MFA Submits Comment Letter to ESMA on MiFID Remuneration Guidelines

The MFA submitted the attached comment letter to ESMA in response to ESMA's consultation paper on remuneration guidelines under MiFID. (As the letter notes, many hedge fund managers will become subject to these remuneration principles.) Additionally, the MFA encouraged ESMA to make clear that "the principle of proportionality applied to all of the guidelines and that proportionality included the right for Member State regulators to completely neutralize individual guidelines with respect to certain types of MiFID firms." The MFA also encouraged ESMA to narrow the scope of relevant persons and the intended scope of remuneration policies to focus on areas most relevant to potential conflicts of interest in connection with remuneration policies.

Click here to view letter in full (links externally to MFA website).