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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_1845, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1845, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1845","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-1845-information-on-cost-and-charges.md","body_sha256":"ded6daba9bf96b42293811dcfaeaabf52c6535a0c874e465a5cbd2f354a03ac2"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1845 — Q&A — Information on cost and charges [Answer Published]\"\nshortTitle: \"ESMA Q&A 1845 — Q&A — Information on cost and charges [Answer Published]\"\nanswer_id: ESMA_QA_1845\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/1845\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 4 December 2019\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1845\"\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_1845: 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_1845, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1845, 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/1845)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1845 — 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_1845 |\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\nWhen providing portfolio management, how does the investment firm’s obligation to provide ex-post aggregated costs and charges information under Art. 50(9) of the MiFID II Delegated Regulation relate to existing reporting obligations under Article 60 of the same Regulation?\n\n***\n\n### Answer\n\n\\[ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 9 , question 32\\]\n\nIn accordance with Article 50(9) of the MiFID II Delegated Regulation, firms may choose to provide annual aggregated ex-post information on total costs and charges “together with any existing periodic reporting to clients”.\n\nIn the case of portfolio management, Article 60 of the MiFID II Delegated Regulation also applies.\n\nSo, if a firm decides to fulfil its ex-post costs and charges disclosure obligations under Article 50(9) by using the periodic statement required by Article 60, the information provided in this statement needs to also fulfill the requirements of Article 50(9) and (10), i.e. it would need to be expanded.\n\nIn addition, if a firm complies with its obligations under Article 50(9) of the MiFID II Delegated Regulation together with its obligations under Article 60, and the periodic statement due under Article 60 is provided on a quarterly basis (or more frequent, e.g. monthly), the firm is not exempted from providing the client with a full picture of the costs and charges incurred for the whole year in accordance with the requirements of Article 50(9). This means that, although more frequent costs information (e.g. quarterly or monthly) may be provided, the client should also be provided with costs information aggregated on an annual basis.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1845)\n"}