ESMA_QA_1832
Topic
Information to clients on costs and charges
03/10/2017
Subject Matter
Information on cost and charges
Question
How should the cost disclosure be made regarding the respective figures that are to be disclosed in aggregated and itemized form (see Question 13/[Q&A 1825]) in case the respective costs or charges are zero?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1831
Topic
Information to clients on costs and charges
03/10/2017
Subject Matter
Information on cost and charges
Question
Which specific limitations to the cost transparency regime may professional clients and eligible counterparties agree on?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1830
Topic
Information to clients on costs and charges
03/10/2017
Subject Matter
Information on cost and charges
Question
How should an investment firm assess, in accordance with Article 50(1) paragraph 3 of the MiFID II Delegated Regulation, that an eligible counterparty does not intend to offer the financial instruments to its clients?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1829
Topic
Information to clients on costs and charges
03/10/2017
Subject Matter
Information on cost and charges
Question
How should investment firms identify and disclose mark-ups and structuring costs embedded in the transaction price (Recital 79 of the MiFID II Delegated Regulation)?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1828
Topic
Information to clients on costs and charges
03/10/2017
Subject Matter
Information on cost and charges
Question
How is Recital 79 of the MiFID II Delegated Regulation “The costs and charges disclosure is underpinned by the principle that every difference between the price of a position for the firm and the respective price for the client should be disclosed, including mark-ups and mark-downs.” to be interpreted with regard to the position for the firm?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries