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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":"2017-06-06","question_submitted_on":"2017-06-06","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1807, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1807, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1807","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-1807-post-sale-reporting.md","body_sha256":"9b48e5a2bcbe700c4823b626c4f83ecf07f69f145bdf8ec34b9d0b536e2514f4"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1807 — Q&A — Post-sale reporting [Answer Published]\"\nshortTitle: \"ESMA Q&A 1807 — Q&A — Post-sale reporting [Answer Published]\"\nanswer_id: ESMA_QA_1807\ntopic: \"Reporting to clients\"\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: 6 June 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1807\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 6 June 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1807\"\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_1807: 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: \"2017-06-06\"\n  question_submitted_on: \"2017-06-06\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1807, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1807, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 6 Jun 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 6 June 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1807)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1807 — Q&A — Post-sale reporting \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1807 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 6 June 2017; question submitted 6 June 2017 |\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**Post-sale reporting**\n\n### Question\n\nWhen fulfilling the obligation to report on a portfolio depreciating by the 10% threshold, on what basis should a firm calculate the 10% threshold? Should a firm continue to refer to the value of the portfolio at the beginning of the reporting period or refer to the portfolio value at the previous value that triggered the reporting obligation?\n\n***\n\n### Answer\n\n\\[ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 8, question 7\\]\n\nFirms should continue to refer to the value of the portfolio at the beginning of the reporting period to calculate the multiples of 10%.\n\nFor example, if a portfolio is valued at 100,000 at the beginning of the period, it first reports if the portfolio falls to 90,000. A second reporting requirement would occur at 80,000 and a third at 70,000 (i.e. multiples of 10% of the value at the beginning of the reporting period). If the value of the portfolio is 70 000 at the beginning of the next reporting period, a first report for that reporting period would occur at 63 000.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1807)\n"}