What changed, Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU

+ **1.** Chapter II, and Sections 1 to 4, Article 64(4), Article 65 and Sections 6 to 8 of Chapter III and, to the extent they relate to those provisions, Chapter I and Chapter VIII of this Regulation shall apply to management companies when providing services in accordance with Article 6(4) of Direct…
− **1.** Chapter II, and Sections 1 to 4, Articles 59(4) and 60 and Sections 6 and 8 of Chapter III and, to the extent they relate to those provisions, Chapter I and Section 9 of Chapter III and Chapter IV of this Regulation shall apply to management companies in accordance with Article 6(4) of Direct…
+ 
− **Record-keeping**
+ ### Record-keeping
+ 
+ **Minimum list of records to be kept by investment firms depending upon the nature of their*****activities***
− Minimum list of records to be kept by investment firms depending upon the nature of their activities
+ | **Nature of obligation** | **Type of record** | **Summary of content** | **Legislative reference** |
− | Nature of obligation | Type of record | Summary of content | Legislative reference |
+ |  | Information to clients | Content as provided for under Article 24(4) of Directive 2014/65/EU and Articles 44 to 51 of this Regulation | Article 24(4) of Directive 2014/65/EUArticles 44 to 51 of this Regulation |
+ |  | Client agreements | Records as provided for under Article 25(5) of Directive 2014/65/EU | Article 25(5) Directive 2014/65/EUArticle 58 of this Regulation |
+ |  | Assessment of suitability and appropriateness | Content as provided for under paragraphs 2 and 3 of Article 25 of Directive 2014/65/EU and Articles 54, 55 and 60 of this Regulation | Article 25(2) and (3) of Directive 2014/65/EUArticles 54, 55 and 56 of this Regulation |
− |  | Information to clients | Content as provided for under Article 24(4) of Directive 2014/65/EU and Articles 39 to 45 of this Regulation | Article 24(4) MIFID IIArticles 39 to 45 of this Regulation |
− |  | Client agreements | Records as provided for under Article 25(5) of Directive 2014/65/EU | Article 25(5) MIFID IIArticle 53 of this Regulation |
− |  | Assessment of suitability and appropriateness | Content as provided for under Article 25(2) and (3) of Directive 2014/65/EU and Article 50 of this Regulation | Article 25(2) and (3) of Directive 2014/65/EUArticles 35, 36 and 37 of this Regulation |
+ |  | Client order-handling – Aggregated transactions | Records as provided for under Articles 67 to 70 of this Regulation | Articles 24(1) and 28(1) of Directive 2014/65/EUArticles 67 to 70 of this Regulation |
+ |  | Aggregation and allocation of trans-actions for own account | Records as provided for under Article 69 of this Regulation | Articles 24(1) and 28(1) of Directive 2014/65/EUArticle 69 of this Regulation |
− |  | Client order-handling — Aggregated transactions | Records as provided for under Articles 63 to 66 of this Regulation | Articles 24(1) and 28(1) of Directive 2014/65/EUArticles 63 to 66 of this Regulation |
− |  | Aggregation and allocation of trans-actions for own account | Records as provided for under Article 65 of this Regulation | Articles 28(1) and 24(1) of Directive 2014/65/EUArticle 65 of this Regulation |
+ |  | Record keeping of client orders or decision to deal | Records as provided for under Article 74 of this Regulation | Article 16(6) of Directive 2014/65/EUArticle 74 of this Regulation |
+ |  | Record keeping of transactions and order processing | Records as provided for under Article 75 of this Regulation | Article 16(6) of Directive 2014/65/EUArticle 75 of this Regulation |
− |  | Record keeping of client orders or decision to deal | Records as provided for under Article 69 of this Regulation | Article 16(6) of Directive 2014/65/EUArticle 69 of this Regulation |
− |  | Record keeping of transactions and order processing | Records as provided for under Article 70 of this Regulation | Article 16(6) of Directive 2014/65/EUArticle 70 of this Regulation |
+ |  | Obligation in respect of services provided to clients | Contents as provided for under Articles 59 to 63 of this Regulation | Paragraphs 1 and 6 of Article 24 and paragraphs 1 and 6 of Article 25 of Directive 2014/65/EUArticles 59 to 63 of this Regulation |
