The European Securities and Markets Authority (ESMA) on Wednesday 13 January issued a reminder to UK firms attempting to circumvent the requirements of the MiFID II Directive on the provision of investment services to clients by firms located outside the EU.
“With the end of the UK transition period on 31 December 2020, some questionable practices by firms around reverse solicitation,where the product or service is marketed at the client’s own exclusive initiative, have emerged”,...