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Investor protection is getting better

The Markets in Financial Instruments Directive II (MiFID II) was introduced into UK law from 3 January 2018. What does this mean for you?


Have you provided your details?

If you are a self-directed customer of Alliance Trust Savings, we have contacted you to ask you to confirm your nationality and national personal identifier (if you are an individual) or your Legal Entity Identifier (if you are a corporate, charity or trust).

The quickest and easiest way to provide the information is through your online account if you have one by logging in and following the banner on the homepage. Alternatively you can call our Customer Service Team on 01382 573737 (lines are open Monday to Friday, 8am to 5pm, and calls may be recorded for training and monitoring purposes).

Until you supply the information we need, trading is not permitted through your Account. Currently we cannot make any regular investment or dividend reinvestment trades you have requested through your Account. If this applies to you, we are holding the relevant money in your Account until we have the information and can trade for you again..

Taking care with your investments

Being fair, honest and making sure we provide our services to you in a safe way is something we take very seriously at Alliance Trust Savings.

The Markets in Financial Instruments Directive II (MiFID II) was introduced into UK law on 3 January 2018, to improve investor protection and how investment markets work and are overseen.

We are doing our part by making some changes to the services we provide you with and the terms and conditions we provide them under.

Here you will find resources to help you understand what MiFID II means for you as a customer of Alliance Trust Savings.

Forms and Documents

If you don’t have an account online (which is the quickest and easiest way to provide us with your information) and have the lost the form we sent you, you can download a replacement here. We are sorry but we are not able to issue replacement pre-paid return envelopes. Please send your completed form(s) with the postage paid to Alliance Trust Savings, PO Box 164, 8 West Marketgait, Dundee, DD1 9YP

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If you are the registered contact
for a Junior ISA

Download form

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If you have a power of attorney over someone else and their account(s)

Download form

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If you hold an account jointly with someone else or have set up a third party authority

Download form

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If you are a corporate, charity or trust

Download form

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For all other situations

Download form

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Personal identifier reference list

Download Guide

Questions and answers


I have an online account but I’ve lost my login details. What do I do?

You can retrieve or reset these online here.

Why have you sent me a form in the post when I have an online account?

We have done this because you told us you prefer to receive statements in the post. You can login and change your statement preference to online at any time. Doing this will also save you £25 a year (the charge you currently pay us to receive paper statements).

I don’t have an online account. Can I open one now?

If you don’t have an online account at the moment you will still have to complete and return the form we have sent you in the post. To open an online account for the future, call us on 01382 573737 with a valid email address we can contact you at. We will then arrange for a Personal ID and Password to be sent to you.

I’ve received more than one form in the post from you. Why? Do I have to complete them all?

For some types of account (Junior ISA, accounts with joint holders or third party authorities on them and accounts where a power of attorney has control) we need information for more people than just the first named account holder. To keep things as simple as possible for the majority of our customers who are not affected by this, we have created separate forms in those cases. Please complete and return all the forms we send to you. You will only have to do this once.

Why do you need my nationality and national personal identifier?

Under MiFID II we’ll have to include it when we report your trades and other transactions on stock market listed securities to our regulator, the Financial Conduct Authority (FCA). The FCA already monitors all stock market transactions as part of their ongoing work to prevent market abuse. The new requirement is to provide the FCA with your nationality and your national personal identifier.

What do you mean by nationality?

We mean the country you hold a passport for (or could, if you applied for one). If you are a dual national we need details for both of your nationalities. If you have multiple nationalities we need details for the two you most frequently use. It is up to you to decide what those are. We can’t help you with this.

What do you mean by national personal identifier?

It’s what your national authorities use to identify you as an individual. If you have a UK passport it’s your National Insurance number. What we need for dual and other nationals is explained when you give us your information online, or on the paper form we sent you.

I’m a UK national and I’ve lost my national insurance number. What do I do?

First, check your payslip, P60, or letters about tax, pensions and benefits. If after checking these you still can’t find it go to www.gov.uk/lost-national-insurance-number for what to do next.

I’ve lost my national personal identifier for a country other than the UK. What do I do?

