The European Securities and Markets Authority (Esma) has published its final guidelines on certain aspects of the Mifid 2 appropriateness and execution-only requirements in relation to investment products and investment services that go beyond investment advice, portfolio management and the sale of structured deposits.
These requirements are an important element of investor protection in the provision of investment services other than investment advice or portfolio management. Under Mifid 2, investment firms providing non-advised services will be required to request information on the knowledge and experience of clients or potential clients to assess whether the investment service or product envisaged is appropriate, and to issue a warning in case the investment service or product is deemed inappropriate. Th
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