Call for evidence on Impact of the inducements and costs and charges disclosure requirements under MiFID II

Call for evidence on Impact of the inducements and costs and charges disclosure requirements under MiFID II

from 17 July 2019 to 06 September 2019


Responding to this paper

ESMA invites comments on this paper and in particular on the specific questions summarised in Chapter 3.

ESMA will consider all comments received by 6 September 2019.

All contributions should be submitted online at under the heading ‘Your input - Consultations’.

Publication of responses

All contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publicly disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman.

Data protection Information on data protection can be found at under the heading Legal Notice.

Who should read this paper

All interested stakeholders are invited to respond to this call for evidence. This call for evidence is primarily of interest to (i) firms which are subject to Article 24(4) and (9) of MiFID II1 when providing investment services and/or ancillary services and (ii) consumer groups and investors. Item (i) of the above includes investment firms (as defined in Article 4(1)(1) of MiFID II), credit institutions when providing investment services and activities, external Alternative Investment Fund Managers (AIFMs) (as defined in Article 5(1)(a) of the AIFMD2) and UCITS management companies (as defined in Article 2(1)(b) of the UCITS Directive3) when providing investment services (in accordance with Article 6(4) of the AIFMD and Article 6(3) of the UCITS Directive, respectively).  

Document available for this Consultation
17/07/2019ESMA35-43-1905 Call for evidence Impact of the inducements and costs and charges disclosure requirements under MiFID II


Activity Institution Download
Asset Management Amundi Asset Management
Asset Management Assogestioni
Asset Management BlackRock
Asset Management Invesco
Asset Management J.P. Morgan Asset Management
Asset Management Ruffer LLP
Asset Management Vanguard Asset Management Limited
Asset Management AIMA and MFA
Asset Management EFAMA
Asset Management The Investment Association
Asset Management BVI
Asset Management AFG_ Association Française de la Gestion financière
Banking German Banking Industry Committee
Banking Association of Foreign Banks in Germany (VAB)
Banking European Association of Co-operative Banks (EACB)
Banking Finance Denmark
Banking European Savings and Retail Banking Group (ESBG)
Banking BNPParibas
Banking Italian Banking Association
Banking Polish Bank Association
Banking Deutsche Bank AG
Banking DDV, German Derivatives Association
Investment Services ASSORETI
Investment Services Nordic Securities Association
Investment Services ANASF - Associazione nazionale consulenti finanziari
Investment Services Associazione Intermediari Mercati Finanziari - Assosim
sped39-09-19.pdf (325.03 KB)
Investment Services Bundesverband der Wertpapierfirmen e.V.
Investment Services Personal Investment Management & Financial Advice Association (PIMFA)
Others AFTI
Others Spanish Securities Market Stakeholder Group of the CNMV
Others The Polish Chamber of Brokerage Houses
Others BETTER FINANCE - The European Federation of Investors and Financial Services Users
Others Associazione Italiana Private Banking
Others Finance Finland
Others The Association for Financial Markets in Europe (AFME)
Others AMAFI
Others Austrian Federal Economich Chamber, Division Bank and Insurance
Others EFFAS
Others BEUC, European Consumer Organisation
Others Instituto Español de Analistas Financieros
Insurance, pension & asset management European Federation of Financial Advisers and Financial Intermediaries (FECIF)
Insurance, pension & asset management BIPAR