ESMA is consulting on draft guidelines that aim to clarify certain aspects of the new MiFID II remuneration requirements, replacing the existing ESMA guidelines on the same topic, issued in 2013. The consultation paper:
- takes into account new requirements under MiFID II;
- provides additional details on some aspects that were already covered under ESMA’s 2013 guidelines; and
- incorporates the results of supervisory activities conducted by national competent authorities on the topic.
ESMA will consider the responses it receives to this consultation paper by 19 October 2021 and expects to publish a final report, and final guidelines, by end of Q1 2022.