ESMA expects these guidelines to promote greater convergence in the application of, and supervisory approaches to, the MiFID II appropriateness and execution-only requirements.
Purpose
4. These guidelines are based on Article 16(1) of the ESMA Regulation. The purpose of
these guidelines is to clarify the application of certain aspects of the MiFID II
appropriateness and execution-only requirements in order to ensure the common,
uniform, and consistent application of, respectively, Article 25(3) of MiFID II and of
Articles 55 and 56 of the MiFID II Delegated Regulation as well as of Article 25(4) of
MiFID II and of Article 57 of the MiFID II Delegated Regulation.
5. ESMA expects these guidelines to promote greater convergence in the application of,
and supervisory approaches to, the MiFID II appropriateness and execution-only
requirements, by emphasising a number of important issues, and thereby enhancing the
value of existing standards. By helping to ensure that firms comply with regulatory
standards, ESMA anticipates a corresponding strengthening of investor protection...
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