FIN.

ESMA takes action on suitability

ESMA is launching a common supervisory action with national authorities on the application of the MiFID 2 suitability rules. It feels it needs to gauge how intermediaries have been applying the requirement and help in the analysis of whether and how the costs of products are considered when firms make a recommendation.

ESMA hopes the actin will help ensure consistent implementation of the requirement as well as investor protection.

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Emma Radmore