CELEX: 62020CA0095
Language: en
Date: 2021-10-28 00:00:00
Title: Case C-95/20: Judgment of the Court (Ninth Chamber) of 28 October 2021 (request for a preliminary ruling from the Administrativen sad Varna — Bulgaria) — ‘Varchev Finans’ EOOD v Komisia za finansov nadzor (Reference for a preliminary ruling — Directive 2014/65/EU — Markets in financial instruments — Delegated Regulation (EU) 2017/565 — Investment firms — Article 56 — Assessment of appropriateness and related record-keeping obligations — Article 72 — Retention of records — Methods of retention — Information concerning client categorisation — Information on costs and associated charges relating to investment services)

3.1.2022   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 2/6
            
         
      Judgment of the Court (Ninth Chamber) of 28 October 2021 (request for a preliminary ruling from the Administrativen sad Varna — Bulgaria) — ‘Varchev Finans’ EOOD v Komisia za finansov nadzor
      (Case C-95/20) (1)
      
      (Reference for a preliminary ruling - Directive 2014/65/EU - Markets in financial instruments - Delegated Regulation (EU) 2017/565 - Investment firms - Article 56 - Assessment of appropriateness and related record-keeping obligations - Article 72 - Retention of records - Methods of retention - Information concerning client categorisation - Information on costs and associated charges relating to investment services)
      (2022/C 2/07)
      Language of the case: Bulgarian
      
         Referring court
      
      Administrativen sad Varna
      
         Parties to the main proceedings
      
      
         Applicant:‘Varchev Finans’ EOOD
      
         Defendant: Komisia za finansov nadzor
      
         Intervener: Okrazhna prokuratura — Varna
      
         Operative part of the judgment
      
      Article 56(2) and 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 conjunction with Annex I to that delegated regulation, must be interpreted as meaning that investment firms are not required to record the suitability and appropriateness assessments undertaken for each client with respect to investment products and services and the information provided to each client on the costs and charges relating to the investment services in separate single registers, in the form, in particular, of a database, and the manner in which those records are kept may be freely chosen, provided, however, that it meets all of the requirements laid down in Article 72(1) of that delegated regulation.
      
         (1)  OJ C 175, 25.5.2020.