ESMA · ESMA_QA_1132 Answer Published

MiFID practices for firms selling financial instruments subject to the BRRD resolution regime

Name: MiFID practices for firms selling financial instruments subject to the BRRD resolution regime: ESMA Q&A — EU Financial Regulatory Q&A
Creator: European Securities and Markets Authority
License: https://creativecommons.org/licenses/by/4.0/

Regulation: Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
Topic: Information to clients on topics other than costs and charges
Submitted: 2020-02-18
Answered: 2020-02-18

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Question

What happens if a transaction relating to subordinated eligible liabilities is deemed unsuitable by the firm, but the retail client wishes to proceed anyway?

Answer

[ESMA35-43-439 Investor protection BRRD Q&A 5] In accordance with Article 44a(1)(b) of BRRD 2, the client is not allowed to proceed with the transaction.

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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.