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---
title: "ESMA Q&A 1847 — Q&A — Client categorisation [Answer Published]"
shortTitle: "ESMA Q&A 1847 — Q&A — Client categorisation [Answer Published]"
answer_id: ESMA_QA_1847
topic: "Client categorisation"
status: "Answer Published"
type: qa
instrument_type: qa
authority: ESMA
binding: false
binding_character: non_binding
legal_status: in_force
regulation: "MiFID II"
mifid_level3: true
mica_level2: false
legal_basis: "MiFID II"
date: 3 October 2017
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1847
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 3 October 2017"
source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1847"
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---

**Answer by ESMA, published in its Q&A tool · not legislation · published 3 Oct 2017 [Answer Published]**

*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)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1847 — Q&A — Client categorisation \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1847 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 3 October 2017; question submitted 3 October 2017 |
| **Legal basis** | MiFID II |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Client categorisation**

### Question

Are 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?

***

### Answer

\[ESMA 35-43-349 Q&As on MiFID II Investor protection Ch. 11, question 1\]

Article 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....”

ESMA’s view is that under Article 45(1) of the MiFID II Delegated Regulation, firms only have to notify information on their categorisation to:

new clients; and

clients 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.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1847)