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).
Please provide this information as soon as you can through your account online (if you have one) or by completing and returning the form we have sent to you.
If you don’t do this, from 3 January 2018 the new MiFID II rules mean 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 and dividend reinvestments.
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) is being introduced into UK law from 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.
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
If you are the registered contact
for a Junior ISA
If you have a power of attorney over someone else and their account(s)
If you hold an account jointly with someone else or have set up a third party authority
If you are a corporate, charity or trust
For all other situations
If you have not provided us with your NPI/LEI by 3rd January 2018, you will not be able to trade through your account until you do provide it. You can provide us with your NPI/LEI by logging into your account following the banner link on the client summary screen or by contacting us by telephone, email or letter via the contact details provided at the bottom of this page.
If you have not provided us with your NPI/LEI by 3rd January 2018, you will not be able to trade through your account until you do provide it. This also affects any regular income instructions you have set up and you may not receive your income until you do provide us with your NPI/LEI.
The quickest way to provide us with your NPI/LEI is by logging into your account and following the banner link on the client summary screen. Alternatively you can contact us by email, telephone or post by using the details provided at the bottom of this page.
You can retrieve or reset these online here.
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).
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.
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.
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.
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.
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.
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.
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.
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)
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 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.
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.
Yes, but you won’t be able to trade through your account from 3 January 2018 until you do provide it.
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.
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.
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).
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.