The European Securities and Markets Authority has updated its MiFID II / MiFIR Q&As on investor protection topics.
The following investor protection topics have been updated:
- record keeping;
- post-sale reporting; and
Answers to the following questions have been added to the inducements section:
- Does Article 24(9) of MiFID II also apply to payments made by investment firms to a third party in relation to the provision of the investment service of investment advice provided on an independent basis or of portfolio management?
- In connection with an investment firm providing investment advice on an independent basis or portfolio management services, what is, with a perspective on Chapter II of the implementing directive, the legal status of a fee, commission or monetary benefit, after it has been received by an investment firm from a third party or a person acting on behalf of a third party as an inducement, and prior to it being transferred in full by the investment firm to the client?
View ESMA updates its Q&As on MiFID II / MiFIR investor protection topics, 10 November 2017