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ARTICLE · 03 AUGUST 2022

ESG In The Banking Sector - CSSF Press Release On The Integration Of Sustainability Considerations Under MiFID II

Arendt & Medernach
Arendt & Medernach
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Arendt & Medernach

Arendt & Medernach

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As from 2 August 2022, pursuant to Commission Delegated Regulation 2021/1253 of 21 April 2021 amending Delegated Regulation 2017/565, banks and investment firms that provide investment...

LuxembourgFinance and Banking
Emmanuelle Mousel
Emmanuelle Mousel
Marc Mouton
Marc Mouton
Glenn Meyer
Glenn Meyer
Philippe Dupont
Philippe Dupont
Clara Bourgi
Clara Bourgi
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I. Integrating sustainability preferences in the suitability assessment


As from 2 August 2022, pursuant to Commission Delegated Regulation 2021/1253 of 21 April 2021 amending Delegated Regulation 2017/565, banks and investment firms that provide investment advice or portfolio management to professional and retail clients ("Concerned Entities") are required to consider clients' sustainability preferences in their suitability assessment.

In that context, the CSSF published two press releases on 1 and 2 August 2022 reminding Concerned Entities of this requirement.

The CSSF is aware that the European Securities and Markets Authority ("ESMA") is finalising the update of its Guidelines on certain aspects of the MiFID II suitability requirements.

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