ESMA consults on guidelines on certain aspects of the MiFID II compliance function requirements
NFU provided input to ESMA´s open consultation on guidelines on certain aspects of the MiFID II compliance function requirements. The purpose behind the guidelines is to improve clarity and convergence in the implementation of certain aspects of the new MiFID II compliance function requirements and further strenghten Investor protection. At the same time, the new guidelines will replace the existing ESMA guidelines on the same topic, which were developed in 2012.
We welcomed the opportunity to provide input to the guidelines and we highlighted several areas of importance, such as responsibility and accountability in compliance, the need for competence development of the compliance function, remuneration policies, and more.
Read the full consultation reply here