Regulatory Alerts2022-06-27
Added · Updated
CSSF Circular 22/817: Application of ESMA Guidelines on MiFID II Appropriateness and Execution-Only Requirements
The CSSF applies the ESMA Guidelines on MiFID II appropriateness and execution-only requirements from 12 October 2022 onwards, integrating them into its administrative practice and regulatory approach. These guidelines apply to investment firms, credit institutions, and external alternative investment fund managers when providing non-advised investment services or selling structured deposits. The measures require firms to implement specific policies for client information, appropriateness assessments, and questionnaire design to ensure consistent application of MiFID II Articles 25(3) and 25(4) and related Delegated Regulation provisions.
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