European Securities and Markets Authority (ESMA) publishes an updated version of its supervisory briefing on the suitability requirements of the revised Markets in Financial Instruments Directive (MiFID II)
Dated November 13, 2018.
The briefing introduces European supervisors to MiFID II suitability rules, which require investment firms providing investment advice or portfolio management services to provide suitable personal recommendations to their clients or make suitable investment decisions on behalf of their clients. ESMA indicates that the briefing is a useful starting point when deciding on areas of supervisory focus. The briefing summarizes the key elements of the rules, explains the associated objectives, outcomes and indicative questions that supervisors could ask a firm when assessing their approach applying MiFID II rules.