Question ID: 1642 - Information appropriate to product or service under suitability assessment
Regulation Reference: (EU) No 2017/2359 - info requirements and conduct of business rules applicable
Topic: Other
Status: Final
Date of submission: 10 Jul 2018
Question
Can EIOPA provide further practical guidance on when the information to be gathered under the suitability assessment would be considered “appropriate to the specific type of product or service”?
EIOPA answer
The information gathered under Article 9(3) of Delegated Regulation 2017/2359 relating to the customer’s financial situation and under Article 9(4) of Delegated Regulation 2017/2359 relating to the customer’s risk objectives will require a case-by-case assessment to identify what will be relevant and proportionate. Article 17(3) and 17(4) of Delegated Regulation 2017/2359 provide further guidance on taking a proportionate approach. EIOPA will consider if it can provide further practical guidance on this issue in the future.