Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
Disclosure of costs and charges under Article 24 MiFID II
Journal of Securities Operations & Custody,
10
(1),
18-28
(2018)
Abstract
The disclosure of costs and charges ( frequently labelled cost transparency), that is, the obligation of financial institutions to inform potential investors of the expected costs of an investment in a financial instrument, is one of the many complex and difficult issues of Markets in Financial Instruments Directive II (MiFID II). It requires estimating and predicting future costs, often within the framework of client-specific fee models. The outcome will have a significant impact on customer interaction and on the sales process for financial products. This paper discusses both the technical challenges and the business implications of the implementation of cost transparency.
Keywords: MiFID II; costs and charges; cost transparency; investor protection
The full article is available to subscribers to the journal.
Author's Biography
Wolfgang Göb is Head of Business Development at Software Daten Service Gesellschaft mbH and is responsible for the development of the company’s product portfolio. Wolfgang holds a PhD in physics from the University of Vienna. He has worked in the software industry for the financial sector since 2000. Over the past few years, he has led numerous development initiatives for standard software around securities settlement, asset servicing and custody, as well as regulatory-driven products around topics such as Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS), Qualified Intermediary (QI), Markets in Financial Instruments Directive II (MiFID II) and Market Abuse Directive/Market Abuse Regulation (MAD/MAR).
