In particular, ESMA’s proposals aim to ensure that: the annual assessment of research quality is based on robust criteria; the remuneration methodology for joint payments for execution services and research does not prevent firms from complying with best execution requirements
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today launched a consultation on amendments to the research provisions in the Markets in Financial Instruments II (MiFID II) Delegated Directive following changes introduced by the Listing Act.
The Listing Act introduces changes that enable joint payments for execution services and research for all issuers, irrespective of the market capitalisation of the issuers covered by the research.
The Consultation Paper (CP) includes proposals to amend Article 13 of the MiFID II Delegated Directive in order to align it with the new payment option offered.
In particular, ESMA’s proposals aim to ensure that:
- the annual assessment of research quality is based on robust criteria;
- the remuneration methodology for joint payments for execution services and research does not prevent firms from complying with best execution requirements
The consultation is primarily aimed at research providers, investment firms, and investors.
ESMA
© ESMA
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