Q&A · ESMA

Information on cost and charges

Answered

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AI-generated Summary

Portfolio managers may give the annual ex-post costs and charges information in the Article 60 periodic statement, but it must then meet Article 50(9)-(10) in full; quarterly or monthly statements do not remove the need to give clients an annual aggregate of costs.

Details

Reference	ESMA_QA_1845
Issuer	ESMA
Published	4 Dec 2019
Answered	4 Dec 2019
Submitted	4 Dec 2019
ESMA topics	Information to clients on costs and charges
Earlier Q&A document	ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 9 , question 32

Provisions it relates to

Article 24 MiFID II · General principles and information to clients
MiFID II
Inferred · 85%
MiFID II (whole act)
Explicit reference

Documents it refers to

Delegated actIn forceExplicit reference · 90%
Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive
European Commission · 31 Mar 2017 · EUR-Lex
AI summaryThe main MiFID II Delegated Regulation: defines key terms (such as investment advice, systematic internaliser, algorithmic and high-frequency trading, and direct electronic access) and sets detailed organisational requirements and operating conditions for investment firms, including compliance, conflicts of interest, remuneration, client information, suitability and appropriateness, best execution, client order handling, reporting to clients, record keeping and transaction-level obligations.