Consultation on Guidelines on appropriateness and execution only

Consultation on Guidelines on appropriateness and execution only

from 29 January 2021 to 29 April 2021

Details

This paper is primarily of interest to competent authorities and investment firms that are subject to Directive 2014/65/EU of the European Parliament and of the Council (MiFID II). In particular, this paper is addressed to investment firms and credit institutions providing investment services and activities, investment firms and credit institutions when selling structured deposits and external Alternative Investment Fund Managers (AIFMs) when providing investment services. This paper is also important for consumer groups, investors and trade associations, because the guidelines seek to implement enhanced provisions to ensure investor protection, with potential impacts for anyone engaged in the dealing with or processing of financial instruments.

ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they:

  • respond to the question stated;
  • indicate the specific question to which the comment relates;
  • contain a clear rationale; and
  • describe any alternatives ESMA should consider.

ESMA will consider all comments received by 29 April 2021.

 

1 RELATED DOCUMENTS
Document available for this Consultation
DateReferenceTitleDocument
29/01/2021ESMA35-36-2159CP on Guidelines on certain aspects of the MiFID II appropriateness and execution-only requirements

Responses

Operations
Activity Institution Download
France Invest
Finance Denmark
Asset Management European Fund and Asset Management Association (EFAMA)
Asset Management Amundi
Asset Management BVI
Asset Management EUSIPA European Structured Investment Products Association
Asset Management DUFAS (Dutch Fund and Asset Management Association)
Banking Italian Banking Association
Banking Dutch Banking Association (NVB)
Banking Deutscher Derivate Verband
Banking Austrian Federal Economic Chamber, Division Bank and Insurance
Banking Związek Banków Polskich
Banking German Banking Industrie Committee
Banking European Banking Federation
Banking European Association of Co-operative Banks
Banking Slovak Banking Association
Banking Spanish Banking Asociation
Insurance and Pension BIPAR
Investment Services ANASF
Investment Services Swedish Securities Markets Association
Investment Services ASSOSIM
sped19-04-21.pdf (215.96 KB)
Investment Services Nordic Securities Association
Investment Services AMAFI
Others VUV e.V.
Others European Federation of Financial Advisers and Financial Intermediaries (FECIF)
Others BETTER FINANCE - the European Federation of Investors and Financial Services Users
Others Finance Finland
Fintech CMC Markets uk plc