NFU Consultation Reply to ESMA on certain aspects of the MiFID II on suitability requirements

Summary

The suitability assessment is one of the most important requirements for investor protection in the MiFID framework. It applies to the provision of any type of investment advice, whether independent or not, and to portfolio management. By pursuing the objective of ensuring a consistent and harmonised application of the requirements in the area of suitability, including on the topic of sustainability, the proposed ESMA Guidelines will ensure that the objectives of MiFID II can be efficiently achieved. 

ESMA conducted a public consultation on these Guidelines to gather the views of relevant stakeholders. Nordic Financial Unions (NFU) replied to the consultation, emphasising the view of the Nordic financial sector employees.