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ESMA proposes 'robo-advice' guidelines to improve information, suitability checks

( July 13, 2017, 15:34 GMT | Official Statement) -- MLex Summary: Online, automated investment advice should come with an explanation of whether and how savers could follow up with human staff, the European Securities and Markets Authority said as part of proposed guidelines for "robo-advice." Questionnaires that aim to establish clients' needs also should be designed to guard against inconsistencies between factors such as age and investing objectives, in the draft measures, which won't be binding although regulators must state whether they will apply them.The text of the statement follows. Click the attachment at bottom for the full consultation paper....

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