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published 21 Dec 2020 [Answer Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2020-12-21","question_submitted_on":"2020-12-21","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1118, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1118, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1118","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-1118-information-on-cost-and-charges.md","body_sha256":"98272148f01d56acef91839f3eccd46583c708197e6c3b9104491798d0c8c57a"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1118 — Q&A — Information on cost and charges [Answer Published]\"\nshortTitle: \"ESMA Q&A 1118 — Q&A — Information on cost and charges [Answer Published]\"\nanswer_id: ESMA_QA_1118\ntopic: \"Information to clients on costs and charges\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFID II\"\nmifid_level3: true\nmica_level2: false\nlegal_basis: \"MiFID II\"\ndate: 21 December 2020\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1118\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 21 December 2020\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1118\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1118: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2020-12-21\"\n  question_submitted_on: \"2020-12-21\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1118, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1118, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 21 Dec 2020 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 21 December 2020 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1118)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1118 — Q&A — Information on cost and charges \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1118 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 21 December 2020; question submitted 21 December 2020 |\n| **Legal basis** | MiFID II |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Information on cost and charges**\n\n### Question\n\nHow can firms present ex-post costs and charges information to clients in a fair, clear and not misleading manner in accordance with Article 24(3) of MiFID II?\n\n***\n\n### Answer\n\n\\[ESMA35-43-439 Investor protection Cost and charges Q&A 33\\]\n\nIn ESMA’s view, to facilitate the understanding of ex-post costs and charges information by clients (especially retail), in line with the general obligation according to which information addressed to clients shall be fair, clear and not misleading, it should be presented:\n\nthrough a standalone document (which could still be sent together with other periodic documents to clients); or\n\nwithin a document of wider content, provided that it is given the necessary prominence to allow clients to find it easily.\n\nIn the latter case, the section on ex-post costs and charges information could, for example, be placed at the beginning of the document with a clear explanatory title and clients’ attention drawn to it also graphically (e.g. through the use of appropriate fonts). Ex-post information on costs and charges should also not be mixed with other information or marketing communications included in that wider document, so that clients can focus on its contents.\n\nWhere a breakdown of aggregated figures is provided (at the client’s request), it is important that the consistency of the overall ex-post disclosure presented is ensured so that clients are in the position of easily reconciling aggregated figures with their itemised breakdown referring to the same reporting period (both for cash amounts and percentages). Any discrepancies (typically with regard to percentages) should be clearly explained and justified.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1118)\n"}