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In this act Article 55 of 92
Text as of 2 Aug 2022 · Consolidated version of 2 August 2022 · Same wording as today’s text.Today’s text

Article 55 — Provisions common to the assessment of suitability or appropriateness (Article 25(2) and 25(3) of Directive 2014/65/EU)

Financial servicesLevel 2Delegated RegulationMiFID IIIn forceOfficial source

55(1)

1.Investment firms 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:

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55(1)(a)
(a)the types of service, transaction and financial instrument with which the client is familiar;
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55(1)(b)
(b)the nature, volume, and frequency of the client's transactions in financial instruments and the period over which they have been carried out;
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55(1)(c)
(c)the level of education, and profession or relevant former profession of the client or potential client.
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55(2)

2.An investment firm shall not discourage a client or potential client from providing information required for the purposes of Article 25(2) and (3) of Directive 2014/65/EU.

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55(3)

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provided by its clients or potential clients unless it is aware or ought to be aware that the information is manifestly out of date, inaccurate or incomplete.

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