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.