October 03, 2017

ESMA added 12 new items to its questions and answers (Q&A) document on the implementation of investor protection topics under the second Market in Financial Instruments Directive and Regulation (MiFID II/MiFIR). The new Q&A cover the topics of client categorization, post-sale reporting, recording of telephone conversations and electronic communications, best execution, and information on costs and charges.

The overall MiFID II Q&A provide clarifications on topics such as best execution, suitability and appropriateness, recording of telephone conversations and electronic communications, post-sale reporting, record keeping, investment advice on an independent basis, inducements (research), information on charges and costs, underwriting and placement of a financial instrument, and client categorization. MiFID II applies from January 03, 2018 and will strengthen the protection of investors by both introducing new requirements and reinforcing the existing ones. This set of Q&A is intended to promote common supervisory approaches and practices in the application of MiFID II/MiFIR for investor protection topics. ESMA will continue to develop the Q&A on investor protection topics under MiFID II in the coming months by adding questions and answers to the topics already covered and by introducing new sections for other MiFID II investor protection areas not yet addressed in the Q&A.

 

Related Link: Q&A on Investor Protection (PDF)

Keywords: Europe, EU, Securities, MiFID II, MiFIR, Q&A, Investor Protection, Post-sale Reporting, ESMA

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