# C_2020175EN.01000401.xml

| 25.5.2020 | EN | Official Journal of the European Union | C 175/4 |
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25.5.2020

EN

Official Journal of the European Union

C 175/4

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Request for a preliminary ruling from the Administrativen sad Varna (Bulgaria) lodged on 25 February 2020 — VARCHEV FINANS EOOD v Komisia za finansov nadzor

(Case C-95/20)

(2020/C 175/04)

Language of the case: Bulgarian

Referring court

Administrativen sad Varna

Parties to the main proceedings

Applicant: VARCHEV FINANS EOOD

Defendant: Komisia za finansov nadzor

Questions referred

| 1. | Is Article 56(2), read in combination with Article 72(2) of and Annex I to Commission Delegated Regulation (EU) 2017/565 (1) of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive to be interpreted as meaning that:






  — | investment firms must maintain (and keep up to date) a separate single register (in the form of a database) recording the suitability and appropriateness assessments undertaken for each client with the content provided for in Article 25(2) and (3) of Directive 2014/65/EU and Article [56] of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016?
  Or does it suffice that the abovementioned data are in the possession of the investment firm and are attached to the record [in the Bulgarian version: ‘file/dossier’] for each client in accordance with Article 25(5) of Directive 2014/65/EU and that that information is stored in a way accessible for future reference by the competent authority and in such a form and manner that the conditions of Article 72(1) of Delegated Regulation (EU) 2017/565 are met? |
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1.

Is Article 56(2), read in combination with Article 72(2) of and Annex I to Commission Delegated Regulation (EU) 2017/565 (1) of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive to be interpreted as meaning that:

—

investment firms must maintain (and keep up to date) a separate single register (in the form of a database) recording the suitability and appropriateness assessments undertaken for each client with the content provided for in Article 25(2) and (3) of Directive 2014/65/EU and Article [56] of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016?

Or does it suffice that the abovementioned data are in the possession of the investment firm and are attached to the record [in the Bulgarian version: ‘file/dossier’] for each client in accordance with Article 25(5) of Directive 2014/65/EU and that that information is stored in a way accessible for future reference by the competent authority and in such a form and manner that the conditions of Article 72(1) of Delegated Regulation (EU) 2017/565 are met?

| 2. | Is Article 72(2) of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive, read in combination with Annex I to that Regulation, to be interpreted as meaning that:






  — | investment firms must maintain (and keep up to date) for all clients a separate single register (in the form of a database) recording the information on costs and ancillary costs provided to each client with the content provided for in Article [50] of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016?
  Or does it suffice that the abovementioned data are in the possession of the investment firm and are attached to the record [in the Bulgarian version: ‘file/dossier’] for each client in accordance with Article 25(5) of Directive 2014/65/EU and that that information is stored in a way accessible for future reference by the competent authority and so that the conditions of Article 72(1) of Delegated Regulation (EU) 2017/565 are met? |
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2.

Is Article 72(2) of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive, read in combination with Annex I to that Regulation, to be interpreted as meaning that:

—

investment firms must maintain (and keep up to date) for all clients a separate single register (in the form of a database) recording the information on costs and ancillary costs provided to each client with the content provided for in Article [50] of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016?

Or does it suffice that the abovementioned data are in the possession of the investment firm and are attached to the record [in the Bulgarian version: ‘file/dossier’] for each client in accordance with Article 25(5) of Directive 2014/65/EU and that that information is stored in a way accessible for future reference by the competent authority and so that the conditions of Article 72(1) of Delegated Regulation (EU) 2017/565 are met?

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(1)  OJ 2017 L 87, p. 1.

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