ESMA have today (13 January 2021) issued a reminder of the (MiFID II) rules regarding ‘reverse solicitation’ in the context of the recent end of the UK transition period, citing "...some questionable practices by firms around reverse solicitation have emerged...".

This represents a clear warning to firms to be vigilant around their marketing practices which are likely to come under the increased scrutiny of Member State National Competent Authorities since the UK's exit from the EU.