Investment firms have to ensure that all natural persons who provide investment advice or information to their clients, have the necessary knowledge and competence. This applies in particular to those who provide information about investment services, structured deposits, financial instruments or ancillary services. MiFID I already introduced the requirement that investment firms have to employ personnel with the necessary skills, knowledge and expertise. This remains unchanged.
The ESMA Guidelines for the assessment of knowledge and competence specify the criteria for the assessment.