Q&A · ESMA

Aggregation of costs and charges

Answered

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AI-generated Summary

Firms must aggregate costs and charges for the service and for the instruments, itemise third-party payments separately, and show the total as a cash amount and a percentage; on request they must give a breakdown at least by the Annex II cost items, showing an all-in fee under the relevant item and zero for items it covers.

Details

Reference	ESMA_QA_2024
Issuer	ESMA
Published	13 Dec 2023
Answered	13 Dec 2023
Submitted	13 Dec 2023
ESMA topics	Information to clients on costs and charges
Former reference	This Q&A updates the ESMA Q&A 1825. The updated wording of the answer is set out in bold and underlined.

Provisions it relates to

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

Documents it refers to

Delegated actIn forceExplicit reference
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.