What is MiFid II ?

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MiFID II is the revised Markets in Financial Instruments Directive that will apply as of 3 January 2018. It reinforces current legislation by strengthening investor protection and transparency.


Improved information • You will receive precise information about the services and financial instruments offered so that you can take informed investment decisions • All investment advice service will come with a suitability report of your portfolio with respect to your retained investment strategy and risk profile.

More transparency • News and simplified tariffs applicable • Receive additional periodical information about the chosen investment service • Market abuse prevention by our reporting of all financial instruments transactions to the regulator by name.

Better investment protection • News and more in-depth investor profile test • Our reinforced daily surveillance risk monitoring of the suitability of your portfolio with your investor profile • Our verification of the appropriateness of the financial instruments and target market • Enhanced vigilance and control from an improved European market structure and new rules.


Appropriate levels of protection according to client categorisations. The regulation defines three categories of clients: • Retail clients  These clients do not belong to one of the two categories below. They have the highest level of protection • Professional clients. These are large companies that meet criteria in terms of balance sheet size, turnover and/or own funds. They have the required expertise to make their own investment decisions. As a result, they have an intermediate level of protection • Eligible counterparties. These are financial institutions and their counterparties, such as partner banks or insurance companies. They have the lowest level of protection.

Knowing you better The questions of the appropriateness test were extended in order to determine your knowledge of financial instruments and your market experience more accurately. The suitability test was extended to improve our assessment of your personal situation, your risk tolerance and your ability to bear possible losses. Our aim is to offer you advice that perfectly suits your profile. Based on this information, we define your target market. This new concept introduced by MiFID II, requires product manufacturers to specify for each instrument produced what type of investor it is intended for. As a distributor, it is   our role to verify that the target market of each instrument corresponds to your profile.

Serving you better According to your level of involvement in the management of your investments and the relationship that you wish to develop, you can choose among three types of services: • Discretionary portfolio management. With this service, you entrust the management of your portfolio to the Bank, which will make investment decisions  in your name • Investment advice. This service provides you with personalised recommendations on transactions in financial instruments • Trade execution. With this service, you can execute orders in financial instruments on your own initiative.


Investors who already benefit from a management/advisory service during your next visit, your advisor will ask to update your profile, and a new contract will be signed. Future clients We provide you with information about the structure and the functioning of our bank, the range of services and  financial instruments that we offer as well as our execution policy. A contract corresponding to the chosen investment service will be signed. Prior to making any investment, you will receive an illustration of the costs and fees and their impact on the performance of your portfolio.

More interaction We have enriched our communication by introducing new reports and have increased the publication frequency of existing reports.


The MiFID II regulation that will come into force on 3 January 2018 aims to: • strengthen investor protection, • increase investor transparency, • strengthen corporate governance and internal control frameworks, • improve the structure of financial markets.

As a result of these regulatory measures, we have set up a range of appropriate and value added solutions to provide you with the best possible quality investment service.