− |  | Obligation in respect of services provided to clients | Contents as provided for under Articles 53 to 58 of this Regulation | Article 24(1) and (6) and Article 25(1) and (6) of Directive 2014/65/EUArticles 53 to 58 of this Regulation |
+ |  | Use of client financial instruments | Records provided for under Article 5 of Delegated Directive (EU) 2017/593 | Paragraphs 8, 9 and 10 of Article 16 of Directive 2014/65/EUArticle 5 of Delegated Directive (EU) 2017/593 |
− |  | Use of client financial instruments | Records provided for under Article 5 of Delegated Directive (EU) 2017/593 | Article 16(8) to (10) of Directive 2014/65/EUArticle 5 of Delegated Directive (EU) 2017/593 |
+ |  | Information about Costs and associated charges | Contents as provided for under Article 50 of this Regulation | Article 24(4), point (c) of Directive 2014/65/EUArticle 50 of this Regulation |
+ |  | Information about the investment firm and its services, financial instruments and safe-guarding of client assets | Content as provided for under Articles 47, 48 and 49 of this Regulation | Article 24(4) of Directive 2014/65/EUArticles 47, 48 and 49 of this Regulation |
+ |  | Information to clients | Records of communication | Article 24(3) of Directive 2014/65/EUArticle 46 of this Regulation |
+ |  | Marketing communications (except in oral form) | Each marketing communication issued by the investment firm (except in oral form) as provided under Articles 44 and 46 of this Regulation | Article 24(3) of Directive 2014/65/EUArticles 44 and 46 of this Regulation |
− |  | Information about Costs and associated charges | Contents as provided for under Article 45 of this Regulation | Article 24(4)(c) of Directive 2014/65/EUArticle 45 of this Regulation |
− |  | Information about the investment firm and its services, financial instruments and safe-guarding of client assets | Content as provided for under Articles 45 and 46 of this Regulation | Article 24(4) of Directive 2014/65/EUArticles 45 and 46 of this Regulation |
− |  | Information to clients | Records of communication | Article 24(3) of Directive 2014/65/EUArticle 39 of this Regulation |
− |  | Marketing communications (except in oral form) | Each marketing communication issued by the investment firm (except in oral form) as provided under Articles 36 and 37 of this Regulation | Article 24(3) of Directive 2014/65/EUArticles 36 and 37 of this Regulation |
+ |  | The firm’s business and internal organisation | Records as provided for under Article 21(1), point (f) of this Regulation | Paragraphs 2 to 10 of Article 16 of Directive 2014/65/EUArticle 21(1), point (f) of this Regulation |
+ |  | Compliance reports | Each compliance report to management body | Article 16(2) of Directive 2014/65/EUArticle 22(2), point (c) and Article 25(2) of this Regulation |
− |  | The firm's business and internal organisation | Records as provided for under Article 21(1)(h) of this Regulation | Article 16(2) to (10) of Directive 2014/65/EUArticle 21(1)(h) of this Regulation |
− |  | Compliance reports | Each compliance report to management body | Article 16(2) of Directive 2014/65/EUArticle 22(2)(b) and Article 25(2) of this Regulation |
+ |  | Inducements | The information disclosed to clients under Article 24(9) of Directive 2014/65/EU | Article 24(9) of Directive 2014/65/EUArticle 11, 12 and 13 of Delegated Directive (EU) 2017/593 |
+ |  | Risk management reports | Each risk management report to senior management | Article 16(5) of Directive 2014/65/EUArticle 23(1), point (b) and Article 25(2) of this Regulation |
− |  | Inducements | The information dis-closed to clients under Article 24(9) of Directive 2014/65/EU | Article 24(9) of Directive 2014/65/EUArticle 11 of Delegated Directive (EU) 2017/593 |
− |  | Risk management reports | Each risk management report to senior management | Article 16(5) of Directive 2014/65/EUArticle 23(1)(b) and Article 25(2) of this Regulation |
+ |  | Records of personal transactions | Records as provided for under Article 29(5), point (c) of this Regulation | Article 16(2) of Directive 2014/65/EUArticle 29(5), point (c) of this Regulation |
− |  | Records of personal transactions | Records as provided for under Article 29(2)(c) of this Regulation | Article 16(2) of Directive 2014/65/EUArticle 29(2)(c) of this Regulation |