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MiFID II

What is MiFID II?

The original Markets in Financial Instruments Directive (MiFID) was implemented in the EU in 2007, with phase two of the legislation coming into effect on 3 January 2018.

 

Apart from increasing the scope of the original directive, MiFID II’s main aim is to strengthen investor protection, enhance transparency and provide oversight of financial markets. Despite the UK decision to leave the EU, the Financial Conduct Authority is committed to the MiFID II legislation.

MiFID II applies to all clients who buy, sell and hold investments via our London branch. In addition, Isle of Man and Jersey branch clients are in scope if they buy, sell and hold investments using a financial adviser located in the EU.

MiFID II is only concerned with certain investment activities, not day-to-day banking transactions, relating to investments including, but not limited to:

  • Shares
  • Exchange Traded Funds (ETFs)
  • Investment Trusts
  • Bonds
  • Listed Securities
  • Funds

We are required to take ‘all sufficient steps’ to achieve the best execution when buying and selling all asset classes. To evidence this we publish the details of our top five brokers in every asset class (see below). 

If you hold an account with the London branch and you use this account to buy, sell and hold financial instruments you must provide identification details. For UK nationals this is your National Insurance number. For other nationalities, and dual nationals, please see our guidance notes linked here, or download legal identifier forms from our literature downloads page.

Access the files

Nedbank Private Wealth's London branch only

Below are the annually published lists for each of the top five brokers in terms of trading volumes, for each asset class, and the associated quality of these activities for the previous year (2019), as well as for preceding years (2018, 2017).

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