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MiFID Implementation in AKCENTA

On 3 January 2018, Directive 2014/65/EU (known as MiFID II), which contains a number of changes to enhance customer protection, improve transparency and provide more detailed information on trades. AKCENTA has introduced a number of measures that are in compliance with such requirements; please find a brief summary of the most significant changes below. A detailed description, including further changes, is provided in the Information brochure, which can be downloaded here.

Target market assessment – test of product suitability for the customer

AKCENTA tests the suitability of products offered to its customers. To fulfil these requirements, we will contact you with new investment questionnaires in the near future. The objective is to raise awareness of potential risks related to investment services for non-professional customers in particular and to thereby ensure them additional protection.

Fulfilment of instructions under the best conditions and in the customer’s best interests

AKCENTA has set forth rules aimed at ensuring that each of the client’s individual instructions is carried out under the best conditions and that instructions are systematically carried out under the best conditions, in a fair, just and professional manner and in the customer’s best interests.

Information on any decrease in the portfolio value

AKCENTA informs its customers of the performance of their portfolios. In particular, in the event that the current market value of the portfolio decreases by 10%, 20% or 30% etc. of its value, the customer will receive information on the change in the portfolio value; this information will be provided no later than by the end of the relevant business day.

Management of conflict of interests

AKCENTA has set out rules and mechanisms to prevent any conflict of interests. In order to prevent any conflict of interests, AKCENTA has created an appropriate organizational structure with inspection mechanisms ensuring separation of incompatible roles and guaranteeing that conflicts of interests are prevented.

Information on costs and related fees

All costs and related fees charged to the customer for investment services or complementary services which should be communicated are based on Annex II to Regulation (EU) 2017/565. At the customer’s request, AKCENTA will provide this information before a particular trade is agreed (specific amounts of costs and fees) and will then provide it itemized in the file “Information/Mandatorily published information pursuant to MiFID” in OLB.

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