ESMA_QA_1812
23/03/2018
Subject Matter
Post-sale reporting
Original question
For the purpose of Article 62(1) of the MiFID II Delegated Regulation, if the same threshold is exceeded again and again during the same reporting period, should the firm report the fact to the client each time the threshold is exceeded?
ESMA Answer
23-03-2018
Original language
[ESMA 35-43-349 MiFID II Q&As Investor protection Ch. 8, question 12]
No, ESMA’s view is that no new information is needed for the purpose of Article 62(1) of the MiFID II Delegated Regulation if no new threshold is exceeded during the same reporting period.
EXAMPLE:
| Date | Value of the portfolio | Change in value of the portfolio | Obligation to report (in line with Article 62(1) of the MiFID II Delegated Regulation? |
| 3 Jan 2018 | 100,000 € | - | - |
| 10 Jan 2018 | 90,000 € | Depreciation of 10% | Obligation to report |
| 25 Jan 2018 | 92.000 € | Increase of 2% | No obligation to report |
| 27 Jan 2018 | 89,000 € | Additional depreciation of 3% | No obligation to report |
Status: Answer Published
Additional Information
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
Topic
Reporting to clients