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03 October 2017

ESMA(欧州証券市場機構)、MiFID II(第2次金融商品市場指令)・MiFIR(金融商品市場規則)における投資家保護に関するQ&Aを改訂


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The new Q&As cover the topics of client categorisation, post-sale reporting, recording of telephone conversations and electronic communications, best execution, and information on costs and charges.


ESMA has added 12 new Q&As to its Questions and Answers document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

The overall MiFID II Q&A provide clarifications on the following topics:

  • Best execution;
  • Suitability and appropriateness;
  • Recording of telephone conversations and electronic communications;
  • Post-sale reporting;
  • Record keeping;
  • Investment advice on an independent basis;
  • Inducements (research);
  • Information on charges and costs;
  • Underwriting and placement of a financial instrument; and
  • Client categorisation.

Full Q&A



© ESMA


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