+ANNEX II

ANNEX II



ANNEX II

Costs and charges

Identified costs that should form part of the costs to be disclosed to the clients  ( 16 )



Table 1 — All costs and associated charges charged for the investment service(s) and/or ancillary services provided to the client that should form part of the amount to be disclosed

Cost items to be disclosed

Examples:

One-off charges related to the provision of an investment service

All costs and charges paid to the investment firm at the beginning or at the end of the provided investment service(s).

Deposit fees, termination fees and switching costs (1).

Ongoing charges related to the provision of an investment service

All ongoing costs and charges paid to investment firms for their services provided to the client.

Management fees, advisory fees, custodian fees.

All costs related to transactions initiated in the course of the provision of an investment service

All costs and charges that are related to transactions performed by the investment firm or other parties.

Broker commissions (2), entry- and exit-charges paid to the fund manager, platform fees, mark ups (embedded in the transaction price), stamp duty, transactions tax and foreign exchange costs.

Any charges that are related to ancillary services

Any costs and charges that are related to ancillary services that are not included in the costs mentioned above.

Research costs.

Custody costs.

Incidental costs

 

Performance fees
(1)   

Switching costs should be understood as costs (if any) that are incurred by investors by switching from one investment firm to another investment firm.

(2)   

Broker commissions should be understood as costs that are charged by investment firms for the execution of orders.



Table 2 — All costs and associated charges related to the financial instrument that should form part of the amount to be disclosed

Cost items to be disclosed

Examples:

One-off charges

All costs and charges (included in the price or in addition to the price of the financial instrument) paid to product suppliers at the beginning or at the end of the investment in the financial instrument.

Front-loaded management fee, structuring fee (1), distribution fee.

Ongoing charges

All ongoing costs and charges related to the management of the financial product that are deducted from the value of the financial instrument during the investment in the financial instrument.

Management fees, service costs, swap fees, securities lending costs and taxes, financing costs.

All costs related to the transactions

All costs and charges that incurred as a result of the acquisition and disposal of investments.

Broker commissions, entry- and exit-charges paid by the fund, mark ups embedded in the transaction price, stamp duty, transactions tax and foreign exchange costs.

Incidental costs

 

Performance fees
(1)   

Structuring fees should be understood as fees charged by manufacturers of structured investment products for structuring the products. They may cover a broader range of services provided by the manufacturer.

1. Oversigt

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1.1 Referencer

1.2 Identificerede krav

1.3 Relaterede standarder

2. Identificerede krav

Krav

3. Relaterede standarder

Standarder