Please contact the country’s relevant national authority for what to do in these circumstances. If you are not sure how to go about doing this, the UK embassy or consulate for the relevant country may be a good place to start.

I’m acting for a corporate, charity or trust. What is a legal entity identifier?

A legal entity identifier is an internationally recognised 20 digit, alpha-numeric code that enables clear and unique identification of legal entities (such as companies, charities and trusts) participating in financial transactions. If you are not familiar with the legal entity identifier or how to obtain one, you can find the details at www.gleif.org (the website of the Global Legal Entity Identifier Foundation) and answers to frequently asked questions at www.leiroc.org (the website of the Legal Entity Identifier Regulatory Oversight Committee)

What if I don’t provide the information you’ve asked for?

From 3 January 2018 you will not be able to trade until you provide the information. That includes any regular monthly trades you have set up through our online monthly dealing service. This is because we can’t trade for you without the information we need to meet our regulatory reporting requirements. Under MiFID II we’ll have to include it when we report your trades and other transactions on stock market listed securities to our regulator, the Financial Conduct Authority (FCA).

The UK is leaving the EU – why do we have to obey these new rules?

The UK government and the Financial Conduct Authority support the aims and objectives of MiFID II in improving investor protection and how investment markets work and are overseen. The new rules are also coming into force while we are still a member of the EU, which means we are bound to comply with them.

I’ve provided this information to you before, why do you need it again?

We have to confirm it with you again to make sure our records are up to date. This is so we can be confident of meeting our regulatory reporting requirements from 3 January 2018. You will only have to do this once, unless you later change nationality. In that case you will need to confirm your new nationality at the time.

Can I give you my information after 3 January 2018?

Yes, but you won’t be able to trade through your account from 3 January 2018 until you do provide it.

Are you open over the festive period if I want to supply my information then?

Yes we will be open over the festive period other than on Christmas Day, Boxing Day and New Year’s day. If you have an online account we don’t need to be open for you to give us your information. If we sent you a form in the post we encourage you to complete and return it as soon as possible. For the majority of our customers this should be a very quick administrative task and we have supplied a pre-paid envelope so you don’t have to worry about a stamp.

What exactly will you use my information for?

We will use it to meet our regulatory requirements. We are committed to maintaining the personal information that you provide to us in accordance with the requirements of data protection / data privacy legislation. Read our data protection and privacy policy for more details. You can find this in our Terms and Conditions document.

If I’m not trading in stock market listed investments do I still have to supply the information?

Yes, because you may trade in these investments in the future. So to ensure you experience no interruption in service when you do, and that our risks are appropriately managed, we are asking all our customers to supply the information now. You will not be able to trade in any investments through your account from 3 January 2018 until you do provide it.

Does this affect regular monthly trades set up through your online monthly dealing service?

Yes. If you do not provide the information we have asked for by 3 January 2018 you will not be able to trade through your account at all until you do provide it. That includes any regular monthly trades set up through our online monthly dealing service.

Why have you asked me to supply information for other people?

The new rules mean that when we trade in a stock market listed investment on anyone’s behalf, we have to report information to our regulator about the beneficial owner of the investment and the person who instructed a trade in it, if they are different.

If you are the registered contact for a Junior ISA we need this information for the relevant child too because they are the beneficial owner, but you may instruct trades on their behalf. For similar reasons, if we are writing to you because you have a power of attorney for one of our customers we need the information for them too. We also need it for anyone else who has authority to trade through any of your accounts. That includes joint holders and anyone you have given third party authority to. In these cases we have asked you to supply the information because you are the first named account holder on the relevant account(s).

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Still have questions?

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Email: contact@alliancetrust.co.uk

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Call: 01382 573737
(lines open 8am to 5pm, Monday to Friday, and calls may be recorded for training and monitoring purposes).



Alliance Trust Savings Limited is a subsidiary of Alliance Trust PLC and is registered in Scotland No. SC 98767, registered office, PO Box 164, 8 West Marketgait, Dundee DD1 9YP; is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 116115. Alliance Trust Savings gives no financial or investment advice.