Financial, Stock Exchange, Investment Services,
Mifid2, the second version of the European directive on the provision of investment services
MIFID2: CONSOB STARTS A CONSULTATION WITH THE MARKET ON THE TRANSPARENCY OF THE INVESTMENT SERVICES COSTS
Consob has started a consultation with the financial market in view of a “Recommendation on the ex post reporting methods of costs and charges connected with the provision of investment and accessory services”.
The regulation of disclosure to customers on the costs and charges associated with the provision of investment and accessory services represents one of the areas of greatest innovation and operational impact of Mifid2, the second version of the European directive on the provision of investment services. .
The aim is to ensure that investors are aware of all the costs and charges for evaluating investments, also with a view to comparing services and financial instruments.
In order to align the intermediaries’ compliance with the relevant provisions and to protect, in this way, the right of investors to receive clear, correct and not misleading information from service providers, the need arose to formulate recommendations with reference to the obligation to report ex post the costs and charges incurred by customers.
Consob’s indications, to be considered starting from the preparation of the next reports relating to the year 2019, concern the structure and content of the aggregated information, the relationship between aggregate and analytical information, the timing of sending the reporting.
February 24, 2020
Consob source
