Requirement (MIFID)
Article 33 Information about costs and associated charges
Requirements MIFID - DIRECTIVE 2006/73/EC
Description
Description
Member States shall require investment firms to provide their
retail clients and potential retail clients with information on costs
and associated charges that includes such of the following
elements as are relevant:
(a) the total price to be paid by the client in connection with
the financial instrument or the investment service or
ancillary service, including all related fees, commissions,
charges and expenses, and all taxes payable via the
investment firm or, if an exact price cannot be indicated,
the basis for the calculation of the total price so that the
client can verify it;
(b) where any part of the total price referred to in point (a) is to
be paid in or represents an amount of foreign currency, an
indication of the currency involved and the applicable
currency conversion rates and costs;
(c) notice of the possibility that other costs, including taxes,
related to transactions in connection with the financial
instrument or the investment service may arise for the
client that are not paid via the investment firm or imposed
by it;
(d) the arrangements for payment or other performance.
For the purposes of point (a), the commissions charged by the
firm shall be itemised separately in every case.
Comment
Applies to fourth indent of Article 19(3) of Directive 2004/39/EC