Q&A · ESMA

MiFID II remuneration rules applicable to tied agents

Answered

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AI-generated Summary

Tied agents are relevant persons, so the requirement in Article 27(4) of the MiFID II Delegated Regulation to balance fixed and variable remuneration applies to them, though Recital 41 allows a larger variable share given their special status; Member States using the Article 3 exemption must apply at least analogous remuneration rules.

Details

Reference	ESMA_QA_2784
Issuer	ESMA
Published	23 Feb 2026
Answered	23 Feb 2026
Submitted	23 Feb 2026
ESMA topics	Remuneration

Provisions it relates to

Article 3 MiFID II · Optional exemptions
MiFID II
Explicit reference · 90%
Article 27 MiFID II · Obligation to execute orders on terms most favourable to the client
MiFID II
ESMA rulebook
MiFID II (whole act)
Explicit reference

Documents it refers to

Delegated actIn forceExplicit reference
Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive
European Commission · 31 Mar 2017 · EUR-Lex
AI summaryThe main MiFID II Delegated Regulation: defines key terms (such as investment advice, systematic internaliser, algorithmic and high-frequency trading, and direct electronic access) and sets detailed organisational requirements and operating conditions for investment firms, including compliance, conflicts of interest, remuneration, client information, suitability and appropriateness, best execution, client order handling, reporting to clients, record keeping and transaction-level obligations.