Commission Delegated Regulation (EU) 2017/565Show full title

Article 3 U.K. Conditions applying to the provision of information

1. Where, for the purposes of this Regulation, information is required to be provided in a durable medium [F1 to [F2 clients or potential clients],]F3 ... investment firms [F4 must provide that information in electronic format, subject to paragraphs 1ZA and 1A.]

[F5 1ZA Where the client or potential client to whom the information is required to be provided is a retail client or potential retail client, investment firms must provide that information in electronic format if—

(a) the retail client or potential retail client has been informed of the right to receive the information on paper instead of in electronic format; and

(b) the retail client or potential retail client has not requested the information on paper.]

[F6 1A. Where the client or potential client is a retail client, or potential retail client, who has requested to receive the information on paper, that information must be provided on paper and free of charge.

F7 1B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

2. Where, pursuant to Article 46, 47, 48, 49, 50 or 66(3) of this Regulation, an investment firm provides information to a client by means of a website and that information is not addressed personally to the client, investment firms shall ensure that the following conditions are satisfied:

(a) the provision of that information in that medium is appropriate to the context in which the business between the firm and the client is, or is to be, carried on;

(b) [F8 in the case of a retail client,] the client must specifically consent to the provision of that information in that form;

(c) the client must be notified electronically of the address of the website, and the place on the website where the information may be accessed;

(d) the information must be up to date;

(e) the information must be accessible continuously by means of that website for such period of time as the client may reasonably need to inspect it.

3. For the purposes of this Article, the provision of information by means of electronic communications shall be treated as appropriate to the context in which the business between the firm and the client is, or is to be, carried on where there is evidence that the client has regular access to the internet. The provision by the client of an e-mail address for the purposes of the carrying on of that business shall be treated as such evidence.

Textual Amendments

F1 Words in Art. 3(1) inserted (26.7.2021) by The Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 (S.I. 2021/774), regs. 1(2), 3(3)(a)

F2 Words in Art. 3(1) substituted (7.6.2023) by The Markets in Financial Instruments (Investor Reporting) (Amendment) Regulations 2022 (S.I. 2022/1297), regs. 1(2), 2(2)(a)(i)

F3 Words in Art. 3(1) omitted (31.12.2020) by virtue of The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 39(4) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F4 Words in Art. 3(1) substituted (7.6.2023) by The Markets in Financial Instruments (Investor Reporting) (Amendment) Regulations 2022 (S.I. 2022/1297), regs. 1(2), 2(2)(a)(ii)

F5 Art. 3(1ZA) inserted (7.6.2023) by The Markets in Financial Instruments (Investor Reporting) (Amendment) Regulations 2022 (S.I. 2022/1297), regs. 1(2), 2(2)(b)

F6 Art. 3(1A)(1B) inserted (26.7.2021) by The Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 (S.I. 2021/774), regs. 1(2), 3(3)(d)

F7 Art. 3(1B) omitted (7.6.2023) by virtue of The Markets in Financial Instruments (Investor Reporting) (Amendment) Regulations 2022 (S.I. 2022/1297), regs. 1(2), 2(3)

F8 Words in Art. 3(2)(b) inserted (26.7.2021) by The Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 (S.I. 2021/774), regs. 1(2), 3(3)(e)