{"id":109708,"date":"2023-04-04T14:52:59","date_gmt":"2023-04-04T12:52:59","guid":{"rendered":"https:\/\/www.afg.asso.fr\/publication-lignes-directrices-esma-mif-ii\/"},"modified":"2023-04-04T14:52:59","modified_gmt":"2023-04-04T12:52:59","slug":"publication-lignes-directrices-esma-mif-ii","status":"publish","type":"post","link":"https:\/\/www.afg.asso.fr\/fr\/publication-lignes-directrices-esma-mif-ii\/","title":{"rendered":"Publication lignes directrices ESMA MIF II"},"content":{"rendered":"\n<p>L\u2019ESMA a publi\u00e9 diff\u00e9rents documents.<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li><strong><u>L\u2019ESMA met \u00e0 jour ses lignes directrices sur la gouvernance produit (MIF II)<\/u><\/strong><\/li><\/ol>\n\n\n\n<p>Le 28 mars, l\u2019ESMA a publi\u00e9 <strong><a href=\"https:\/\/fra01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fxrm.eudonet.com%2Fxrm%2Fat%3Ftok%3DFB4B338A%26cs%3D-iOWXSM13zaQD6kWQeWjoaTSKSmfKnFIMGJhniiwnVJ96N5P8Av582Kl3WaaFJ3r%26p%3DC3v9rSg4uR-xe6tE-m6JnUsEiR-OuV0N_toEyObgpCp4OH33-n4ZBvs6ayIRJdwBbm3E3w-LBdE%253d&amp;data=05%7C01%7Cv.mey%40www.afg.asso.fr%7Cedf901419eb54adf9f4508db35060418%7C18570703cd134c8fa98760408f80fa42%7C1%7C0%7C638162072177519883%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=%2B2CDvwBDy4WYRnmJQx%2BUy3YwxwT%2F2JFqurDfdxBx%2FmI%3D&amp;reserved=0\">son rapport final sur les lignes directrices relatives \u00e0 la gouvernance produit dans le cadre de MIF II<\/a>.<\/strong> Cette mise \u00e0 jour fait suite \u00e0 une consultation lanc\u00e9e par l\u2019ESMA en juillet 2022.<\/p>\n\n\n\n<p>La mise \u00e0 jour porte notamment sur des aspects li\u00e9s \u00e0 la \u00ab durabilit\u00e9 \u00bb :<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Int\u00e9gration des pr\u00e9f\u00e9rences de durabilit\u00e9 MIF dans le rapport ;<\/li><li>Une nouvelle guideline (GL 20) sur la n\u00e9cessit\u00e9 de pr\u00e9ciser les objectifs de durabilit\u00e9s avec lesquels le produit est compatible ;<\/li><li>Une nouvelle guideline (GL 81) sur la non-obligation d\u2019un march\u00e9 cible (\u00ab target market \u00bb) n\u00e9gatif en mati\u00e8re de durabilit\u00e9.<\/li><\/ul>\n\n\n\n<p>Les autres principales modifications (non li\u00e9es \u00e0 la durabilit\u00e9) concernent :<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Les pratiques permettant d\u2019identifier un march\u00e9 cible pour les \u00ab regroupement de produit \u00bb (\u00ab clustering approach \u00bb) ;<\/li><li>La d\u00e9termination d\u2019une strat\u00e9gie de distribution compatible lorsqu\u2019un distributeur consid\u00e8re qu\u2019un produit complexe peut \u00eatre distribu\u00e9 dans le cadre d\u2019une vente sans conseil (\u00ab non-advised sales \u00bb) ;<\/li><li>La revue p\u00e9riodique des produits (incluant l\u2019application du principe de proportionnalit\u00e9).<\/li><\/ul>\n\n\n\n<p>Ce rapport va maintenant \u00eatre traduit dans l\u2019ensemble des langues officielles de l\u2019Union Europ\u00e9enne. Une fois les traductions publi\u00e9es, les autorit\u00e9s nationales auront un d\u00e9lai de 2 mois pour notifier \u00e0 l\u2019ESMA si elles comptent se conformer \u00e0 ces lignes directrices. Les lignes directrices entrent en application deux mois apr\u00e8s la publication des traductions sur le site de l\u2019ESMA.