ESMA_QA_1812

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1812

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Regulatory Context

Regulation : MIF2

Level 1 Regulation: Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Reporting to clients

Subject Matter: Post-sale reporting

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Question

Submission Date: 23 March 2018

For the purpose of Article 62(1) of the MiFID II Delegated Regulation, if the same threshold is exceeded again and again during the same reporting period, should the firm report the fact to the client each time the threshold is exceeded?

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ESMA Answer

Answer Date: 23-03-2018

[ESMA 35-43-349 MiFID II Q&As Investor protection Ch. 8, question 12] No, ESMA’s view is that no new information is needed for the purpose of Article 62(1) of the MiFID II Delegated Regulation if no new threshold is exceeded during the same reporting period.    EXAMPLE: 

Date  Value of the portfolio  Change in value of the portfolio   Obligation to report (in line with Article 62(1) of the MiFID II Delegated Regulation?  

3 Jan 2018  100,000 €  -  - 

10 Jan 2018  90,000 €  Depreciation of 10%  Obligation to report 

25 Jan 2018  92.000 €  Increase of 2%  No obligation to report 

27 Jan 2018  89,000 €  Additional depreciation of 3%  No obligation to report

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This document was automatically extracted from the ESMA EMIR Q&A database.