EIOPA · 1642 - Information appropriate to product or service under suitability assessment
Other
- Regulation
- (EU) No 2017/2359 - info requirements and conduct of business rules applicable
- Topic
- Other
- Submitted
- 2018-07-10
- Answered
- 2019-09-04
Question
Can EIOPA provide further practical guidance on when the information to be gathered under the suitability assessment would be considered “appropriate to the specific type of product or service”?
Answer
The information gathered under Article 9(3) of Delegated Regulation 2017/2359 relating to the customer’s financial situation and under Article 9(4) of Delegated Regulation 2017/2359 relating to the customer’s risk objectives will require a case-by-case assessment to identify what will be relevant and proportionate. Article 17(3) and 17(4) of Delegated Regulation 2017/2359 provide further guidance on taking a proportionate approach. EIOPA will consider if it can provide further practical guidance on this issue in the future.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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