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
To comply with Article 44a(1) and (2) BRRD 2 when selling subordinated eligible liabilities to retail clients, firms must collect the information for a MiFID II suitability test and, beyond it, information on the client's whole portfolio, including such liabilities held with other firms.
Details
| Reference | ESMA_QA_1130 |
|---|---|
| Issuer | ESMA |
| Published | 14 Jun 2023 |
| Answered | 14 Jun 2023 |
| Submitted | 14 Jun 2023 |
| ESMA topics | Information to clients on topics other than costs and charges |
| Earlier Q&A document | ESMA35-43-439 Investor protection BRRD Q&A 3 |
Provisions it relates to
- Article 25 MiFID II · Assessment of suitability and appropriateness and reporting to clientsInferred · 85%
- MiFID II (whole act)Explicit reference