MiFID II: Seven key implications for asset and wealth managers
By , 5 Jun 15
EY’s seven ways MiFID II will affect asset and wealth managers
5) Product costs and charges
MiFID II requires firms to disclose costs and charges to retail clients as a percentage and also as a monetary amount.
For investment services and financial instrument sales, firms must disclose:
- One-off charges;
- Ongoing charges;
- Transaction costs;
- Charges for ancillary service; and
- Incidental costs
