FundAssist MiFID II – Ex-Post Costs and Charges Disclosure

What is the regulatory requirement?

Under Article 50 of the MiFID II Delegated Regulation, an investment firm is obliged to “provide annual ex-post information about all costs and charges related to both financial instruments and ancillary services where they have recommended or marketed the financial instruments, or, where they have provided the client with the KID/KIID in relation to the financial instrument and they have or had an ongoing relationship during the year.”

How can FundAssist help?

Our proprietary Ex-Post Costs and Charges Solution ensures investment firms meet their regulatory obligation and deliver the Ex-Post statement to investors ahead of April 2019.

Contact us today to request more information about how we are helping investment firms across Europe manage these regulatory requirements.

Our end to end solution allows your firm to;

• Aggregate and process investor and product data
• Identify and gather the underlying product cost information from the market
• Calculate personalised ex-post cost information using the reduction-in-yield (RIY) methodology and produce end investor statements

This automated, straight through process ensures investment firms like yours to meet their regulatory obligations and deliver the Ex-Post statement to investors ahead of April 2019.

When does the regulation come into effect?

MiFID II came in effect on the 3rd of January 2018. The first Ex-Post Costs & Charges Disclosure Statement must be delivered to investors no later than April 30th 2019.

Who does the regulation impact?

The onus on the provision of the documentation falls with the investment firm who is the distributor of the financial product or service to the end investor. This could be any of the below;

• Platforms
• Wealth managers
• Discretionary managers
• Segregated & separate account providers
• Fiduciary account managers
• Robo advisors
• Intermediaries
• IFAs
• Some fund manufacturers

How does the regulation impact them?

Investment firms subject to this part of Article 50 will need to;

• Identify and gather the data required
• Aggregate, validate and process the data
• Calculate the personalised cost information for each investor
• Produce the ex-post costs and charges disclosure statement
• Distribute the statement to each investor

Why FundAssist ?

At FundAssist we utilise our technology, experience and regulatory expertise to deliver robust regulatory support solutions. Our multi-regulatory solution enables our clients to satisfy their regulatory requirements in the most operationally and cost efficient way.

Our proprietary MiFID II Article 50 Ex-post Solution will aggregate and process investor and product data, calculate personalised ex-post cost information using the reduction-in-yield (RIY) methodology and produce end investor statements. This highly automated, straight through process ensures investment firms meet their regulatory obligation and deliver the Ex-Post statement to investors ahead of April 2019.

We also help our clients identify and gather the underlying product cost information from the market.