argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - guidelines - MiFID II

On 5^th June, 2020, the European Securities and Markets Authority (ESMA) issued its final guidelines on the MiFID II compliance function. The publication of such guidelines is not news, since they were first published in 2012; nevertheless, ESMA deemed it necessary to review its last work in order to include updates even on the compliance function requirements. After 8 years Member States and the EU have been able to witness first-hand the implementation of such directive and are now able to move forward. Specifically, the aims of the compliance function as well as the key principles for the regulatory requirements are still the same; conversely, there has been a strengthening of the obligations under MiFID II, which were also increased and specified. ESMA deemed that the translations of the guidelines were needed and it states that they would be published in all official languages of the EU. After such publication, there will be a two-month period during which NCAs must notify ESMA whether they comply or intend to comply with the guidelines.