Q&A · ESMA

Suitability

Rejected

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AI-generated Summary

Asked whether the presumption in Article 54(3) of the MiFID II Delegated Regulation that professional clients have the necessary knowledge and experience can ever apply, given that Article 54(6) looks to the natural person representing a legal entity. ESMA rejected the question, so there is no answer.

Details

Reference	ESMA_QA_607
Issuer	ESMA
Published	25 Oct 2022
Submitted	25 Oct 2022
ESMA topics	Suitability

Provisions it relates to

Annex II MiFID II · PROFESSIONAL CLIENTS FOR THE PURPOSE OF THIS DIRECTIVE
MiFID II
Explicit reference · 90%
MiFID II (whole act)
Explicit reference

Documents it refers to

Delegated actIn forceExplicit reference
Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive
European Commission · 31 Mar 2017 · EUR-Lex
AI summaryThe main MiFID II Delegated Regulation: defines key terms (such as investment advice, systematic internaliser, algorithmic and high-frequency trading, and direct electronic access) and sets detailed organisational requirements and operating conditions for investment firms, including compliance, conflicts of interest, remuneration, client information, suitability and appropriateness, best execution, client order handling, reporting to clients, record keeping and transaction-level obligations.