ESMA Guideline: Firms should ensure that staff giving information/investment advice to clients should (V II/III d) understand how financial markets function and how they affect the value and pricing of investment products on which they provide information/advice to clients; (V II/III i) understand specific market structures for the investment products on which they provide information to clients and, where relevant, their trading venues or the existence of any secondary markets.
Our service aims to provide an overview of developments at EU level on regulatory change - Banking Union and Capital Markets Union - that may well lead to structural change, as well as changes in market infrastructure driven by regulation, technology or Brexit. But the drivers of change must also include boosting investors' confidence that they will be treated fairly.
(We will be delighted if clients submit other e.g. academic articles for consideration)
ESMA clarifies market structure issues under MiFID II