Answer 4

Based on Article 50(9) of the MiFID II Delegated Regulation, firms shall provide information about the total costs and charges on an annual basis. This means that firms should ensure that once a year the client receives an overview of the total costs and charges incurred in the previous year, based on their personal circumstances and actually incurred costs. These costs and charges shall be totalled and expressed both as a cash amount and as a percentage, as is also described in Article 50(2) of the MiFID II Delegated Regulation.

In addition to the abovementioned obligation, there is room for firms to provide this information more frequently, for instance every time the client receives a (quarterly) report about the investments.