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By Dr. Sebastiaan NIELS HOOGHIEMSTRA*
As part of the EU Retail investment strategy, the European Commission (“EC”) published on 24 May 2023 a proposal (the “RISD”) to amend, amongst others, Directive 2014/59/EU (“MiFID 2”). Most notably, the RISD contains a proposal to amend the MiFID 2 client classification rules in which the so-called professional client “opt-up” procedure is proposed to be amended. This, potentially, widens the marketing passport under Directive 2011/61/EU, as amended (the “AIFMD”), as the professional investor definition under the AIFMD refers to the professional client definition under MiFID 2. This contribution provides a brief overview of the impact of the proposed amendments to the client classification rules under MiFID 2 for...
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