EU Boosts MiFID II Suitability Rules After Firms Fall Short
By Lucia Osborne-Crowley (January 4, 2022, 5:05 PM GMT) -- The European securities watchdog issued clarification on Tuesday on rules that force investment companies to assess whether products are suitable before selling them to consumers, after finding that firms were falling short.
The European Securities and Markets Authority published a final report that aimed to clarify the obligations on investment firms when making sure that certain products are suitable for certain consumers.
The regulator said that a consultation on the clarified rules received broad support from the sector.
Under the rules, firms are "required to request information on the knowledge and experience of clients or potential clients to assess whether the...
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