ALFI responds to the ESMA consultation on the proposed guidelines on reverse solicitation and similar aspects in the scope of MIFID II, under MiCA

On 19 April 2024, ALFI responds to the ESMA consultation on the draft common guidelines on reverse solicitation under the Market in Crypto Assets (MiCA).

The proposed guidelines aim at providing more guidance on the conditions of application of the reverse solicitation exemption and the supervision practices that national competent authorities may take to prevent its circumvention.

In our response to this consultation, ALFI generally agrees with the proposed content of the guidelines. We appreciate the underlying purpose of these guidelines is to foster investor protection and we are in favour of the proposed regulatory convergence with the corresponding provisions under MiFID II.

View the ALFI response.