Mifid briefings aim to ensure enforcement

Latest briefing from Cesr for supervisors focuses on how to assess whether a firm is compliant with Mifid

PARIS - As part of the Committee of European Securities Regulators' (Cesr) work to promote supervisory convergence, it has produced a number of briefings for supervisors on the key elements of the Markets in Financial Instruments Directive (Mifid). The briefings summarise the main elements of the rules while explaining the associated objectives and outcomes.

Cesr's latest briefing focuses on information and reporting to clients, and is designed to help supervisors assess whether a firm is complying with the Mifid information requirements and whether the information being provided is enough for the client to make an informed decision regarding the service being offered.

The briefing considers the arrangements and procedures firms have in place to ensure they comply with their obligations, the types of information to be provided to the client and the medium through which the information is provided. The briefing provides an overview of the desired outcomes, illustrates the issues supervisors should consider and includes examples of the sort of questions supervisors could ask to test whether the outcomes are being met by firms.

Click here for the briefing

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