Consultation on Guidelines on Certain Aspects of the MiFID II Remuneration Requirements

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Consultation on Guidelines on Certain Aspects of the MiFID II Remuneration Requirements The Authority advises that ESMA has issued a Consultation Paper inviting industry participants to provide their feedback on the Guidelines relating to certain aspects of the MiFID II remuneration requirements. Remuneration of staff involved in the provision of investment and ancillary services and activities or selling or advising on structured deposits to clients is an essential investor protection issue. ESMA has issued draft guidelines in order to provide clarity and foster convergence in the implementation of certain aspects of the new MiFID II remuneration requirements. This Consultation builds on the Guidelines which were issued in 2013 whilst it takes into account new requirements which were introduced under MiFID II and the results of supervisory activities conducted by National Competent Authorities on the subject-matter. Next Step ESMA invites industry participants to provide their contributions online at www.esma.europa.eu input - by not later than 19 October 2021. ESMA will consider the responses it receives to this consultation paper and expects to publish a final report and final guidelines by end of Q1 2022. We appreciate that any feedback sent to ESMA will also be sent to the Conduct Supervision Investments Team on csuinvestments@mfsa.mt. 29 July 2021