Article 9 F1F2
To ensure that investment firms comply with the principles laid down in rules made by the competent authority under FSMA, equivalent to the principles set out in paragraphs 2 to 6 of Article 25 of Directive 2014/65/EU when providing investment or ancillary services to their clients, including providing for the—
information investment firms must obtain when assessing the suitability or appropriateness of the services and financial instruments for their clients;
criteria firms must use to assess non-complex financial instruments for the purposes of rule 10A.4.1(2)(f) of the Conduct of Business sourcebook;
content and the format of records and agreements for the provision of services to clients and of periodic reports to clients on the services provided.
Regulations made for the purposes set out in point (1) must take into account—
the nature of the service offered or provided to the client or potential client, having regard to the type, object, size and frequency of the transactions;
the nature of the products being offered or considered, including different types of financial instruments;
the retail or professional nature of the client or potential clients or, where appropriate, their classification as eligible counterparties .
Annotations
Textual amendments
- F1
Regulation revoked (5.4.2024 for the revocation of Sch. 3 paras. 17, 34-39, 1.12.2025 for the revocation of Art. 18b, 30.3.2026 for the revocation of Arts. 4, 4a) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)); S.I. 2023/1382, reg. 4(b); S.I. 2025/1078, regs. 4(b), 6(b)
- F2
Sch. 3 inserted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 37 (as amended by: S.I. 2019/576, regs. 1(2), 3; S.I. 2019/710, regs. 1(2), 16(17); S.I. 2019/1212, regs. 1(3), 14(7) (as itself amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 45(a)(v)); S.I. 2020/1301, regs. 1, 3, Sch. para. 12(m); and S.I. 2020/1385, regs. 1(4), 49(6)) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)