Beginning January 3rd, 2017, there will be a new regulation in place called "MiFID II"- provisions of Directive of European Parliament and Council 2014/65/UE, Regulation of European Parliament and Council (UE) No. 600/2014 and related delegated acts as well as respective acts implementing the above provisions into individual countries’ legislation. The new regulation aims to ensure full protection for clients as they make investment decisions, and unify the financial instrument trading rules.

Most important MIFID II changes for Citi Handlowy clients:

  • Registration by the bank of all phone calls (including mobile phone calls), as well as other forms of communication with clients (meetings, emails);
  • Presentation of fee structure and amount, commission rates and other transactional costs and their impact on the investment return;
  • Providing of annual list of all costs and fees paid in connection with purchase, sale or storage of investment products;
  • Providing of the quarterly list of the clients’ assets and additional confirmations for the service of executing orders;
  • Introduction of reclassification of the Purchase/Sale Service into Service of executing orders into the account of the client regarding purchase or sale of Debt Securities, and Dual Currency Investments;
  • Providing more specific provisions regarding the acceptance and forwarding of monetary and non-monetary benefits – the so called “Incentives”;
  • Providing more specific provisions regarding the implemented solutions and means for conflict of interest prevention and management, adjusted to the structure of the bank;
  • Introduction of a new “Policy of executing orders and acting in the best interest of the client” that sets out the rules for the activities of the bank aiming to obtain the best possible terms and conditions of the execution of the order.

Important Documents

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