MiFID II directive, joint supervisory action on disclosure of costs and charges to retail investors

08/02/2022 (Agence Europe) – In cooperation with national supervisors, the European Securities and Markets Authority (ESMA) launched a monitoring action on Tuesday 8 February on the application by financial institutions of the rules on disclosure of costs and fees set out in the Markets in Financial Instruments Directive (MiFID II) (2014/65) in the European Union. This action, which will be carried out during 2022, will assess, among other things, whether financial institutions are providing retail investors with the required information in a timely manner and whether this information is clear and relevant. ESMA said in its statement that “this initiative and the exchange of practices between national authorities will help ensure consistent implementation and enforcement of EU rules and enhance investor protection”. More info at: https://aeur.eu/f/90 (AD)