MiFID II
The Markets in Financial Instruments Directive (MiFID) has been applicable across the European Union since November 2007. It is a cornerstone of the EU's regulation of financial markets, seeking to improve the competitiveness of EU financial markets by creating a single market for investment services and activities and to ensure a high degree of harmonized protection for investors in financial instruments.
Following the financial crisis of 2008, European legislators adopted an amendment to MiFID I, including a revised Directive and a new Regulation, together referred to as MiFID II. MiFID II takes into account the evolution of financial markets and addresses the weaknesses revealed by the implementation of MiFID I. MiFID II further extends the requirements of MiFID I, with the aim of making financial markets more efficient, resilient, and transparent, as well as enhancing investor protection. MiFID II results in a large number of requirements, both for NEOP Bank Group (hereinafter “NEOP Bank”) and for NEOP Bank’s external interactions with its clients.
Following the financial crisis of 2008, European legislators adopted an amendment to MiFID I, including a revised Directive and a new Regulation, together referred to as MiFID II. MiFID II takes into account the evolution of financial markets and addresses the weaknesses revealed by the implementation of MiFID I. MiFID II further extends the requirements of MiFID I, with the aim of making financial markets more efficient, resilient, and transparent, as well as enhancing investor protection. MiFID II results in a large number of requirements, both for NEOP Bank Group (hereinafter “NEOP Bank”) and for NEOP Bank’s external interactions with its clients.
What does it mean for NEOP clients?
MiFID II affects the way that NEOP Bank does business with its clients. Where MiFID I already required the categorization of clients reflecting various investor profiles, MiFID II has extended most investor protection requirements to apply across all categories of clients. MiFID II also requires NEOP Bank to ensure that all information, including marketing communications provided to clients or potential clients, is fair, clear, and not misleading, and that marketing communications are clearly identified as such, thereby ensuring enhanced client protection.
Please find in the "downloads" section of this page NEOP Bank’s primary MiFID II-related compliance documents and policies, including our MiFID II brochure, which provides further details on the specific areas where MiFID II impacts clients.
Please find in the "downloads" section of this page NEOP Bank’s primary MiFID II-related compliance documents and policies, including our MiFID II brochure, which provides further details on the specific areas where MiFID II impacts clients.
Cost Disclosure
MiFID II and the Delegated Regulation require NEOP Bank to provide appropriate information in good time to clients or potential clients with regard to all costs and related charges. The obligation applies “ex-ante” (pre-transaction) and “ex-post” (post-transaction, on at least an annual basis).
Please note that NEOP Bank prepares annual overviews of “ex-post” costs in relation to client transactions. Should you wish to obtain a copy of your annual overview, please reach out to your NEOP Bank Relationship Manager.
Please note that NEOP Bank prepares annual overviews of “ex-post” costs in relation to client transactions. Should you wish to obtain a copy of your annual overview, please reach out to your NEOP Bank Relationship Manager.
Questions? Please contact support.