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Client consent to execution policy and execution of orders outside a regulated market or MTF - COBS Provision: Difference between revisions
Client consent to execution policy and execution of orders outside a regulated market or MTF - COBS Provision (view source)
Revision as of 14:27, 31 October 2017
, 31 October 2017→How does one consent?
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{{quote|'''''Q20 How do clients consent to the execution policy?''''' <br> | {{quote|'''''Q20 How do clients consent to the execution policy?''''' <br> | ||
20.1 An investment firm that executes orders or decisions to deal should obtain the prior consent of its clients to its execution policy. CESR observes that for consent to be valid, the legal provisions of the relevant Member State relating to the giving of consent must be satisfied, without prejudice to what is said in Q14 through Q16 about the information that the firm should provide to clients. <br> | 20.1 An investment firm that executes orders or decisions to deal should obtain the [[prior consent]] of its clients to its execution policy. CESR observes that for consent to be valid, the legal provisions of the relevant Member State relating to the giving of consent must be satisfied, without prejudice to what is said in Q14 through Q16 about the information that the firm should provide to clients. <br> | ||
20.2 '''A firm should obtain the prior express consent of its clients before executing their orders outside a regulated market or MTF'''. <br> | 20.2 '''A firm should obtain the [[prior express consent]] of its clients before executing their orders outside a [[regulated market]] or [[MTF|MTF]]'''. <br> | ||
20.3 There are no comparable requirements for firms when they transmit or place orders with other entities for execution but do not execute orders or decisions to deal themselves. <br>}} | 20.3 There are no comparable requirements for firms when they transmit or place orders with other entities for execution but do not execute orders or decisions to deal themselves. <br>}} | ||
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