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---
title: "ESMA Q&A 1831 — Q&A — Information on cost and charges [Answer Published]"
shortTitle: "ESMA Q&A 1831 — Q&A — Information on cost and charges [Answer Published]"
answer_id: ESMA_QA_1831
topic: "Information to clients on costs and charges"
status: "Answer Published"
type: qa
instrument_type: qa
authority: ESMA
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binding_character: non_binding
legal_status: in_force
regulation: "MiFID II"
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date: 3 October 2017
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1831
lifecycle: "Answer Published"
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---

**Answer by ESMA, published in its Q&A tool · not legislation · published 3 Oct 2017 [Answer Published]**

*Answer Published · ESMA Q&A register, 3 October 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1831)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1831 — Q&A — Information on cost and charges \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1831 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 3 October 2017; question submitted 3 October 2017 |
| **Legal basis** | MiFID II |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Information on cost and charges**

### Question

Which specific limitations to the cost transparency regime may professional clients and eligible counterparties agree on?

***

### Answer

\[ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 9, question 19\]

Article 50(1) of the MiFID II Delegated Regulation allows - in certain situations described in paragraphs 2 and 3 thereof - for a limited application of some of the detailed requirements set out in Article 50. The more limited application which needs to be agreed by the two parties should however never lead to disapplying the obligations imposed on investment firms pursuant to Article 24(4) MiFID II.

ESMA emphasizes that Article 24(4) MiFID II requires that the information provided to clients, amongst others, includes information on all costs and charges, including information relating to both investment and ancillary services, the financial instrument recommended or marketed to the client and any third-party payments. In addition, the information shall be aggregated and where the client so requests, an itemised breakdown shall be provided. The information about costs and charges shall be provided to the client in good time before the investment service is provided and, where applicable, on a regular basis, at least annually.

Recital 74 provides examples of detailed requirements which could be the object of such limited applications under article 50 of the Delegated Regulation. For instance, the investment firm could agree, at the request of the client, to not provide the illustration showing the cumulative effect of costs on return, not provide an indication of the currency involved and not provide the applicable conversion rates and costs where any part of the total costs and charges is expressed in foreign currency.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1831)