The new guidelines replace the Esma rules on the same topic issued in 2012. They also include updates that enhance clarity and foster greater convergence in the implementation, and supervision, of the new Mifid 2 compliance function requirements.
The European Securities and Markets Authority (Esma) has published today (5 June) the final guidelines on the Mifid 2 compliance function. The new requirements are aimed at enhancing ‘the value of existing standards by providing additional clarifications on certain specific topics, such as new responsibilities in relation to Mifid 2’s product governance requirements, by notably detailing further the reporting obligations of the compliance function,’ stated the reg
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