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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":"2016-12-16","question_submitted_on":"2016-12-16","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1816, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1816, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1816","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-1816-post-sale-reporting.md","body_sha256":"35dcca8ca0c81f9c8f90f82ab8214965cd96e9c4ae6ba67ce942460489aa2c00"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1816 — Q&A — Post-sale reporting [Answer Published]\"\nshortTitle: \"ESMA Q&A 1816 — Q&A — Post-sale reporting [Answer Published]\"\nanswer_id: ESMA_QA_1816\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: 16 December 2016\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1816\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 16 December 2016\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1816\"\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_1816: 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: \"2016-12-16\"\n  question_submitted_on: \"2016-12-16\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1816, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1816, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 16 Dec 2016 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 16 December 2016 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1816)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1816 — 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_1816 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 16 December 2016; question submitted 16 December 2016 |\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\nHow can a firm provide ex-post information on total costs and charges more regularly (e.g. on a quarterly basis)?\n\n***\n\n### Answer\n\n\\[ESMA 35-43-349 MiFID II Q&As Investor protection Ch 9, question 5\\]\n\nESMA notes that based on Article 50(9) of the MiFID II Delegated Regulation, and without prejudice to any other explicit reporting requirements (e.g. Article 60 of the MiFID II Delegated Regulation), there is only a legal obligation to provide ex-post information on costs and charges to clients on an annual basis if there is or has been an ongoing relationship with the client during the year. However, firms can choose to provide this information more regularly, which could improve the clients’ insights in the costs and charges of the investment service (based on an ongoing relationship).\n\nIf a firm chooses to provide the client with more frequent information, for instance on a quarterly basis, it should ensure the differences between the annual ex-post figures based on actual costs, and the quarterly cost figures are minimized. The firm could for instance do this by applying the same methodology when calculating the annual total costs and charges figures. Further, the firm should – where available – use realised and known ex-post cost figures.\n\nTo ensure clients are not confused by such ex-post information on costs and charges in relation to the mandatory annual costs figures, it is important that the firm informs clients on the characteristics of the ex-post information.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1816)\n"}