MiFID II - protection of investors
The revision of MiFID leads to important changes in rules and regulations with regard to the protection of investors. The protection of investors has been increased as a result of stricter and new conduct of business rules under MiFID II.
For example, investment firms must provide more information about the costs of an investment service and about the independence of their investment advice. New conduct of business rules are also being introduced for the provision of investment services. For instance, the staff that is in contact with clients must satisfy professional competence requirements. Investment protection is also enhanced by imposing organisational requirements. The rules for product development for instance will also be applicable for investment firms.