On June 6, the European Securities and Markets Authority (ESMA) updated its question and answer document (Q&A) relating to investor protection under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR).
The updated Q&A contains new questions and answers relating to the following topics:
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information on costs and charges;
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post-sale reporting (specifically on fulfilling the obligation to report on a portfolio depreciating by the 10% threshold); and
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‘appropriateness’ in relation to complex financial instruments.
The Q&A is available here.