Make compliance the business enabler for financial services
Umbra Ai automates regulatory mapping, cutting compliance approval time by up to 90% as businesses scale.
Join teams already using Umbra Ai
Umbra Ai automates regulatory mapping, cutting compliance approval time by up to 90% as businesses scale.
Filter relevant regulations to find the business requirements that apply to your legal profile.
Run gap analyses using your internal documentation and address blind spots with actionable suggestions.
Launch regulated financial products without getting stuck waiting for compliance approvals.
| Documentation | ||||
|---|---|---|---|---|
| MiFID II |
Article 1Art. 1
|
Applicable
|
[13] Structural Risk AssessmentRisk Assessment
|
No gap
|
| MiFID II |
Article 2Art. 2
|
Applicable
|
[19]
Outsourcing
|
Gap
|
| MiFID II |
Article 3Art. 3
|
Not Applicable
|
|
|
| MiFID II |
Article 4Art. 4
|
Not Applicable
|
|
|
| MiFID II |
Article 5Art. 5
|
Applicable
|
[37] Financial ReportingFin. Reporting
|
Gap
|
| MiFID II |
Article 6Art. 6
|
Applicable
|
[49] IT
Infrastructure
|
No gap
|
| MiFID II |
Article 7Art. 7
|
Applicable
|
[3] Access ManagementAccess Mgmt
|
No gap
|
| MiFID II |
Article 8Art. 8
|
Not Applicable
|
|
|
Access to systems is granted according to the principle of least privilege, in line with DORA Article 9 requirements for ICT risk management. Access requests must be approved by the user’s manager and the system owner. Periodic access reviews are conducted quarterly as part of the controls mandated under DORA Article 9(2)(d).
Before launching any new financial product, the product governance team must identify document the target market and intended distribution strategy, and assess the product’s risks. All product information must be reviewed and approved by compliance. All product approvals must include a sign-off from compliance and a periodic review schedule to ensure ongoing suitability, in line with MiFID II Article 16.
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