ESMA Weighs Tougher MiFID Robo-Advice Client Protections

By Richard Crump

Law360, London (July 13, 2017, 5:57 PM BST) — Rules forcing investment firms to act in the best interest of their clients will be widened to consider the increasing use of automated advice in the advisory market, under draft guidelines published Thursday by the European Securities and Markets Authority.

The European Union securities regulator is revising its guidelines on investment advisers’ client obligations as part of stricter so-called suitability requirements set out in the EU’s updated derivatives rulebook due to take effect in January next year.


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