Market in Financial Instruments Directive (MIFID) and other Regulatory Disclosures
|Brexit update: any reference to EU legislation or requirements in the below linked documents should be read as a reference to the EU requirement and/or its UK equivalent, where applicable, and as the context requires.|
As of 7 March, 2018 BNP Paribas UK Limited is no longer authorised or regulated by the Financial Conduct Authority.
Markets in Financial Instruments (MiFID II)
On 3rd January 2018, the Markets in Financial Instruments Directive II (Directive 2014/65/EU, “MiFID II”), came into force. MiFID II comprises a recast directive and a regulation (MiFIR) which together significantly enhance the structure set out by MiFID I for the provision of investment services and activities in Europe. MiFID II strengthens the framework of investor protection, reduces the systematic risks in market structures and increases the transparency and efficiency of financial markets.
Below, there are several factsheets available to help you navigate those changes as well as BNP Paribas Global Markets Procedures.
|RTS27 Report on Quality of Execution|
|Link to RTS 27 Reports|
Swiss Financial Services Act (FinSA)
The Swiss Financial Services Act (“FinSA”) entered into force on 1 January 2020. The primary purpose of FinSA is to strengthen client protection. It also aims at creating uniform competitive conditions for financial service providers and therefore to enhance the reputation and competitiveness of Switzerland as a financial center.
Under the FinSA, in relation to our Corporate and Institutional Banking services, BNP Paribas S.A. and BNP Paribas Arbitrage S.N.C. are considered to be Financial Service Providers as defined under Article 3 (d) FinSA and, as a result, are required to implement certain rules of conduct and organisational measures.
The FinSA factsheet below provides Swiss clients with information pursuant to Article 8 and seq. FinSA.
BNP Paribas (Suisse) SA has published its own information notice for the purposes of FinSA which is available here: Information Notice from BNP Paribas (Suisse) SA Corporate and Institutional Banking (CIB) in the context of FinSA