MIFID II legislation update

13th December 2017

As a Financial Adviser you may be affected by the requirements to be introduced under MiFID II (the second Markets in Financial Instruments Directive).

In relation to our duties as a SIPP Operator, Embark Services Limited is not a MiFID firm, and is not a manufacturer for the purposes of MiFID II.

However, you may be considered to be a distributor depending on the products and services you provide to clients, and thus you may be required to fulfil some or all of the new requirements arising from MiFID II. This can include providing information to investment manufacturers about the distribution of instruments to the intended target market, reporting costs and charges to clients pre and post-sale and undertaking appropriateness assessments.

Should you require information from us in order to fulfil your reporting obligations we will be happy to provide what assistance we can. For example you will need to know likely costs to be able to produce the ex-ante costs and charges disclosure documentation that needs to be provided to clients before making an investment. You can find this information in our Fee Schedules here. You will also need to know the actual charges paid by the client each year to produce the ex-post charges and disclosure document. You can find these in the annual statement that we provide to each client.

If you require any further assistance, please contact our client servicing team.

< Back  |  Share:  

Comments are closed.

Cookie Settings