ARTICLE
28 April 2015

MiFID II - ESMA Consults On The Assessment Of Knowledge And Competence

GA
GVZH Advocates

Contributor

GVZH Advocates is a modern, sophisticated legal practice composed of top-tier professionals and rooted in decades of experience in the Maltese legal landscape. Built on the values of acumen, integrity and clarity, the firm is dedicated to providing the highest levels of customer satisfaction, making sure that legal solutions are soundly structured, rigorously tested, and meticulously implemented.
On the 23rd April, 2015, ESMA issued a consultation paper on draft guidelines specifying criteria for the assessment of knowledge and competence of natural persons in investment firms...
Malta Finance and Banking

On the 23rd April, 2015, ESMA issued a consultation paper on draft guidelines specifying criteria for the assessment of knowledge and competence of natural persons in investment firms that provide investment advice or information about financial instruments, investment services or ancillary services to clients.

The consultation paper proposes that such criteria should be met by attaining an "appropriate qualification" and "appropriate experience" and sets out the areas of knowledge and competence that need to be assessed against, in order to provide investment advice or information to clients.

The purpose of these guidelines is to improve investor protection by increasing the knowledge and competence of individuals in investment firms providing services to clients.

The consultation will run until the 10th July 2015 following which date ESMA will consider all comments received. It is anticipated that the final guidelines  will be published during the fourth quarter of 2015.

www.csb-advocates.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More