(Published as Crowdfunding Q&A 5.14)

No, the entry knowledge test and the simulation of ability to bear loss under ECSPR as well as the suitability and appropriateness assessments under MiFID II must be all performed extensively.

ESMA recognizes, however, that the information collected for the purpose of one assessment or test can be used for the purpose of another (assuming the information is up-to-date). For example, information collected in the context of MiFID II can be used by a CSP to perform the assessment in the context of Article 21(7)(c) of ECSPR. Where relevant, any remaining information might be collected by means of a supplement questionnaire.