Article 54, paragraph 9, of the Delegated Regulation requires service providers to have comparison procedures for assessing fees between similar products.

Delegated Regulation 2017/565, in Articles 50 and 51, details the requirements for cost presentation. Ex-ante information must be communicated before the transaction based on reasonable estimates or actual costs if available.

Article L. 533-12-4 of the CMF requires showing the cumulative effect of costs on the return on investment. In the given example, for an estimated gross return of five percent and total fees of two percent, the net return is three percent. The impact of fees over ten years represents approximately twenty-two percent of the final capital.

Article 24, paragraph 4, of MiFID 2 imposes a transparency obligation covering all costs and charges. This information must be provided in absolute euro amounts and as a percentage of the invested amount, aggregated to allow the client to understand the total cost.

Article 314-18 of the AMF General Regulation requires the full pass-through to the client of all monetary benefits received from third parties for independent advice and portfolio management.

Inducements include retrocessions on management fees, placement commissions and transaction commissions. Costs related to the investment service include advisory commissions, discretionary management fees, etc.

Costs related to the financial instrument include not only ongoing charges (Total Expense Ratio) but also entry and exit fees, performance fees, internal fund transaction costs and incidental costs.

To retain inducements, three cumulative conditions must be met: prior disclosure to the client regarding the amount or calculation method, demonstration of an enhancement in service quality, and no adverse impact on the client's best interest.