{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2020-02-18","gaps":[],"covered":["ESMA Q&A 1129 — Q&A — MiFID practices for firms selling financial [Answer Published] L3"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"the ESMA publication"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments","url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments","title":"ESMA Q&A 1129 — Q&A — MiFID practices for firms selling financial [Answer Published]","family":"l3","work_id":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments","status":"answer published","force_status":null,"date_state":"current","requested_date":null,"as_of":"2026-11-02","applies_from":null,"application":null,"version_label":"ESMA Q&A register, 18 February 2020","check":{"against":"the ESMA publication","on":"2026-10-26"},"check_result":"matched","official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1129","valid_from":"0001-01-01","valid_until":null,"revision":1,"content_id":"c536666caffd967a","change_date":null,"nearest_versions":["2020-02-18"],"first_text_date":null,"correction_applies":false,"versions":["2020-02-18"],"version_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments/versions/2020-02-18","revision_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments/versions/2020-02-18/rev/c536666caffd967a","versions_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments/relations","source_line":"Answer by ESMA, published in its Q&A tool · not legislation · published 18 Feb 2020 [Answer Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2020-02-18","question_submitted_on":"2020-02-18","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1129, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1129, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1129","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-1129-mifid-practices-for-firms-selling-financial-instruments.md","body_sha256":"6223057988c087f02e76225d14f1dc354d7a150a40127e38472c13c5f4d3eaf4"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1129 — Q&A — MiFID practices for firms selling financial [Answer Published]\"\nshortTitle: \"ESMA Q&A 1129 — Q&A — MiFID practices for firms selling financial [Answer Published]\"\nanswer_id: ESMA_QA_1129\ntopic: \"Information to clients on topics other than costs and charges\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFID II\"\nmifid_level3: true\nmica_level2: false\nlegal_basis: \"MiFID II\"\ndate: 18 February 2020\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1129\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 18 February 2020\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1129\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1129: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2020-02-18\"\n  question_submitted_on: \"2020-02-18\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1129, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1129, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 18 Feb 2020 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 18 February 2020 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1129)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1129 — Q&A — MiFID practices for firms selling financial \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1129 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 18 February 2020; question submitted 18 February 2020 |\n| **Legal basis** | MiFID II |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**MiFID practices for firms selling financial instruments subject to the BRRD resolution regime**\n\n### Question\n\nDoes Article 44a of BRRD 2 apply only if there is an active offering on the part of the firm?\n\n***\n\n### Answer\n\n\\[ESMA35-43-439 Investor protection BRRD regime Q&A 2\\]\n\nNo. Article 44a will apply independently of any marketing or active offering by the seller of the subordinated eligible liabilities, and whether the transaction has been initiated by the client or the firm (thus, including in case of reverse solicitation).\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1129)\n"}