EUROPEAN UNION: ESMA issues Q&A on MiFID II Investor Protection Topics

Tuesday October 11 2016

The European Securities and Markets Authority (ESMA) has published a Questions and Answers (Q&A) document regarding the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

The purpose of the Q&A is to promote common supervisory approaches and practices in the application of MiFID II/ MiFIR for investor protection topics, providing responses to questions posed by the general public, market participants and competent authorities in relation to the practical application of MiFID II/MiFIR requirements.

This Q&A provides clarifications on the following topics:

• Best execution
• Recording telephone conversations and electronic communications
• Record keeping
• Investment advice on an independent basis
• Underwriting and placement of a financial instrument
• Inducements (research)

ESMA will continue to develop its Q&A on investor protection topics under MiFID II in the coming months, both adding questions and answers to the topics mentioned above and introducing new sections for other MiFID II investor protection areas not yet addressed in this Q&A.

Click on the link above for further details.