MIFID General Information
MiFID is an acronym that stands for the Markets in Financial Instruments Directive, which is made up of three legal acts:
Dyrektywa 2004/39/WE Parlamentu Europejskiego i Rady z dnia 21.04.2004 r.
Dyrektywa Komisji 2006/73/WE z dnia 10 .08.2006 r.
Rozporządzenie Komisji (WE) nr 1287/2006 z 10.08.2006 r.
The purpose of the aforementioned EU legal acts is to protect the clients of investment firms that are obligated to treat their clients honestly, fairly and professionally in accordance with their clients’ best interests. The information an investment firm provides to its clients should be accurate, not evince any doubt and not be misleading. In addition, information pertaining to financial instruments and proposed investment strategies should comprise the pertinent guidelines and warnings about the risk associated with investing in these instruments.
MIFID in Poland
The Polish legal regulations incorporating the requirements of the MiFID Directive comprise the following legal acts:
Financial Instruments Trading Act of 29 July 2005 (consolidated text: Journal of Laws of 2016, Item 1636, as amended),
Finance Minister’s notice of 19 May 2015 on the publication of the consolidated text of the Finance Minister’s Regulation on the procedure and conditions for the operation of investment firms, banks referred to in Article 70 Section 2 of the Financial Instruments Trading Act and custodian banks (Journal of Laws of 2015, Item 878)
Finance Minister’s Regulation of 16 December 2015 amending the Regulation on the procedure and conditions for the operation of investment firms, banks referred to in Article 70 Section 2 of the Financial Instruments Trading Act and custodian banks (Journal of Laws of 2016, Item 26)
Development and Finance Minister’s Regulation of 25 April 2017 to determine the detailed technical and organizational conditions for investment firms, banks referred to in Article 70 Section 2 of the Financial Instruments Trading Act and custodian banks (Journal of Laws of 2017, Item 855)
Development and Finance Minister’s Regulation of 25 April 2017 on the internal capital, risk management system, supervisory assessment program, supervisory monitoring and evaluation and remuneration policy in a brokerage house (Journal of Laws of 2017, Item 856)
MIFID Polityka Vestor DM
Below are the documents implemented in Vestor Dom Maklerski (formerly DI Investors) under the MIFID Directive. Please familiarize yourself with the following documents:
Information about the investment firm,
Dom Maklerski Vestor S.A.’s rules and regulations for offering securities,
Policy on client classification, scope of protection granted to retail client groups and rules for assessing the suitability of certain categories of services rendered by Dom Maklerski Vestor S.A.,
Polityka klasyfikacji klientów
Rules and regulation on managing conflicts interest in Vestor Dom Maklerski S.A.,
Regulamin zarządzania konfliktami interesów
Policy on remunerating persons occupying management positions and members of the corporate bodies in Vestor Dom Maklerski S.A.,
Description of financial instruments: equities
Vestor DM charakterystyka IF – akcje
Description of financial instruments – bonds
Vestor DM charakterystyka IF – obligacje
Description of financial instruments – structured products
Vestor DM charakterystyka IF – produkty strukturyzowane
Description of financial instruments – investment certificate