ESMA Guidelines on Certain Aspects of MiFID II suitability requirements now applicable
ESMA’s new Guidelines on certain aspects of the MiFID II suitability requirements came into effect on 3 October 2023.
The purpose of the new Guidelines is to clarify certain aspects of the suitability requirements under Article 25 of Directive 2014/65/EU (MiFID II) and Articles 54 and 55 of Commission Delegated Regulation (EU) 2017/565 (MiFID II Delegated Regulation) to ensure uniform and consistent application of the requirements.
ESMA expects the Guidelines to assist firms in their interpretation and application of MiFID II suitability requirements going forward. By emphasising the key issues and standards that firms should take account of, EMSA hopes to ensure a common, uniform and consistent application of the suitability requirements under MiFID II.
For further information in relation to this topic, please contact Patrick Brandt (Partner), Kevin Allen (Partner), Christopher Martin (Of Counsel), Louise Hogan (Associate), Sarah Lee (Senior Knowledge Lawyer) or any member of ALG's Financial Regulation Advisory team.
Date published: 02 November 2023