cleversoft group GmbH+49(0)89 288 51110
Open a Support Ticket Support
Join our newsletter
cleversoft navcleversoft nav
contact cleversoft
Join our newsletter

ESMA published on January 27th, 2022, a consultation on guidelines on certain aspects of the MiFID II suitability requirements. Do you want to learn more about the highlights of the draft guidelines?


Let’s talk how we can help your business.


Connect to a new world of efficiency by utilising cleversoft’s business solutions.

Get in touch

Let’s talk how we can help your business.


Connect to a new world of efficiency by utilising cleversoft’s business solutions.

Get in touch

As discussed in our blog post from last summer, the ESMA was expected to update the Guidelines on Suitability in order to extend these guidelines for the sustainability preferences and to fill the gaps in the areas where shortcomings and points for improvement were found in their MiFID II Suitability Requirements survey.

The assessment of suitability is one of the most important requirements for investor protection in the MiFID II framework. The ESMA guidelines apply in relation to Article 25(2) of MiFID II and Articles 54 and 55 of MiFID II Delegated Regulation and apply to the provision of the following investment services by investment firms:

This Consultation Paper builds on the text of the 2018 ESMA guidelines , which are now being reviewed, following the adoption by the European Commission of the changes to the MiFID II Delegated Regulation to integrate sustainability factors, risk and preferences into certain organisational requirements and operating conditions for investment firms. The amendments have been published in the Official Journal of the European Union on 2 August 2021 and will apply from 2 August 2022.

These guidelines address in general situations where services are provided to retail clients, and when services are provided to professional clients. ESMA expects these guidelines to promote greater convergence in the interpretation of, and supervisory approaches to, the MiFID II suitability requirements.

To help clients understand the concept of “sustainability preferences” and the choices to be made in this context, firms should explain:

ESMA suggests that firms should collect the following information from clients:

ESMA will consider the responses received to this consultation paper in Q2 2022 and expects to publish a final report, and final guidelines, in Q3 2022. Hence, it is possible that the final version of the guidelines may not be available for the due date of the “ESG Preferences” requirements in August 2022.

‍cleversoft’s Suitability Service cleverMatch:

With the Suitability Service cleverMatch, we offer a flexible cloud service where you can process both individual and multiple product checks for suitability and equivalence. The checks cover:

We are already extending our cleverMatch service to cover sustainability preferences according to these updated requirements.

Our Regulatory Watch working group on MiFID II continues to closely monitor regulatory developments. Once the final report is published, we will do the necessary adjustments, if any.

You may also like