Our Investors' Agreement has been updated in line with the revised Markets in Financial Instruments Directive (MiFID II).
As a reminder, the Agreement sets out all the terms agreed between us and our clients in relation to membership and use of our platform and constitutes our Client Agreement.
The notable changes are:
- A revision to the process for Selling and Buying Issued Bonds; and clarification that UKBN administers a Bulletin Board that allows Investors the opportunity to sell their Bonds to other Investors who may wish to purchase them (Clause 9.1)
- An added emphasis on the responsibility for clients to ensure that we are in possession of up-to-date information, particularly with regard to your primary residence (Clause 4.1.6)
- Reference to a client’s right to request a different categorisation (Clause 1.4), however under MiFID II elective professional clients (for example a retail client who has opted up to professional client status) will no longer be able to “opt up another step” to eligible counterparty status.
3rd January 2018
By Steven Marshall