More NewsMiFID Connect Issues Guidance on Suitability Checks

MiFID Connect Issues Guidance on Suitability Checks

Guidelines for financial firms on meeting the ‘suitability and appropriateness’ provisions of a forthcoming EU Directive have received recognition from the City of London’s regulator. The guidelines, covering investor protections under the forthcoming Markets in Financial Instruments Directive (MiFID), have been confirmed by the Financial Services Authority (FSA). This means that the FSA will take into account a firm’s use of the guidelines when exercising its regulatory functions. The guidelines come from MiFID Connect, a joint project between 11 City trade associations to ease the transition from the current FSA rulebook to the implementation of the new EU-wide requirements. MiFID Connect will make the guidelines available to firms, who are working to comply with the new Directive, which comes into force on 1 November this year. The guidelines set out points firms might consider in assessing whether their advice-based investment services are suitable for their customers, and whether other services they provide may be appropriate for the client under new requirements introduced by MiFID.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

4w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

6m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

6m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha