Events listed in Markets in Financial Instruments Directive II (MiFID II)
New system related to the admission of fixed-income securities to trading in ...
ID 23717
The CNMV informs about the entry into force of Article 63 of the “Law 6/2023 of 17 March on Securities Markets and Investment Services“ on 18 September, that aims to enhance the competitiveness and appeal of Spanish securities markets. This article brings about significant changes in the supervision of admission requirements for non-equity securities. Under the new regulations, the **CNMV’s powers to oversee compliance ...
Avviso Consob del 5 giugno 2023 in merito agli Orientamenti emanati dall’ESMA ...
ID 23587
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 ...
La CNMV adopta las Directrices relativas a determinados aspectos de los requisitos ...
ID 23566
The CNMV informed ESMA that it complies with the Guidelines on certain aspects of suitability requirements under MiFID II. The CNMV had already communicated this compliance in July 2022. The CNMV will consider these Guidelines in its supervisory responsibilities, particularly in the review of compliance with sustainability preference regulations outlined in the 2023 activity plan (eventid=19916). The purpose of these Guidelines is to **ensure ...
La CNMV adopta las Directrices relativas a determinados aspectos de los requisitos ...
ID 23564
The CNMV informed ESMA that it adheres to the Guidelines on certain aspects of the remuneration requirements of MiFID II and considers them in its supervisory actions. These guidelines aim to align employee incentives with client interests, manage conflicts of interest, and reduce excessive risk-taking. The updated guidelines emphasize the design of remuneration policies and practices. They suggest that **qualitative criteria should not be ...
Evaluation de l’adéquation de la directive MIF 2 : l’AMF applique les ...
ID 23553
The AMF has released an update to its Position DOC-2019-03, incorporating the revised guidelines issued by ESMA regarding certain aspects of the MiFID II suitability requirements (ESMA35-43-3172_E). To recall, ESMA initiated a project at the end of 2021 to revise its guidelines on suitability assessment for investment advice and portfolio management services. The revisions were driven by the publication of Delegated Regulation (EU) 2021/1253, ...
Compliance table – Guidelines on cross-selling practices (ESMA/2016/574)
ID 23552
Following the publication of the Guidelines on cross-selling practices which became applicable from 3 January 2018, ESMA has published an updated version of the corresponding compliance table. The table sets out which member states comply or intend to comply with the guidelines and – in latter case – by which date such compliance is expected. The table also provides links to the corresponding (confirmation) ...
ESMA highlights risks arising from investment firms providing unregulated products ...
ID 23407
ESMA has issued a public statement highlighting the risks associated with investment firms offering both regulated and unregulated products and services. The statement emphasizes the potential harm to retail investors who often rely solely on the reputation of an investment firm, leading them to overlook the risks of unregulated products and services. ESMA reminds firms of the behaviors they should adopt in such situations ...
Circulaire CSSF 23/835
ID 23386
The present circular aims to notify recipients that the CSSF, as the competent authority, will implement the ESMA Guidelines (ESMA35-43-3172) on specific aspects of the MiFID II suitability requirements from 3 October 2023 onwards. These Guidelines, issued with the intention of fostering supervisory convergence across Europe, will be incorporated into the CSSF’s administrative practices and regulatory approach. The Guidelines, issued by ESMA **in accordance ...
ESMA publishes Opinion on Market Outages
ID 23382
ESMA has published a final report and Opinion on market outages, emphasizing the importance of trading venues having an appropriate outage plan for communication with their members, participants, and the public. ESMA’s publication of this Opinion follows a review report on algorithmic trading published in September 2021 (eventid=12724), where the authority committed to provide guidance on how trading venues should communicate during outages. A ...
Exigences de rémunération de la directive MIF 2 : l’AMF applique les ...
ID 23336
The AMF implements in its [Position DOC-2023-03](https://www.amf-france.org/sites/institutionnel/files/private/2023-05/DOC-2023-03_VF1%20%2B%20BJ.pdf) the ESMA Guidelines regarding certain aspects of the remuneration requirements of the MiFID II directive (ESMA-35-43-35652). As a reminder, the development of a regulatory framework dedicated to remuneration practices in MiFID II was a response to various events that occurred after the implementation of MiFID I, particularly th ...