European Securities and Markets Authority (ESMA) has released an updated Questions and Answers (Q&A) document on MiFID II/MiFIR.
There are two new questions included in the document, which are related to the following topics: recording the phone conversations & electronic communications and best execution.
Other topics in the document include:
- Suitability and appropriateness
- Record keeping
- Investment advice on an independent basis
- Underwriting and placing
- Inducements (research)
- Post-sale reporting
- Information on costs and charges
- Appropriateness / Complex Financial Instruments
The European Supervisory Authorities (ESAs) - EIOPA, ESMA and EBA - published the first set of Q&A related to the Key Information Document (KID).
The Q&A contains answers to questions which cover the following areas: Market risk assessment, Methodology for assessing credit risk, the Summary Risk Indicator, Performance Scenarios, Derivatives and Methodology for the cost calculations.
Additional questions from different stakeholders are welcome to be sent to [email protected]
The European Commission released guidelines on interpreting and implementing the PRIIPs Regulation, seeking to avoid potential differences in interpreting it by stakeholders throughout the Union.
The guidelines mention, between others: Multi-option PRIIPs (which was a hot topic in the past), insurance-based investment products with both PRIIPs and non-PRIIPs as underlying investment options, translation of KIDs and "on demand" or "real time" KIDs.
EFAMA and Insurance Europe, the European insurance and reinsurance federation and members of the European working group, have now endorsed and completed the data exchange templates - EPT and CEPT.
The European PRIIPs template (EPT) contains the minimum information required from the asset managers in order for insurers to be able to produce the Key Investor Document (KID).
The Comfort European PRIIPs template (CEPT) contains a set of additional information which can be used, for example, by the MOP manufacturer for performing calculations.
PRIIPsHub is fully supporting the EPT and CEPT templates developed by the European working group.