Regulations
| New Regulation (MiFID) | Client Categorisation | Client Order Execution | Conflict of Interests |
Dear Clients,
On 1 November 2007 the new Markets in Financial Instruments Act /MFIA/ and Ordinance No 38 of the Financial Supervision Commission on the requirements to the activities of investment intermediaries became effective. The new regulatory regime implements the provisions of Commission Directive 2006/73/ЕО implementing Directive 2004/39/ЕО of the European Parliament and of the EU Council on markets in financial instruments (MiFID), as well as the organizational requirements and operating conditions which the investment intermediaries shall comply with in order to operate.
The recently introduced legislation contributes to the harmonisation of the legislation of the Republic of Bulgaria with EU legislation in the field of financial markets, provides greater transparency regarding investment services and activities and enhances the competitiveness of the financial sector within the EU.
The new regulatory provisions oblige First Investment Bank in the capacity of investment intermediary to provide its clients with information related to:
- Client categorization - Rules on client categorization;
- Financial instruments and risks involved - General Description of Financial instruments, Investment Products and Associated Risks;
- Client orders execution and execution venues of clients' orders - Policy of First Investment Bank for client orders execution;
- Conflict of interests - The Policy for Handling Conflicts of Interest of First Investment Bank AD in the capacity of investment intermediary;
- Measures that guarantee the client financial instruments or cash - General description of the measures Fibank undertakes to guarantee the financial instruments or cash of clients and of the investor compensation or deposit guarantee schemes.
The publication of these documents on the website aims at providing the clients as well as any potential Fibank clients, with information under the provisions of Art. 15 of the Ordinance on the requirements to the activities of investment intermediaries.
Asset Management
Dimo Spasov - Director
(+359 2) 9100 106
sdimo@fibank.bg
Ivan Bonchev
(+359 2) 9100 157
invest@fibank.bg
Hristo Sugarev
(+359 2) 800 2956
hristo.sugarev@fibank.bg