<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\" start=\"2\"><li><u><strong>Publication des traductions dans les langues de l\u2019UE des orientations de l\u2019ESMA sur les pr\u00e9f\u00e9rences de durabilit\u00e9 dans les exigences d\u2019ad\u00e9quation MIF<\/strong><\/u><\/li><\/ol>\n\n\n\n<p>Le 3 avril, l\u2019ESMA a publi\u00e9 les<strong> <a href=\"https:\/\/fra01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.esma.europa.eu%2Fdocument%2Fguidelines-certain-aspects-mifid-ii-suitability-requirements-1&amp;data=05%7C01%7Cv.mey%40www.afg.asso.fr%7Cedf901419eb54adf9f4508db35060418%7C18570703cd134c8fa98760408f80fa42%7C1%7C0%7C638162072177519883%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=ERFEvXkDOT3YjMH1oBJMroEh3vlHkpkhxryN7DARQ34%3D&amp;reserved=0\"><span style=\"text-decoration: underline;\">traductions dans les langues de l\u2019UE<\/span><\/a><\/strong> de ses orientations concernant certains aspects relatifs aux exigences d\u2019ad\u00e9quation de la directive MiFID II (notamment li\u00e9es aux pr\u00e9f\u00e9rences de durabilit\u00e9). Un r\u00e9sum\u00e9 des principales modifications est disponible sur le<span style=\"text-decoration: underline;\"> <strong><a href=\"https:\/\/fra01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.afg.asso.fr%2Fafg-news%2Fpublication-des-orientations-de-lesma-sur-les-preferences-de-durabilite-dans-les-exigences-dadequation-mif%2F&amp;data=05%7C01%7Cv.mey%40www.afg.asso.fr%7Cedf901419eb54adf9f4508db35060418%7C18570703cd134c8fa98760408f80fa42%7C1%7C0%7C638162072177519883%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=IZFXnmarJOCr9oY7B1p5KjAYZTf5lJOJwCbjIkmpIq0%3D&amp;reserved=0\">site de l\u2019AFG<\/a><\/strong><\/span><strong> <\/strong>et la<strong> <span style=\"text-decoration: underline;\"><a href=\"https:\/\/fra01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.esma.europa.eu%2Fsites%2Fdefault%2Ffiles%2F2023-04%2FESMA35-43-3172_Guidelines_on_certain_aspects_of_the_MiFID_II_suitability_requirements_FR.pdf&amp;data=05%7C01%7Cv.mey%40www.afg.asso.fr%7Cedf901419eb54adf9f4508db35060418%7C18570703cd134c8fa98760408f80fa42%7C1%7C0%7C638162072177519883%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=25WJ3zzWhh%2FYqEBv1by2wJ%2Fwi6LbG98ksx5ZRryqfi0%3D&amp;reserved=0\">version fran\u00e7aise des orientations sur le site de l\u2019ESMA<\/a>.<\/span><\/strong><\/p>\n\n\n\n<p>Il est pr\u00e9cis\u00e9 que ces orientations s\u2019appliquent 6 mois apr\u00e8s la publication des traductions sur le site de l\u2019ESMA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>L\u2019ESMA a publi\u00e9 diff\u00e9rents documents. L\u2019ESMA met \u00e0 jour ses lignes directrices sur la gouvernance produit (MIF II) Le 28&hellip;<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wds_primary_category":0,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[5],"tags":[],"thematics":[99],"top_contenu":[],"class_list":["post-109708","post","type-post","status-publish","format-standard","hentry","category-non-classifiee","thematics-mif_ii"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts\/109708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/comments?post=109708"}],"version-history":[{"count":0,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts\/109708\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/media?parent=109708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/categories?post=109708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/tags?post=109708"},{"taxonomy":"thematics","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/thematics?post=109708"},{"taxonomy":"top_contenu","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/top_contenu?post=109708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}