Art. 62 of the MiFID II Delegated Regulation
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?
Answer 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 |