Q&A · ESMA
MiFID practices for firms selling financial instruments subject to the BRRD resolution regime
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
From 28 December 2020 every sale to a retail client of subordinated eligible liabilities issued on or after that date requires a suitability test under Article 25(2) MiFID II and Article 44a BRRD 2, whatever the service (including self-placement); for earlier issues the test applies only to advice and portfolio management unless the Member State has extended it.
Details
| Reference | ESMA_QA_1128 |
|---|---|
| Issuer | ESMA |
| Published | 18 Feb 2020 |
| Answered | 18 Feb 2020 |
| Submitted | 18 Feb 2020 |
| ESMA topics | Information to clients on topics other than costs and charges |
| Earlier Q&A document | ESMA35-43-439 Investor protection BRRD regime Q&A1 |
Provisions it relates to
- Article 25 MiFID II · Assessment of suitability and appropriateness and reporting to clientsInferred · 85%
- MiFID II (whole act)Explicit reference