Art. 24(4) of MiFID II Art. 24(7) of MiFID II Art. 52 of the MiFID II Delegated Regulation Art. 53 of the MiFID II Delegated Regulation
Could a firm still hold itself out as being independent where it assesses and compares a sufficient range of financial instruments available (which are not limited to financial instruments issued or provided by the firm itself or by entities having close links) but that the outcome of such an assessment in a considerable number of cases is that the firm recommends financial instruments to its clients which are issued or provided by the firm itself or by entities having close links?
Answer 1
When a firm holding itself out as being independent frequently assesses financial instruments which are issued or provided by the firm itself or by entities having close links as best suited for its clients, ESMA considers this could potentially conflict its status as 'independent’.
Independent advisers are reminded of their obligations stemming from MiFID II (a
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