On 1 April 2020, EU ESMA issued advice on inducements, costs, charges disclosures.

• EU CMSN is encouraged to conduct some further analysis on the topic of inducements.
• Changes proposed to regime mainly at improving client understanding of inducements.
• Regarding costs and charges disclosure, ESMA found the MiFID II disclosure regime generally works well, and that it helps investors make informed investment decisions.
• Disclosure obligations re eligible counterparties, professional investors scaled back.
• Other elements of report relate to trading by telephone, the provision of information to clients in a durable medium and to the possibility to create new categories of clients