E.U. – ESMA MiFID II Final Suitability

E.U. – ESMA MiFID II Final Suitability

 

On 4 April 2019, EU ESMA issued updated version of suitability briefing from 2012.

  • Considers May 28, 2018 version on suitability where relevant to appropriateness.
  • New supervisory briefing includes: determining situations where appropriateness
    assessment required; obtaining information from clients; and warnings to clients.
  • Assessment of appropriateness; qualifications of firm’s staff; and record-keeping.
  • The supervisory briefing is aimed at competent authorities as defined in MiFID II.
  • Aims to indicate compliant implementation of MiFID II appropriateness provisions.
  • And to promote common supervisory approaches and practices in their application.