ESMA_QA_1780

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1780

---

Regulatory Context

Regulation : MIF2

Level 1 Regulation: Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Record keeping

Subject Matter: Record keeping

---

Question

Submission Date: 10 October 2016

How should firms prepare copies of records that have been encrypted and which have been requested by clients, competent authorities or other competent third parties?

---

ESMA Answer

Answer Date: 10-10-2016

[ESMA35-43-349 MiFID II Q&As on Investor protection Ch.4, question 1] For records that are captured by the requirements under Article 16(6) and 16(7) of MiFID II, ESMA expects firms to have the organisational and administrative capabilities to convert any encrypted data into an unencrypted format.   ESMA expects firms to deliver or make available copies of these records in an unencrypted and easily analysable format, or provide the means that such data can be unencrypted when requested by the client, competent authority or other competent third party.

---

This document was automatically extracted from the ESMA EMIR Q&A database.