Regulatory AlertsAMF Position DOC-2019-03: MiFID II Suitability Requirements
The French Autorité des Marchés Financiers (AMF) issued Position DOC-2019-03 to integrate ESMA guidelines regarding the suitability requirements of the MiFID II Directive. This document clarifies the procedures investment service providers must follow to verify client suitability when providing investment advice or portfolio management services for third parties. It replaces the previous AMF DOC-2012-13 position effective March 6, aligning national rules with updated European regulatory standards.
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III - Providers III. 1 - Investment Service Providers III. 1.3. Conduct Rules Doctrine MIF
MiFID II Suitability Requirements
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Applicable from October 3, 2023 Position DOC-2019-03
Download Viewed Version Summary AMF Position DOC-2019-03 incorporates the ESMA guidelines concerning "certain aspects relating to the suitability requirements of the MiFID II Directive" (ESMA35-43-3172). These guidelines aim to clarify the steps that investment service providers must take to verify suitability requirements in the context of providing investment advice and portfolio management services for third parties.
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Download the full overview of the doctrine Reference texts
I of Article L. 533-13 of the Monetary and Financial Code
Articles 54 and 55 of Commission Delegated Regulation (EU) 2017/565 of April 25, 2016
Guidelines on certain aspects of the MiFID II suitability requirements Guidelines on certain aspects of the MiFID II suitability requirements Archives
AMF Position DOC-2019-03 incorporates the ESMA guidelines concerning "certain aspects relating to the suitability requirements of the MiFID II Directive" (ESMA35-43-1163). These guidelines aim to clarify the steps that investment service providers must take to verify suitability requirements in the context of providing investment advice and portfolio management services for third parties. This position is intended to replace, as of March 6, AMF Position DOC-2012-13, which incorporated ESMA guidelines adopted under MiFID I.
Download the doctrine Reference texts
I of Article L. 533-13 of the Monetary and Financial Code
Commission Delegated Regulation (EU) 2017/565 of April 25, 2016
Guidelines concerning certain aspects relating to the suitability requirements of the
Guidelines on certain aspects of the MiFID II suitability requirements Legal notices: Publisher: The Director of the AMF Communication Department. Contact: Communication Department, Autorité des Marchés Financiers - 17, place de la Bourse - 75082 Paris Cedex 02