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DIRECTIVE (EU) 2021/338 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 February 2021 amending Directive 2014/65/EU as regards information requirements, product governance and position limits, and Directives 2013/36/EU and (EU) 2019/878 as regards their application to investment firms, to help the recovery from the COVID-19 crisis (Text with EEA relevance) · European Union

(7) Clients with an ongoing relationship with an investment firm receive mandatory service reports, either periodically or based on triggers. Neither investment firms nor their professional clients or eligible counterparties find such service reports useful. Those reports have proven to be particularly unhelpful for professional clients and eligible counterparties in extremely volatile markets, as the reports are provided in a high frequency and number. Professional clients and eligible counterparties often react to those service reports either by not reading them, or by making quick investment decisions rather than continuing with a long-term investment strategy. Eligible counterparties should therefore no longer receive mandatory service reports. Professional clients should also no longer receive such service reports, but they should have the possibility to opt in to receiving them.

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Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.