Regulations

Welcome to this section dedicated to compliance and legal publications.

Markets in Financial Instrument Directive II (MiFID II)

MiFID II entered into force on 3 January 2018 and BNP Paribas has paid specific attention to this historical launch. As a custodian, this is the first time we are facing such a wide-ranging directive, with many impacts across commercial, operational and functional teams.

In a nutshell

The European Markets in Financial Instruments Directive (“MiFID II”) represents a very important change in financial markets, even if its implementation applies as a continuation of MiFID I.
This new directive will ensure greater investor protection,  expanded asset class coverage and structural market reforms. It is applicable for firms previously exempted from MiFID I. MiFID II will dramatically change almost the entire marketplace, with far-reaching impacts on everyone engaged in the dealing and the processing of financial instruments.

BNP Paribas responsibilities

Under the Markets in Financial Instruments Regulation (“MIFIR”) adopted in 2014 and applicable as of 3 January 2018, one of the changes being made to the MIFID I directive includes additional requirements for investment firms regarding the provision of information to clients.

As such, BNP Paribas is required to provide information to its clients about the bank and its services.

We sent a Disclosure Pack to all clients with general content about this directive. It is completed with a customised communication pack including the client classification and details on our complaints handling process at each location level.

  • For further information on the communication pack, please contact your relationship manager
  • For further information on our publications related to EXECUTION AND SELECTION POLICY or the SAFEGUARDING OF ASSETS, please click here
  • For further information related to our CONFLICT OF INTEREST POLICY, please click here

MiFID II – Execution and Selection policy

Search report publication

The purpose of this policy is to provide our clients with information on the arrangements implemented by Securities Services to manage the transmission and the execution of client orders as required by the revised European Markets in Financial Instruments Directive 2014/65/EU and its implementing measures as transposed into national laws and regulations (“MiFID II”), to the extent applicable.

This section contains the global Execution and Selection policy together with specific exhibits providing further details on each product and on our selection policy.

  • Agency Cash Investment
    • GB – Execution and selection policy, exhibit 1E – Agency cash investment – Download the document
    • FR – Politique d’exécution et de selection, annexe 1E – Politique d’investissement de liquidites pour le compte de clients – Télécharger le document

MiFID II – Safeguarding of Assets

Safeguarding of assets: list of affiliated and non-affiliated subcustodians – Download the document