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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":"2017-10-03","question_submitted_on":"2017-10-03","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1847, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1847, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1847","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-1847-client-categorisation.md","body_sha256":"55c3e0ae76163de6fe79e9ce71c65803f6c3d4876c52ecb370e3b178690633e0"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1847 — Q&A — Client categorisation [Answer Published]\"\nshortTitle: \"ESMA Q&A 1847 — Q&A — Client categorisation [Answer Published]\"\nanswer_id: ESMA_QA_1847\ntopic: \"Client categorisation\"\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: 3 October 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1847\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 3 October 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1847\"\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_1847: 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: \"2017-10-03\"\n  question_submitted_on: \"2017-10-03\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1847, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1847, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 3 Oct 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 3 October 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1847)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1847 — Q&A — Client categorisation \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1847 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 3 October 2017; question submitted 3 October 2017 |\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**Client categorisation**\n\n### Question\n\nAre investment firms required to inform of their MiFID categorisation all their clients, including those already categorised under MIFID I, or should they just provide such information to new clients or to clients which categorisation has changed under MIFID II?\n\n***\n\n### Answer\n\n\\[ESMA 35-43-349 Q&As on MiFID II Investor protection Ch. 11, question 1\\]\n\nArticle 45(1) of the MiFID II Delegated Regulation requires investment firms to “notify new clients, and existing clients that the investment firm has newly categorised as required by Directive 2014/65/EU, of their categorisation....”\n\nESMA’s view is that under Article 45(1) of the MiFID II Delegated Regulation, firms only have to notify information on their categorisation to:\n\nnew clients; and\n\nclients whose categorisation has changed under MiFID II. Such is the case for instance for certain local public authorities or municipalities which could have been categorised as professional clients under MiFID I and will now be considered as retail clients according to paragraph 1 of section II.1 of Annex II of MiFID II.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1847)\n"}