On 14 December 2023, the European Securities and Markets Authority (ESMA) issued a Discussion Paper on MiFID II investor protection topics linked to digitalisation.
The Discussion Paper discusses the main trends in digitalisation that are linked to the MiFID II investor protection topics. MiFID II aims at being technology neutral. This means that
On 5 December 2023, the European Supervisory Authorities updated their consolidated questions and answers on the PRIIPs key information document.
These sections of the Q&As have been updated with answers to the following questions:
On 27 November 2023, the Council of the EU issued a press release announcing that it had adopted a Regulation creating the European Single Access Point (ESAP).
The proposal for a regulation establishing the ESAP was part of the Capital Markets Union package which the European Commission presented on 25 November 2021. The
On 24 October 2023, the European Parliament Economic and Monetary Affairs (ECON) Committee held a debate on the draft report on the Retail Investment package. The draft report was published by rapporteur Stephanie Yon-Courtin (Renew, FR)on 5 October 2023 and contains her proposed amendments to the European Commission’s (Commission)
On 24 October 2023, the European Parliament Economic and Monetary Affairs (ECON) Committee held a debate on the draft report on the Retail Investment package. The draft report was published by rapporteur Stephanie Yon-Courtin (Renew, FR)on 5 October 2023 and contains her proposed amendments to the European Commission’s (Commission)
On 24 May 2023, the European Commission tabled a retail investment package comprising two proposals: a proposal amending several directives (the proposed ‘omnibus directive’) and an amending regulation proposal. The proposed omnibus directive would amend the following directives regarding retail investor protection rules:
On 3 October 2023, the European Securities and Markets Authority’s (ESMA) guidelines on the MiFID II product governance requirements came into force.
The guidelines apply in relation to the manufacturing or distribution of financial instruments and structured deposits. In particular, the guidelines apply in relation to the following requirements:
On 19 September 2023, the European Parliament Economic and Monetary Affairs (ECON) Committee held its first exchange of views on the Retail Investment Package.
The Retail Investment Package, which was published by the European Commission (Commission) on 24 May 2023, aims to empower retail investors to take more informed investment
On 7 June 2023, the European Council announced that it had reached provisional political agreement with the European Parliament on a draft Directive that updates the 2002 Directive on distance marketing of consumer financial services. Specifically, the draft Directive repeals the 2002 Directive and introduces new provisions for financial services contracts concluded at a distance
On 25 May 2023, the European Securities and Markets Authority (ESMA) published a statement highlighting the risks arising from the provision of unregulated products and/or services by investment firms. ESMA is concerned that the practice of investment firms offering products and services that are not regulated gives rise to both investor protection and