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From the Pathfinder
Business concept
How an app can become an activity that requires permission.
INTERACTIVE EXAMPLE / 01
Appropriateness assessment · shares example
For a non-advised investment service, a firm assesses whether your knowledge and experience are sufficient to understand the material risks of the product in question. This guided example uses an ordinary share purchase. Its result explains your answers; it is not an assessment by an investment firm.
Scenario: you wish to buy an ordinary share without personal investment advice. This example does not recommend the share or assess your finances or investment objectives.
Explore the separate derivatives example →
Legal basis & methodology
MiFID II · Art. 25(3)–(4) · ESMA35-43-3006
Appropriateness concerns knowledge and experience relating to the product in question. A positive score is neither investment advice nor a suitability assessment.
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Across our tools & projects
Fit & Proper · skills matrix
Prepare management profiles and collective suitability reviews.
International market entry / Germany
Is Germany your next market?
Considering a local office, a branch or a standalone authorisation in Germany? The appropriate route depends on your home jurisdiction, activities and operating model. 3RMCN combines experience from complex supervisory projects with product, technology and delivery expertise: from entry strategy and key interfaces through to operational readiness.
Discuss your plans ↗Supervisory perspectives
Familiar with several regimes
Experience in the context of CySEC (Cyprus), MFSA (Malta), FCA (United Kingdom), the European ESMA framework and MAS (Singapore). ESMA is not a national licensing authority.
International structuring
Incorporating offshore?
For incorporation in offshore jurisdictions, relevant specialists from the network can be involved. Jurisdiction, activities and regulatory obligations need to be considered for each project.