When providing portfolio management, how does the investment firm’s obligation to provide ex-post aggregated costs and charges information under Art. 50(9) of the MiFID II Delegated Regulation relate to existing reporting obligations under Article 60 of the same Regulation?

Answer 32

In accordance with Article 50(9) of theMiFID II Delegated Regulation, firms may choose to provide annual aggregated ex-post information on total costs and charges “together with any existing periodic reporting to clients”.

In the case of portfolio management, Article 60 of the MiFID II Delegated Regulation also applies.

So, if a firm decides to fulfil its ex-post costs and charges disclosure obligations under Article 50(9) by using the periodic statement required by Article 60, the information provided in this statement needs to also fulfill the requirements of Article 50(9) and (10), i.e. it would need to be expanded.