FSMA Publishes Educational Brochure on MiFID II Investor Protection
The Financial Services and Markets Authority (FSMA) has published a brochure intended to help investors and consumers better understand their rights.
The brochure also outlines what obligations bind the firms who provide them with investment services as laid out by the second Markets in Financial Instruments Directive (MiFID II).
One of the FSMA’s primary responsibilities is to ensure and supervise compliance with the regulations outlined by regulatory bodies such as ESMA. This involves carrying out inspections to ensure that regulated firms and companies are complying with investor protection guidelines. In instances where shortcomings are acknowledged, FSMA reserves the right to issue orders, adopt specific measures, formulate recommendations or raise points for consideration.
FSMA has also made clear that they intend to ensure that consumers and investors are well aware of their rights, an aim very much in line with the emphasis on market transparency that lies at the centre of MiFID II.
The FSMA has stated that investors should be able to rely on correct financial services and. As such, they have included information on different protection mechanisms outlined by MiFID I and MiFID II in their brochure.
A full copy of the brochure can be found here.
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