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Template:MiFID 2 42: Difference between revisions
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{{mifid2prov|42}}. '''{{mifid2prov|Provision of services at the exclusive initiative of the client}}''' <br> | {{mifid2prov|42}}. '''{{mifid2prov|Provision of services at the exclusive initiative of the client}}''' <br> | ||
Member States shall ensure that where a {{cobsprov|retail client}} or {{cobsprov|professional client}} within the meaning of Section II of Annex II established or situated in the Union initiates at its own exclusive initiative the provision of an investment service or activity by a {{third-country firm}}, the requirement for authorisation under Article {{mifid2prov|39}} shall not apply to the provision of that service or activity by the third-country firm to that person including a relationship specifically relating to the provision of that service or activity. An initiative by such clients shall not entitle the {{third-country firm}} to market otherwise than through the branch, where one is required in accordance with national law, new categories of investment products or investment services to that client. <br> | Member States shall ensure that where a {{cobsprov|retail client}} or {{cobsprov|professional client}} within the meaning of Section II of Annex II established or situated in the Union initiates at its own exclusive initiative the provision of an investment service or activity by a {{mifid2prov|third-country firm}}, the requirement for authorisation under Article {{mifid2prov|39}} shall not apply to the provision of that service or activity by the third-country firm to that person including a relationship specifically relating to the provision of that service or activity. An initiative by such clients shall not entitle the {{mifid2prov|third-country firm}} to market otherwise than through the branch, where one is required in accordance with national law, new categories of investment products or investment services to that client. <br> | ||