--- title: "ESMA Q&A 1848 — Q&A — Client categorisation [Answer Published]" shortTitle: "ESMA Q&A 1848 — Q&A — Client categorisation [Answer Published]" answer_id: ESMA_QA_1848 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: 25 May 2018 source_link: https://www.esma.europa.eu/publications-data/questions-answers/1848 lifecycle: "Answer Published" text_version: "ESMA Q&A register, 25 May 2018" source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1848" check_status: matched verified: true last_checked: 2026-10-26 checked_against: "the ESMA publication" source: prepared_by: "ESMA" published_by: "ESMA" published_in: "ESMA Q&A tool" evidence: prepared_by: "ESMA Answer" locator: "ESMA Q&A entry ESMA_QA_1848: field 'ESMA Answer', no 'Answer provided by' line" document_type: "qa_answer" legal_nature: "not_legislation" addressees: "not stated in the document" dates: published_on: "2018-05-25" question_submitted_on: "2018-05-25" locators: published_on: "ESMA Q&A Excel export ESMA_QA_1848, column 'Esma responses', date line" question_submitted_on: "ESMA Q&A Excel export ESMA_QA_1848, column 'Date of submission'" lifecycle_label: "Answer Published" --- **Answer by ESMA, published in its Q&A tool · not legislation · published 25 May 2018 [Answer Published]** *Answer Published · ESMA Q&A register, 25 May 2018 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1848)* | | | |---|---| | **Full title** | ESMA Q&A 1848 — Q&A — Client categorisation \[Answer Published\] | | **Prepared by** | ESMA | | **Published by** | ESMA, in the ESMA Q&A tool | | **Reference** | ESMA_QA_1848 | | **Document type** | Q&A | | **Legal nature** | Not legislation | | **Addressees** | Not stated in the document | | **Dates** | Published 25 May 2018; question submitted 25 May 2018 | | **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 When should an investment firm assess whether a private individual investor may be treated as a professional client under Section II of Annex II of MiFID II? *** ### Answer {ESMA 35-43-349 MiFID II Q&As on Investor protection Ch 11, question 2\] Pursuant to Section II of Annex II of MiFID II, a private individual investor may be allowed to waive some of the protections afforded by the conduct of business rules set in MiFID II by requesting to be treated as a professional client. This request must be made by the client in writing and at its own initiative. This written statement shall indicate whether the client asks to be treated as a professional client generally (i.e. for all future transactions and investment services) or in respect of a particular investment service or transaction, or type of transaction or product. This written statement should be in a separate form from contracts or other terms of business. As further discussed in question 2 below, investment firms must perform the assessment and follow the procedure set in Section II of Annex II of MiFID II prior to deciding whether it considers it appropriate to accept such a request. Investment firms should strictly refrain from implementing any form of practice that aims at incentivising, inducing or pressuring a private individual investor to request to be treated as professional client. *** **Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1848)