ESMA briefs on suitability

ESMA has updated its supervisory briefing for regulators on the suitability requirements under MiFID 2. The briefing covers:

  • when a suitability assessment is needed;
  • information to clients on the assessment;
  • getting information from clients;
  • arrangements necessary to understand products;
  • arrangements necessary to understand the suitability of an investment;
  • suitability report;
  • staff qualifications; and
  • record keeping.