You can find detailed information on the regulatory framework governing the provision of the Bank’s Investment Products and Services.
a. What is MiFiD ΙΙ
The Bank provides investment and ancillary services under Directive 2014/65/EU of the European Parliament of 15 May 2014 in reference to the Financial Instruments (MiFiD II) and the European Financial Instruments Markets Regulation 600/2014 (MiFIR).This Directive seeks to strengthen investor protection and improve efficiency as well make the financial markets more resilient and transparent.
MiFID II increased the requirements of the MiFID I directive by extending the former’s scope to other financial instruments, trading venues and extending it to non –MiFiD I regulated activities /markets to enhance transparency and protect the investors.
MiFiD II has been transposed into Cyprus Law by the Investment Services and Activities and Regulated Markets Act of 2017 (Law 87(I) 2017) which is in force from 3
rd of January 2018.
b. Investment Services
Based on MiFiD II ,the Bank has been authorized by the Central Bank of Cyprus (CBC) for the following Services:
Investment Services:
- Receiving and Transmitting orders relating to one or more Financial Instruments.
- Execute Orders on behalf of customers
- Conducting transactions on own account
Ancillary Services:
- Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management and excluding maintaining securities accounts at the top tier level
The Investment Services offered by the Bank do not include the provision of advisory services and portfolio management.
c. General Financial Information for the Target Market
The information gathered by the Bank for the provision of investment services in the reception, transmission and execution of orders does not give the bank the possibility to carry out a comprehensive check of clients to include them into its target market of a specific financial instrument. There is no obligation on behalf of the Bank to include the client in the identified target market of the specific Financial Instrument and notifies the customer expressly only of the target market of each category of Financial Instruments, i.e. the specific parameters that identify the specific target market, in order for the Client to become aware of it.
MIFID II – Documents
d. Contact Us
Please contact a qualified customer service officer at any one of the following Alpha Bank branches if you wish to participate in a mutual fund
Alpha Bank Cyprus Ltd