Requirement (MIFID)
Article 42 Additional reporting obligations for portfolio management or contingent liability transactions
Requirements MIFID - DIRECTIVE 2006/73/EC
Description
Description
Member States shall ensure that where investment firms provide
portfolio management transactions for retail clients or operate
retail client accounts that include an uncovered open position in
a contingent liability transaction, they also report to the retail
client any losses exceeding any predetermined threshold, agreed
between the firm and the client, no later than the end of the
business day in which the threshold is exceeded or, in a case
where the threshold is exceeded on a non-business day, the close
of the next business day.
Comment
Applies to Article 19(8) of Directive 2004/39/EC