Art. 27(7) of MiFID II Delegated Regulation Art. 50(9) of MiFID II Delegated Regulation Art. 54(7) of MiFID II Delegated Regulation
The term "ongoing relationship" is used in various articles in the MiFID II Directive and the MiFID II Delegated Regulation. How should this term be understood?
Answer 1
The term "ongoing relationship" should have its ordinary meaning. It should be understood consistently in the context of all articles of the MIFID II Directive or the MiFID II Delegated Regulation [See Articles 27(7) (best execution) of MiFID II, 50(9) (costs and charges) and 54(7) (suitability) of MiFID II Delegated Regulation.] where it appears. The term should apply to a client relationship that is continuing, or has been so during the preceding year. The existence of an ongoing relationship (or not) with a client should be assessed on a case-by-case basis, taking into consideration the nature of the service provided. Firms should be able to explain how, why and when they have ass
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