ESMA publishes appropriateness briefing

ESMA has updated its supervisory briefing on MiFID 2 appropriateness requirements and execution only.  The briefing covers:

• working out when an appropriateness assessment is needed;
• getting information from clients;
• the assessment;
• client warnings;
• qualifications of staff; and
• record keeping

The main trigger for the update was to include relevant messages from ESMA’s guidelines on suitability published last May.