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published 4 Dec 2019 [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":"2019-12-04","question_submitted_on":"2019-12-04","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1844, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1844, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1844","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-1844-information-on-cost-and-charges.md","body_sha256":"b4ad5571ce0b6a231cadf051116a81e69747f6074514393b8ba63f79b7c934d3"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1844 — Q&A — Information on cost and charges [Answer Published]\"\nshortTitle: \"ESMA Q&A 1844 — Q&A — Information on cost and charges [Answer Published]\"\nanswer_id: ESMA_QA_1844\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: 4 December 2019\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1844\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 4 December 2019\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1844\"\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_1844: 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: \"2019-12-04\"\n  question_submitted_on: \"2019-12-04\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1844, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1844, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 4 Dec 2019 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 4 December 2019 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1844)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1844 — 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_1844 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 4 December 2019; question submitted 4 December 2019 |\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 should the ex-post costs and charges disclosure requirements be applied to the service of portfolio management?\n\n***\n\n### Answer\n\n\\[ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 9, question 31\\]\n\nIn accordance with Article 50(9) of the MiFID II Delegated regulation, firms shall provide annual ex-post information about all costs and charges related to both the financial instrument(s) and investment and ancillary service(s) where they have recommended or marketed the financial instrument(s) or where they have provided the client with the KID/KIID in relation to the financial instrument(s) and they have or have had an ongoing relationship with the client during the year. For the investment service of portfolio management, Article 50(9) applies (please see Q&A 15.1).\n\nFor annual ex-post costs and charges disclosures, firms are expected to provide ex-post cost information (service costs, inducements and product costs) aggregated at least at the level of the portfolio (similar to the approach to the ex-ante cost disclosure, please see Q&A 24). Firms should inform their clients that they can request an itemised breakdown, as per Article 24(4) of MiFID II.\n\nIn addition, firms may provide more granular information per category of products with the same cost structure or even per financial instrument (on an ISIN basis).\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1844)\n"}