Online.
Registration will close on 14 March at 23:59. Connection details will be sent to registered participants.
HEARING ON
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, will hold an open hearing for its Consultation Paper on the review of the Guidelines on certain aspects of the MiFID II suitability requirements. ESMA will considers the feedback provided through the open hearing into the final report and the final guidelines.
The consultation paper as well as the open hearing aim to gather views and qualitative/quantitative information stakeholders may have on the topics. The consultation period will end on 27 April 2022.
This open hearing will primarily be of interest to investors and consumer organisations; to investment firms and credit institutions providing investment advice or discretionary portfolio management services; to UCITS management companies and external Alternative Investment Fund Managers (AIFMs) when providing the investment services of investment advice or individual portfolio management; and to any relevant trade association.
During the open hearing we will discuss and gather input on the main amendments introduced in the guidelines on the topic of sustainability, which are:
- Collection of information from clients on sustainability preferences – Firms will need to collect information from clients on their preferences in relation to the different types of sustainable investment products and to what extent they want to invest in these products;
- Assessment of sustainability preferences – Once the firm has identified a range of suitable products for the client, in accordance with the criteria of knowledge and experience, financial situation and other investment objectives, it shall identify – in a second step – the product(s) that fulfil the client’s sustainability preferences; and
- Organisational requirements – Firms will need to give staff appropriate training on sustainability topics and keep appropriate records of the sustainability preferences of the client (if any) and any updates of these preferences.
Draft Guidelines on certain aspects of the MiFID II suitability requirements