Avviso Consob del 5 giugno 2023 in merito agli Orientamenti emanati dall’ESMA relativi a taluni aspetti dei requisiti della MiFID II in materia di remunerazione

The Consob has informed ESMA to comply with and implement the Guidelines of the European Authority on certain aspects of the MiFID II remuneration requirements, that were published in their official translation on the ESMA website on 3 April 2023.
The ESMA Guidelines on certain aspects of the MiFID II remuneration requirements provide operational guidance on the remuneration policies and practices of intermediaries within the framework of the conduct rules and obligations related to the conflict of interest regime set out by MiFID II.
In particular, the guidelines apply to the remuneration requirements under Article 27 of MiFID II Delegated Regulation, as well as, on the one hand, the conflict of interest requirements under Article 16 (3) and Article 23 of MiFID II and Article 34 of the MiFID II Delegated Regulation on remuneration, and on the other hand, the conduct rules under Article 24 (1) and (10) of MiFID II.
Furthermore, these guidelines clarify the application of governance requirements in the field of remuneration under Article 9 (3) of MiFID II.
With these ESMA Guidelines, the attention of intermediaries is drawn to the need to align their practices with criteria aimed at pursuing the best interests of clients.
The Consob reminds the intermediaries under its supervision to comply with these ESMA Guidelines, which will be effective from 3 October 2023, replacing the previous guidelines issued under the MiFID I regulatory framework.