In response to the European Commission’s July 2018 request for technical advice from the European Securities and Markets Authority (ESMA) and European Insurance and Occupational Pensions Authority (EIOPA) on its legislative proposals on sustainable finance, ESMA has published a consultation paper on integrating sustainability risks and factors in MiFID II. ESMA states that it liaised closely with EIOPA in the preparation of the consultation paper to ensure consistency across sectors. The consultation paper covers the topics of organisational requirements, risk management and product management. It also includes suggested amendments to the ESMA guidelines on MiFID II product governance requirements and the ESMA guidelines on certain aspects of the MiFID II suitability requirements. The deadline for providing comments is 19 February 2019, and ESMA intends to publish a final report on 30 April 2019.
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Integrating sustainability risks and factors into MiFID II: ESMA consultation paper
European Union January 31 2019
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