ESMA_QA_1759
                10/10/2016
          Subject Matter
              Suitability and appropriateness
          Original question
Can the suitability report be sent together with the report due when carrying out an order on behalf of a client other than for portfolio management? 
      ESMA Answer
          10-10-2016
      Original language
[ESMA 35-43-349 MiIFID II Investor and protection Q&As ch 2, question 4]
According to Article 25(6) MiFID II, the suitability report has to be provided to the client before the transaction is made. Therefore, it cannot be sent together with the report that is due when carrying out an order on behalf of a client, which has to be provided after the order was carried out.
Different requirements apply in situations described in the third subparagraph of Article 25(6) of MiFID II (i.e. when the agreement is concluded using a means of distance communication) In these cases the suitability report could be sent together with the report about the transaction, but without undue delay and all the relevant requirements have to be fulfilled.
Status: Answer Published
      
Additional Information
Level 1 Regulation
              Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
          Topic
              Suitability