ESMA warns firms and investors about risks arising from payment for order flow
MiFID Firms
Date:
29 July 2021
On 13 July 2021, the European Securities and Markets Authority (ESMA) issued a
public statement to remind firms that the receipt of payment for order flow (PFOF) raises significant investor protection concerns. It also highlights key MiFID II obligations aimed at ensuring firms act in their clients’ best interest when executing their orders.