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ARTICLE · 17 NOVEMBER 2020

MiFID Firms Required To Review Best Execution

Dillon Eustace
Dillon Eustace
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On 10 November 2020, the Central Bank of Ireland issued a ‘Dear CEO' letter setting out its findings arising from a thematic inspection of investment firms' compliance with the MiFID II best execution requirements.

IrelandFinance and Banking
Keith Waine
Keith Waine
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On 10 November 2020, the Central Bank of Ireland (Central Bank) issued a 'Dear CEO' letter (Letter) setting out its findings arising from a thematic inspection of investment firms' compliance with the MiFID II best execution requirements.

The best execution requirements seek to ensure that investment firms take sufficient steps to obtain the best possible outcome for their clients when executing orders, taking into account price, costs, speed, likelihood of execution and settlement, size, nature and any other relevant consideration.

The Letter reminds firms that the best execution requirements play a critical role in the investor protection framework and are fundamental to the delivery of positive outcomes for clients. Work in this area forms a key part of the Central Bank's ongoing strategy for the MiFID sector.

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