Personally Identifiable Information (PII) FAQs
1. What is MiFID II and why does it matter?
New legislation under the Markets in Financial Instruments Directive (MiFID) II requires financial trading providers to provide additional information to the Financial Conduct Authority (FCA).
As part of these requirements we need to confirm the nationality of each of our clients by 3rd January 2018.
In preparation for these new regulations, you will need to confirm your nationality by 8th December, 2017. Should you not provide us with this information by 3rd January 2018, you may not be able to trade on your account after this date.
2. What details do I need to provide?
We need you to confirm your nationality and may also require a state issued National Client Identifier Number (e.g. national insurance number, passport number, etc) from you based on your nationality. The easiest way to supply this is to update your account details using our safe, secure form.
The information you provide will be treated in the same, secure manner as all your other data held with us. It will not be shared publically and will only be used for our reporting purposes with the FCA.
3. What if I don’t have a National Client Identifier?
If you are unable to provide us with your National Client Identifier Number, you can declare this using our secure form by using the checkbox provided. We may need to contact you for more information at a later date.
4. What if I have more than one nationality?
For those with multiple nationalities, you will be advised on what you need to provide once you have selected your nationality/nationalities on our secure online form.
5. Why does MiFID need this information?
Under the new MiFID II regulations, financial trading providers will need to provide additional information to our regulator, the FCA (Financial Conduct Authority) when you trade with us. The information you provide us with will be treated in the same secure manner as all your other data held with us. It will not be shared publically and will only be used for our reporting purposes.
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