Q&A · ESMA
Suitability and appropriateness
Answered
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Firms must not advise or manage portfolios without the necessary information on a client's financial situation, but in limited cases may assess suitability without full disclosure of assets, for example where the client gives complete information on all liabilities; this must be stated in the suitability report.
Details
| Reference | ESMA_QA_1762 |
|---|---|
| Issuer | ESMA |
| Published | 10 Oct 2016 |
| Answered | 10 Oct 2016 |
| Submitted | 10 Oct 2016 |
| ESMA topics | Suitability |
| Earlier Q&A document | ESMA35-43-349 MiFID II Q&As on Investor protection Ch2, question 7 |
Provisions it relates to
- Article 25 MiFID II · Assessment of suitability and appropriateness and reporting to clientsInferred · 95%
- MiFID II (whole act)Explicit reference