Guidelines on certain aspects of the MiFID II compliance function requirements

ESMA's 2020 final report and guidelines (ESMA35-36-1946) on the MiFID II compliance function, updating the 2012 guidelines: they cover the function's responsibilities (risk assessment, monitoring, reporting and advisory duties), its organisation (effectiveness, independence, permanence, resources and proportionality, combination with other functions and outsourcing) and competent authorities' review of it.