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MiFID II.

Information to clients

Changes in capital markets made new regulations necessary for the entire European Union The changes come into force on 3 January 2018 and affect clients and banks equally.

MiFID II (Markets in Financial Instruments Directive - Directive 2014/65/EU of the European Parliament and of the Council) covers multilevel regulation applicable to the entire European Union, the introduction of which necessitated the amendment of two significant domestic laws1 and the creation of additional sectoral regulations; several directly applicable European laws are connected to it.

In order to ensure the undisturbed operation of the IT system, our bank has decided to comply with the new requirements one day prior to the entry into force of the new regulations, i.e. from 2 January 2018, and is therefore modifying its processes and regulations accordingly.

 

Previous regulatory framework and changes

What are the most significant changes for clients?

  • Increased attention to client needs by the issuers and distributors of investment products (new Product Governance Rules).
  • Cost transparency, which makes the costs related to the purchase, sale and holding of financial instruments transparent in advance and subsequently.
  • The bank must record all relevant communications with the client.
  • More detailed information than previously regarding the risks associated with financial instruments, investment advisory services provided during the sale and the incentives received by the bank.
  • Increased coordination of trading venues and further regulations associated with the best execution of orders.

Information documents

 

1 Act CXXXVIII of 2007 on Investment Firms and Commodity Dealers and on the Regulations Governing Their Activities and Act CXX of 2001 on the Capital Market

KID-Certificates

The Key investor documents (KID) of the certificates issued by UniCredit Bank AG (Germany) are available at the website of the issuer:

https://www.onemarkets.hu

https://www.onemarkets.hu/expressplus (Express Plus products)

FX Forward

 

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