Regulatory Alerts2022-02-15
Added · Updated
Guidelines on certain aspects of the MiFID II suitability requirements
These guidelines clarify the application of MiFID II suitability requirements for investment advice and portfolio management services provided to retail and professional clients. They require firms to inform clients about the assessment's purpose, establish policies to collect necessary client information proportionate to product complexity, and ensure accurate understanding of investment risks. Specific provisions address robo-advice, mandating clear explanations of human involvement and automated decision-making processes. The guidelines apply from 60 calendar days after the reporting requirement date, replacing previous ESMA guidelines issued under MiFID I.
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