The European Securities and Markets Authority has published guidelines to govern the cross-selling practices that the European Union's second Markets in Financial Instruments Directive covers, with the aim of ensuring that investment firms treat investors fairly when they offer them two or more financial products or services as part of a package.

The guidelines include principles that are designed to:

• improve disclosures when different products are cross-sold with one another;
• require firms to provide investors with all relevant information in a timely and clear manner;
• address conflicts of interest arising from remuneration models; and
• improve the ability of clients to know whether it is possible to purchase individual products offered as part of a package.

The guidelines come into force on 3 January 2017.