{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2025-12-03","gaps":[],"covered":["ESMA Q&A 2708 — Q&A — Inducements [Question Rejected] L3"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"the ESMA publication"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifid-ii/level-3/q-and-a/esma/esma-qa-2708-inducements","url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-2708-inducements","title":"ESMA Q&A 2708 — Q&A — Inducements [Question Rejected]","family":"l3","work_id":"spaces/mifid-ii/level-3/q-and-a/esma/esma-qa-2708-inducements","status":"question rejected","force_status":null,"date_state":"current","requested_date":null,"as_of":"2026-11-02","applies_from":null,"application":null,"version_label":"ESMA Q&A register, 3 December 2025","check":{"against":"the ESMA publication","on":"2026-10-26"},"check_result":"matched","official_url":"https://www.esma.europa.eu/publications-data/questions-answers/2708","valid_from":"0001-01-01","valid_until":null,"revision":1,"content_id":"a68cb257d0150cce","change_date":null,"nearest_versions":["2025-12-03"],"first_text_date":null,"correction_applies":false,"versions":["2025-12-03"],"version_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-2708-inducements/versions/2025-12-03","revision_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-2708-inducements/versions/2025-12-03/rev/a68cb257d0150cce","versions_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-2708-inducements/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/level-3/q-and-a/esma/esma-qa-2708-inducements/relations","source_line":"Question published in the ESMA Q&A tool · no answer · not legislation [Question Rejected]","attribution":{"prepared_by":"not stated in the document","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_question","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"question_submitted_on":"2025-12-03","locators":{"question_submitted_on":"ESMA Q&A Excel export ESMA_QA_2708, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/2708","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-2708-inducements.md","body_sha256":"b23caef86404cd52c226419134fe56b1ca5ea6a0ed2316ed7a3a1b03a6266962"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 2708 — Q&A — Inducements [Question Rejected]\"\nshortTitle: \"ESMA Q&A 2708 — Q&A — Inducements [Question Rejected]\"\nanswer_id: ESMA_QA_2708\ntopic: \"Inducements\"\nstatus: \"Question Rejected\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: withdrawn\nregulation: \"MiFID II\"\nmifid_level3: true\nmica_level2: false\nlegal_basis: \"ESMA 35-43-349 Q&A\"\ndate: 3 December 2025\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/2708\nlifecycle: \"Question Rejected\"\ntext_version: \"ESMA Q&A register, 3 December 2025\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/2708\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"not stated in the document\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA_QA_2708\"\n    locator: \"ESMA Q&A entry ESMA_QA_2708: no answer; no author named\"\ndocument_type: \"qa_question\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  question_submitted_on: \"2025-12-03\"\n  locators:\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_2708, column 'Date of submission'\"\nlifecycle_label: \"Question Rejected\"\n---\n\n**Question published in the ESMA Q&A tool · no answer · not legislation [Question Rejected]**\n\n*Question Rejected · ESMA Q&A register, 3 December 2025 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/2708)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 2708 — Q&A — Inducements \\[Question Rejected\\] |\n| **Prepared by** | Not stated in the document |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_2708 |\n| **Document type** | Q&A |\n| **Legal nature** | No answer · not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Question submitted 3 December 2025 |\n| **Legal basis** | ESMA 35-43-349 Q&A |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Inducements**\n\n### Question\n\nWhen an investment firm pays a third party (e.g law firms, accounting firms) any commission in connection with the provision of an investment service or ancillary service to the client must ensure that all the conditions set out in Article 24(9) of Directive 2014/65/EU and requirements set out in paragraphs 2-5 are met at all times. One of the requirements is that the fee and commission shall be considered to be designed to enhance the quality of the relevant service to the client if it is justified by the provision of an additional or higher level service to the relevant client, proportional to the level of inducements received. Which is responsible to enhance the quality of the relevant service to the client? The investment firm or the third party (e.g the law firms, the accounting firms)\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/2708)\n"}