Eurosif responds to ESMA on the review of MiFID II suitability guidelines
On January 2022, ESMA opened a public consultation on certain aspects of suitability requirements under the Markets in Financial Instruments Directive (MiFID II), in order to update its guidelines following amendments to MiFID II relating to sustainability. ESMA will consider the feedback it receives to the consultation in Q2 2022 and expects to publish a final report in Q3 2022.
Eurosif appreciates the opportunity to respond to ESMA’s consultation on the draft Guidelines on certain aspects of the MiFID II suitability requirements. As outlined in the Consultation Paper, the assessment of suitability is one of the most important elements for investor protection in the MiFID II framework. Eurosif fully supports the need to integrate consideration of client sustainability preferences into the existing suitability assessments, especially in light of the increased demand for, and marketing of sustainable investment products. Eurosif strongly encourages any efforts to increase the supply of sustainable investment products, and to drive up the level of ambition when it comes to the integration of sustainability preferences in financial products