MiFID II Assistance

Here you’ll find answers to commonly asked questions about MiFID II requirements to validate your claim.

What is the MiFID II form that is enclosed and do I need to return it?

This is connected to a European and FCA Regulation called the Markets in Financial Instruments Directive (MiFID II) which came into effect on 3 January 2018. We are required to confirm some existing information and, for some customers or additional parties to shareholdings, collect extra information.

Where a MiFID II form has been enclosed within the Claim Pack, this needs to be completed and returned with the completed Claim Form. The form is used to collect information which is a regulatory requirement to help prevent fraud and market abuse.

What does MiFID II mean for me?

The aim of MiFID II is to increase transparency and prevent market abuse. Part of the changes means we will have to provide additional information to regulatory bodies about your transactions.

What happens if I do not supply the required information for MiFID II?

If we have requested the details and information, it is because we need them to complete your claim as this is a regulatory requirement. 

 

What is my National Client Identifier?

Your NCI will vary depending on your nationality.

If you have sole UK nationality and you have a National Insurance Number, your NCI will be your National Insurance Number.

If you are a non-UK national, if you have dual nationality including the UK, or if you have sole UK nationality but do not have a National Insurance Number, you will have to determine your NCI.

You can do this by completing the Nationality Calculator here - prosearchassets.com/mifid

For shareholdings in joint names, you will have to provide these details for both shareholders. 

Can I be sent another MiFID II form?

Yes, we can either post a new form to you or email you a copy to complete.

 

I am the Power of Attorney for the shareholder, what information is needed for MiFID II?

We require information about the customer and the Power of Attorney as the latter is deemed to be making the trading decision.

Do I need to provide these details to process my donation of shares?

Yes, MiFID II regulations still apply to donations of shareholdings.