ESMA · ESMA_QA_1808 Answer Published
Post-sale reporting
- Regulation
- Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
- Topic
- Reporting to clients
- Submitted
- 2017-10-03
- Answered
- 2017-10-03
Question
Article 62(2) of the MiFID II Delegated Regulation states “…Reporting under this paragraph should be on an instrument-by-instrument basis, unless otherwise agreed with the client…What kind of flexibility could be allowed by such an agreement with clients?
Answer
[ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 8, question 8] Under Article 62(2) the MiFID II Delegated Regulation, investment firms should have the possibility to agree with their clients on the possibility to assess the 10 % depreciation on a aggregated basis, for example: on the overall value of the portfolio, as required under Article 62(1) the MiFID II Delegated Regulation; on the global value of all leveraged financial instruments or contingent liability transactions in the client’s portfolio. In any case, the client should give his/her express consent to assess the 10% depreciation on an aggregated basis and the client should have the capacity to terminate it at any time.
This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
Similar Q&As
More Q&As on this topic
📋 Track EU financial regulation continuously
Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.
14-day free trial. No credit card required.