Tuesday, February 23, 2021
ACA ALERT: ESMA – INCREASED FOCUS ON “MIFID II REVERSE SOLICITATION” RULES FOLLOWING THE END OF THE UK TRANSITION PERIOD

The European Securities and Markets Association (ESMA) recently issued a public statement to firms reminding them of the MiFID II rules on “reverse solicitation.” This was targeted at firms that provide investment services to retail and/or professional clients from locations outside of the European Union.

It serves as an explicit warning to UK firms in the context of the end of the Brexit transition period, but it also has wider relevance to so-called third country (non-EU) firms.

We have witnessed many third country firms availing themselves (albeit conservatively) of the reverse solicitation carve out. It’s therefore important to remind firms of their obligations, particularly in the light of this easily missed ESMA publication.

In our latest blog, we examine:

  • ESMA’s concerns around questionable practices by firms around reverse solicitation that have emerged;
  • The importance of recital 111 of MiFID II, which looks at promotion and advertising for third country firms;
  • The forms of promotion and advertising that are under the microscope;
  • Who is subject to scrutiny and the ramification of breeching this rule;
  • What firms need to consider to address ESMA’s concerns; and
  • The impact of reverse solicitation provisions under the Alternative Investment Fund Managers Directive (AIFMD).

Read more.

ACA COMPLIANCE GROUP

Logotipo do Compliasset

Somos o software de gestão de Compliance regulatório, Integridade e Privacidade líder no mercado de capitais.


Canal de Denúncias

Denuncie Irregularidades

Canal de LGPD para os titulares de dados que a Compliasset controla

Faça um pedido

Fique por perto

Histórias de inovação na área de Compliance. Os casos que apresentamos aqui são contados por pessoas que estão no dia-a-dia do Compliance das mais variadas organizações.

Debates com referências do mundo jurídico e de Compliance. Um papo dinâmico conduzido por Nicole Dyskant com foco em inovações, desafios e insights.

Histórias de inovação na área de Compliance. Os casos que apresentamos aqui são contados por pessoas que estão no dia-a-dia do Compliance das mais variadas organizações.

Debates com referências do mundo jurídico e de Compliance. Um papo dinâmico conduzido por Nicole Dyskant com foco em inovações, desafios e insights.



Compliasset Software e Soluções Digitais Ltda. Todos os direitos reservados