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By David SUETENS (Independent Director) and Julien Renkin (SOPIAD CCO)
From August 2022 the amended Mifid II Delegated acts, requires financial institutions providing wealth management services to capture the client’s ESG/sustainability preferences into their client’s suitability assessment and ensure that all ESG-related features of any proposed products are disclosed. However recent surveys show that approx. 60pct of clients have never received an ESG proposal from their banks/advisors, so how will our industry be ready to accommodate this requirement by August 2022 and leverage it as an opportunity?
This materially enhanced suitability assessment in MIFIDII is a key step in the roll out of the European Commission’s Green Agenda. The...
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