On 10.11.2017 the European Securities and Markets Authority (ESMA) published an updated set of Q&As (Questions & Answers) on issues about the protection of investors in relation to MiFID II/MiFIR.
- Best execution
- Suitability and adequacy
- Recording telephone conversations and electronic communications (updated – 1 new Q&A)
- Record keeping
- Investment advice on an independent basis
- Underwriting and placement (of issuances)
- Inducements in connection with research
- Post-sale reporting (updated – 1 new Q&A)
- Information on costs and charges
- Appropriateness / Complex Financial Instruments
- Client categorisation
- Inducements (2 new Q&As)
These ESMA Q&As can be downloaded from the following page under the downloads section, and are intending to ensure a common supervisory approach with regard to the application of MiFID II and MiFIR in conjunction with investor protection issues, and are intended both for the competent supervisory authorities as well as the supervised entities. Questions are answered to questions asked by the general public, market participants and the competent supervisory authorities in relation to the practical application of MiFID II/MiFIR.
The ESMA Q&As are only available in English. The contents are not comprehensive and cannot be considered as new rules. The Q&As are constantly extended by ESMA and where necessary also updated. The date of publication is given for each chapter and question to make them easier to follow and for reference purposes.