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ESMA Q&A 1808 — Q&A — Post-sale reporting [Answer Published]
Financial servicesLevel 3Q&AMiFID IIAnsweredOfficial source
Post-sale reporting
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.
Source: ESMA original document