Template:Express prior consent: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 1: | Line 1: | ||
Is [[express prior consent]] | ===Prior consent, express prior consent, prior express consent, and MiFID=== | ||
Is “[[express prior consent]]” — a [[MiFID II]] expression, the same thing as “[[prior express consent]]” also a [[MiFID II]] expression featuring a lot in the context of [[best execution]]? | |||
Who can say? | Who can say? And what of plain old “[[prior consent]]” — ''also'' a [[MiFID II]] expression — admitting as it does, of nods, winks, raised eyebrows and putting two and two together? | ||
Let [[CESR]] explain:<ref>See: {{tag|CESR}}'s "[[Media:CESR Best Execution QA 07_320.pdf|Best Execution under MiFID]]" Questions and Answers document of May 2007 (CESR/07-320)</ref> | |||
{{quote|Q21 '''What is the difference between “consent” and “express consent”?''' | |||
21.1 Where [[MiFID]] requires “[[prior express consent]]”, CESR considers that this entails '''an actual demonstration of consent by the client which may be provided by signature in writing or an equivalent means''' (electronic signature), by a click on a web page or orally by telephone or in person, with appropriate record keeping in each case.}} | |||
Prior ''normal'' consent, on the other hand, does not. You can [[deem]] it by conduct — the placement of an order, for example. Or a nod, wink, waggle of the head or unambiguous bodily action. | |||