ESMA_QA_1820
Status: ✅ Answer Published
Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1820
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: Information to clients on costs and charges
Subject Matter: Post-sale reporting
Question
Submission Date: 06 June 2017
How does the investment firm obtain access to the relevant data for a financial instrument to apply the PRIIPs methodology?
ESMA Answer
Answer Date: 06-06-2017
[ESMA 35-43-349 MiFID II Q&As on Investor protection Ch 9, question 9] In order to be able to apply the PRIIPs methodology, investment firms need to have access to the relevant data from manufacturers of a financial instrument. Where a financial instrument falls within the scope of PRIIPs, the investment firm can use the publicly available PRIIPs KID to obtain the data that is relevant for its ex-ante cost disclosure. For access to any data that is relevant for its ex-post cost disclosure, and to the extent this data has not already been made publicly available by the manufacturer, an investment firm would be expected to liaise with the manufacturer of these instruments. The manufacturer should have already calculated the relevant data in order to comply with the PRIIPs regulation. Where a financial instrument does not fall within the scope of PRIIPs, the investment firm would be expected to liaise with the manufacturer of these instruments to obtain the relevant data, if the data has not already been made publicly available, on the costs and associated charges of the financial instrument that it needs to meet its obligations for both ex-ante and ex-post cost disclosure.
This document was automatically extracted from the ESMA EMIR Q&A database.