Requirement (MIFID)
Article 37 Provisions common to the assessment of suitability or appropriateness
Requirements MIFID - DIRECTIVE 2006/73/EC
Description
Description
1. Member States shall ensure that the information regarding a
client's or potential client's knowledge and experience in the
investment field includes the following, to the extent appropriate
to the nature of the client, the nature and extent of the service to
be provided and the type of product or transaction envisaged,
including their complexity and the risks involved:
(a) the types of service, transaction and financial instrument
with which the client is familiar;
(b) the nature, volume, and frequency of the client's transactions
in financial instruments and the period over which
they have been carried out;
(c) the level of education, and profession or relevant former
profession of the client or potential client.
2. An investment firm shall not encourage a client or potential
client not to provide information required for the purposes of
Article 19(4) and (5) of Directive 2004/39/EC.
3. An investment firm shall be entitled to rely on the
information provided by its clients or potential clients unless it
is aware or ought to be aware that the information is manifestly
out of date, inaccurate or incomplete.
Comment
Applies to Article 19(4) and (5) of Directive 2004/39/EC