ESMA_QA_1771
Topic
Recording of telephone conversations and electronic communications
10/10/2016
Subject Matter
Recording of telephone conversations and electronic communications
Question
What types of electronic communications are within the scope of the new requirements?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries
ESMA_QA_1770
Topic
Recording of telephone conversations and electronic communications
10/10/2016
Subject Matter
Recording of telephone conversations and electronic communications
Question
Under Article 16(7) of MiFID II, competent authorities may request that a firm keeps the records for up to a period of seven years, rather than five years. In such cases, what are the expectations by competent authorities on the retention of records?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries
ESMA_QA_1789
Topic
Inducements
10/10/2016
Subject Matter
Inducements
Question
When a firm is using a research payment account under Article 13 of the MiFID II Delegate Directive, can the research budget required under Article 13(1)(b)(ii) and 13(2)(a) be set for more than one client’s portfolio when determining the specific research charge to a client and establishing the need for third party research?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1017
Topic
Best Execution
10/10/2016
Subject Matter
Best Execution
Question
What is meant by checking the fairness of the price proposed to the client when executing
orders or decisions to deal in OTC products?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1784
Topic
Underwriting and placing
10/10/2016
Subject Matter
Underwriting and placing
Question
Article 38(1)(a) of the MiFID II Delegated Regulation states that “investment firms which provide advice on corporate finance strategy, as set out in Section B (3) of Annex I, and provide the service of underwriting or placing of financial instruments, shall, before accepting a mandate to manage the offering, have arrangements in place to inform the issuer client of the various financing alternatives available with the firm”. What are "the various financing alternatives” to be considered?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries