This research report, after providing a general overview of the innovations introduced by Directive 2014/65 / EU (MiFID II) and of the context of the asset management industry in which it is inserted, shifts the focus on the information on costs and charges that the intermediaries are brought to present to their customers. This study, carried out between February and October 2019, analyzed the ex-ante reporting (ie before the investment, to understand which costs will be charged to the investor) and ex-post (ie in the final balance, to understand the actual costs) produced by 20 of the largest financial intermediaries operating in Italy, focused on retail customers.
Questo elaborato di ricerca, dopo aver fornito un quadro generale delle novità apportate dalla Direttiva 2014/65/EU (MiFID II) e del contesto dell’industria del risparmio gestito in cui si inserisce, sposta il focus sull’informativa costi ed oneri che gli intermediari sono portati a presentare ai propri clienti. Questo studio, realizzato tra febbraio e ottobre 2019, ha analizzato la reportistica ex-ante (ovvero prima dell’investimento, per capire quali costi saranno caricati all’investitore) ed ex-post (ovvero a consuntivo, per capire i costi effettivi) prodotta da 20 tra i maggiori intermediari finanziari operanti in Italia, focalizzati su una clientela retail.
The effects of the Directive 2014/65/EU (MiFID II) : ex-ante and ex-post information on costs and related charges
RIVA, ALESSANDRA;SAVERIO, FILIPPO
2018/2019
Abstract
This research report, after providing a general overview of the innovations introduced by Directive 2014/65 / EU (MiFID II) and of the context of the asset management industry in which it is inserted, shifts the focus on the information on costs and charges that the intermediaries are brought to present to their customers. This study, carried out between February and October 2019, analyzed the ex-ante reporting (ie before the investment, to understand which costs will be charged to the investor) and ex-post (ie in the final balance, to understand the actual costs) produced by 20 of the largest financial intermediaries operating in Italy, focused on retail customers.File | Dimensione | Formato | |
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https://hdl.handle.net/10589/150843