ESMA's consultation on draft guidelines of the MiFID II compliance function requirements

22 Jul 2019

In order to ensure common, uniform and consistent application of the EU Directive 2004/39/EC (the “MiFID II”) compliance function requirements, the European Securities and Markets Authority (“ESMA”) has launched a public consultation on draft guidelines on certain aspects of the MiFID II compliance function requirements (the “Consultation”).

Under this Consultation, ESMA invites comments about the new requirements under MiFID II such as Product Governance arrangements and the results of supervisory activities conducted by national competent authorities’ requirements on the compliance function, until the 15th October 2019.

This Consultation is addressed to investment firms and credit institutions providing investment services and activities, investment firms and credit institutions selling or advising clients in relation to structured deposits, UCITS management companies and external Alternative Investment Fund Managers (AIFMs) when providing investment services and activities in accordance with the EU Directive 2009/65/EC (the “UCITS Directive”) and the AIFMD. 

Please feel free to contact us in order to obtain more information about this Consultation.

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