European Securities and Markets Authority Launches Common Supervisory Action on MiFID II Appropriateness Rules
06/03/2019The European Securities and Markets Authority has announced that it will launch a common supervisory action in the second half of 2019 on the application of the appropriateness requirements under the revised Markets in Financial Instruments Directive. The action will be undertaken as part of ESMA's mandate to build a culture of common supervision among EU national regulators.
The supervisory action will involve an assessment by participating national regulators of the application of "appropriateness" requirements by a sample of investment firms under their supervision. The appropriateness requirements under MiFID II require investment firms providing investment advice to assess a potential client's knowledge and experience in the investment field to ascertain whether a particular service or product is appropriate for the client. The appropriateness requirements also formed the subject of a recent supervisory briefing by ESMA.
View ESMA's press release on the common supervisory action.
View ESMA's supervisory briefing on MiFID II appropriateness requirements.
View details of ESMA's supervisory briefing on MiFID II appropriateness requirements.
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