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FYI re Article 19(4) of MiFID: beware of full blown questionnaires.

  • 23-05-2008 4:00pm
    #1
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭


    I have just received a questionnaire from my stockbroker who needs to comply with the above.
    In my opinion the questionnaire goes way beyond what is required if the following applies:

    a retail client seeking execution-only services in non-complex instruments that are publicly quoted.

    In other words if you just want to buy and sell ordinary shares in quoted companies you should not need to give all the very detailed personal and financial information that they are seeking.
    [ I would imagine that some people would not even share the level of detail sought with their partners:) ]
    Article 19(6) makes provision for retail client execution-only services in non-complex instruments
    so I would urge you to be aware of what they are entitled to ask for and dont be pushed into providing information which they dont need.

    If you are a professional client seeking investment advice in complex instruments, then sin sceil eile.


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