Responding to this paper
ESMA invites stakeholders to provide information on all matters in this paper and in particular on the specific questions summarised in Annex 1. Responses 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 10 July 2015.
All contributions should be submitted online at www.esma.europa.eu under the heading ‘Your input - Consultations’.
Publication of responses
All contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman.
Data protection
Information on data protection can be found at www.esma.europa.eu under the heading Legal Notice.
Who should read this paper
This paper is primarily of interest to competent authorities and firms that are subject to MiFID, in particular, investment firms and credit institutions performing investment services and activities and their staff. This paper is also important for trade associations, investors, and consumer groups, 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