In compliance with its "policy for the validation of the guidelines prepared by the intermediaries' associations" of 2 May 2 2008, Consob has validated the guidelines contained in the "Practical guide to the tests of suitability and appropriateness" prepared by ASSOSIM (Associazione italiana intermediari mobiliari - Italian equity intermediary association) in view of the guidelines issued by ESMA in the document entitled "Guidelines on certain aspects of the MIFID suitability requirements". ASSOSIM guidelines are aimed at providing intermediaries with indications for the concrete application of the instructions of the European authority, which contain clarifications and explanations on the "suitability assessment" rule prescribed by the MIFID (Markets in Financial Instruments Directive).
The guidelines sent by ASSOSIM consist of two parts. The first part concerns the evaluation of suitability; the second part of the document governs the methods to be used to verify appropriateness. The document formalised by the association has therefore included "the main requirements of intermediaries when evaluating suitability and appropriateness in light of current legislation".
Full media release
ASSOSIM website
© Consob - Commissione Nazionale per le Società e la Borsa
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