Background

The Markets in Financial Instruments Directive (MiFID) is the framework of European Union (EU) legislation for:
  • investment intermediaries that provide services to clients around shares, bonds, units in collective investment schemes and derivatives (collectively known as ‘financial instruments’), and 
  • the organised trading of financial instruments
MiFID was applied in the UK from November 2007, but has now been revised to improve the functioning of financial markets in light of the financial crisis and to strengthen investor protection. 

How this will affect you​
When selling shares (including those undertaken at share plan maturities and vestings), we need to collect additional personal information from employees and shareholders for dealing transactions.
​Have you received a quarterly statement from us? ​​

Under MiFID II you may also now receive quarterly statements from us. 

If you have received a statement, you can read our dedicated FAQs here. ​

MiFID II Frequently Asked Questions

  • ​This new legislation means that you may not be able to trade on your account if we don't have the information requested. 

  • ​You will need to provide your:

    • Nationality
    • Date of birth
    • National ID ​
  • For detailed information about how to complete the form if you have multiple nationalities please click here.

  • This will depend on your nationality. Please click here to view a full list of what information constitutes a National ID for each country.

  • ​For some countries, your National ID is automatically generated and therefore you are not required to provide it.

  • ​If you do not have the information you're being asked for, you can declare so online. Depending on your nationality, you may have the following choices: ​
    • Provide alternative information
    • We can generate an ID for you. However, this is limited and will only be available if permitted by your nationality
    • Unfortunately, in some cases this means you will not be able to trade

  • ​A trade is defined as the sale of shares or other securities. This also covers the sale of shares resulting from an option exercise.

  • ​You will be prompted when you first log in to your online share plan account. The information can also be collected at the point of a trade.

  • ​In some cases, your employer may have already sent us your data. If this is the case, you can verify it is correct or update it through your online account.

  • ​The information will be kept in line with our data record retention obligations.

  • ​Externally, the data will only be shown in transaction reports which we're required to produce to our reporting third parties and regulators, including the UK financial services regulator, the Financial Conduct Authority (FCA).

  • Your information will be held on our secure database and used for specific purposes. Your data will not be shared with any external parties outside of our regulatory obligations. Please refer to our data privacy statement for further information.

    We will never quote this information to you over the phone or in email correspondence.
  • Further information regarding the Markets in Financial Instruments Directive (MiFID) can be found by visiting the Financial Conduct Authority website. 
Any other questions?​

If you have any other questions about MiFID II, please contact us.

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