Page 60 - 期货和衍生品行业监管动态（2022年10月）

期货和衍生品行业监管动态

ESMA 和各成员国监管机构（NCAs）将继续密切监测金融市场及其参与者，

通过加强对投资者的保护和促进稳定有序的金融市场，来保障欧盟金融体系的稳

定。

15. ESMA Reminds Firms of the Impact of Inflation in the Context of

Investment Services to Retail Clients (2022/9/27)

The European Securities and Markets Authority (ESMA), the EU’s securities

markets regulator, today publishes a statement reminding firms to consider inflation

and inflation risk when applying relevant MiFID II requirements in the interest of

investor protection.

Over the past months inflation rates have risen in the EU, as in the rest of the

world, and this growth in inflation has impacted households both in their daily lives
and in their investments and investment decisions.

ESMA notes that from an investor protection perspective, this trend poses a risk

for retail investors, as some of them will not fully appreciate the link between

inflation and financial markets and may not fully understand how considerations on

inflation should be factored in when they make saving and investment decisions.

ESMA is therefore issuing this Statement to remind firms of relevant MiFID II

requirements as it believes that investment firms may play a role in considering

inflation and inflation risk, both when manufacturing and distributing investment

products and when providing investment services to retail clients. Investment firms

can also help raising clients’ awareness of inflation risk.

Next steps

ESMA and the national competent authorities (NCAs) will continue to monitor

closely financial markets and their participants in the interest safeguarding the
stability of the EU's financial system by enhancing the protection of investors and

promoting stable and orderly financial markets.

50