Risks arising from payment for order flow
Initiative
Official name
PUBLIC STATEMENT ESMA warns firms and investors about risks arising from payment for order flow and from certain practices by “zero-commission brokers”
Type
Comment
Level 3 / Other
Initiator
ESMA
Submitted
Doc. code
ESMA35-43-2749
Summary
Status
Status
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Current version
Final version
Next step
Entry into force and application
Entry into force
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Application date
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Scope
Relevant for
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Associated initiatives
Level 1
MiFID II
(binding, Main version, EU)
Level 2
–
Level 3 / Other
BaFin on ESMA warning on risks in connection with securities orders
(non-binding, DE)
Source: ESMA, ESMA35-43-2749, 2021