IT - Post Reporting Obligations of Cost and Charges
On 7 May 2020, Consob publishes a recommendation on the reporting of ex post costs and charges connected with the provision of investment and accessory services.
The initiative of Consob is done in the context of MiFID II Discipline, that requires intermediaries to provide more information transparency on the costs and charges connected with the provision of investment and ancillary services, with the purpose of providing investors with an informed evaluation of the investments made. These recommendations which derive from the general principle that all information addressed to customers must be “correct, clear and not misleading”, are aimed at allowing:
- the prompt identification, within the documents transmitted, of the disclosure on cost and charges, in all the elements considered relevant by the legislator ;
- understanding the meaning of the items on display;
- the assessment of the effective impact of the items considered;
- the reconciliation of the items shown in the analytical information with those present in the aggregated information;
- the comparison of the documents received from different intermediaries.