing reception and transmission, execution, advice, portfolio management or other investment services.
AIFMs & Asset Managers
Fund managers strengthening governance, delegation, liquidity, risk, reporting and oversight arrangements.
Crowdfunding Platforms
Authorised or prospective ECSPs working on governance, investor protection, due diligence and operating controls.
FinTech & Digital Investment
Tokenised products, digital investment journeys and hybrid business models where MiFID, MiCA or partner permissions may interact.
What you receive
Practical Outputs You Can Implement and Evidence.
Deliverables are agreed before the engagement starts and depend on whether the objective is review, implementation, regulatory change or remediation.
Regulatory & Control Map
Applicable obligations mapped to services, products, client journeys, entities and control owners.
Gap & Risk Register
Prioritised findings showing material control, governance, documentation and implementation gaps.
Policies & Governance Outputs
Agreed policies, procedures, matrices, registers or governance documents required within the defined scope.
Implementation & Evidence Plan
Sequenced actions, ownership, dependencies and evidence required to demonstrate that the controls operate in practice.
How the engagement works
From Regulatory Question to Implemented Control Framework.
01 · Define
Set the services, instruments, clients, jurisdictions, permissions and decision the business needs to make.
02 · Review
Review governance, client journeys, policies, contracts, registers, monitoring and available implementation evidence.
03 · Assess
Identify control gaps, regulatory dependencies and areas where the documented framework diverges from the actual model.
04 · Implement
Deliver the agreed documents, remediation priorities, ownership and evidence requirements and support implementation.
Regulatory compliance advisory — not investment advice.
The service addresses the regulatory framework governing the business. LEX ARTA does not provide investment recommendations, portfolio management, execution or financial-product distribution.
Authorisation and reserved work
New licence applications, local regulatory filings, formal representation and jurisdiction-specific reserved legal work are separately scoped and, where required, delivered or coordinated through appropriately licensed practitioners or partner firms.
Why LEX ARTA
Regulatory Analysis That Connects Rules, Conduct and Controls.
Investment-services compliance is treated as an operating framework covering governance, client conduct, product processes, conflicts, execution and evidence — not as a collection of disconnected policies.
Regulatory depth
Workstreams are mapped to the actual regulated activity, client type, product and distribution model.
Senior-led judgement
Material interpretation, scoping and control-design decisions remain under senior legal and compliance oversight.
Cross-regime awareness
Digital products and hybrid models are checked for intersections with MiCA, payments, AML/CFT, DORA and other relevant regimes.
Implementation-ready
Outputs are structured for policies, procedures, governance, controls, remediation and evidence that management can actually use.
Selected credentials and practitioner background. ACAMS Certified · CySEC AML Certified · ACFE Member · PhD in Law · practitioner experience across AML/CFT, compliance, investigations and regulatory work. Artlex Consult s.r.o. is a regulatory and compliance advisory company; reserved local-law or other licensed professional work is handled by appropriately qualified practitioners where required.
Common questions
Investment & Financial Services — FAQ.
How do we know whether MiFID II applies to our business model?
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The answer depends on the activities performed, the financial instruments involved, the client journey, distribution model and the entity performing each function. Where the perimeter is not yet clear, the dedicated Regulatory Perimeter Assessment is the better starting point before a compliance workstream is defined.
Can you review an existing investment firm's compliance framework?
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Yes. The review can be scoped around the firm's permissions and operating model and may cover governance, compliance monitoring, client categorisation, suitability and appropriateness, product governance, conflicts, inducements, best execution, order handling, disclosures, complaints, records and implementation evidence.
Can you support AIFMs and UCITS management companies?
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Yes. The scope can cover governance, delegation and oversight, liquidity and risk-management arrangements, conflicts, valuation interfaces, depositary and custody dependencies, loan-origination controls where relevant and supervisory reporting readiness.
We operate a crowdfunding platform. What can you review under ECSPR?
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The scope can cover governance, conflicts, complaints, project-owner due diligence, investor categorisation, knowledge and appropriateness testing, KIIS controls, marketing governance and evidence of ongoing compliance. Authorisation work is separately scoped where required.
Can you review our market-abuse and MAR controls?
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Yes. Where MAR applies, the work can cover inside-information governance, insider lists, market soundings, disclosure controls, market-abuse detection and escalation, STOR procedures, responsibility allocation and relevant staff training.
We are launching a tokenised or digital investment product. Can you assess the regulatory model?
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Yes. The analysis can distinguish crypto-assets from financial instruments, map MiFID II and MiCA interfaces, identify the regulated entities and services involved, and assess governance, distribution and investor-protection requirements for the proposed model.
Can you prepare us for a supervisory review or remediation programme?
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Yes. The engagement can identify control and evidence gaps, prioritise remediation, update governance and compliance documentation, assign ownership and support implementation. A broader Regulatory Gap Assessment or response to a specific regulator request can be scoped through the dedicated workstreams where appropriate.
Need to strengthen an investment-services or fund-management compliance framework?
Start with the actual services, instruments, clients and permissions — then define the applicable obligations, control gaps, required documentation and implementation priorities.
