MiFID II Assistance

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

What is the MiFID II form (FORM 2) that is enclosed and do I need to return it?

Since 2018 Equiniti Financial Services Limited has been required, under EU and now UK law, to collect additional information relating to customers and, where relevant, additional parties. This is now required under The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.

Where a MiFID II form has been enclosed within the Verification Pack, this needs to be completed and returned with the completed Verification Form. The MiFID II 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, you will need to provide this as it 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.

 You can also download the relevant MiFID II form here - prosearchassets.com/asset-reunification/mifid-ii-forms

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

Information of the shareholder and the Power of Attorney is required 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.