Protection of investor interests (MiFID)

On 1 February 2008, Latvia fully introduced the requirements of Directive 2004/39/EC of the European Union of 21 April 2004, on markets in financial instruments (MiFID).

The main objectives of the MiFID Directive are – provision of better protection of investor interests and flawless operation of the market in financial instruments. Therefore, Citadele has introduced a number of improvements in its operation aimed at the provision of a higher degree of investor protection and improvement of procedures for the provision of investment services.

All clients of  Citadele have been assigned one of three possible statuses, taking into account their characterization, as well as experience and knowledge in transactions in financial instruments and objective of such transactions: private client, professional client or eligible counterparty. Depending on the client’s status, relevant degree protection applies. Client protection measures include, inter alia, assessment of the suitability of an investment service and compliance thereof with the client’s interests.

In order to avoid possible conflicts of interest, which may arise during the course of provision of investment services, Citadele has developed and introduced the Policy on Prevention of Conflicts of Interest in the Investment Services.

Executing transactions in financial instruments on behalf of the client, bank Citadele follows the Order Execution Policy in the Provision of Investment Services (in Latvian) (including the List of Order Execution Places in Regulated Markets), updated version effective from 3 October 2016. The abovementioned policy is brought to the attention of the Client before reception of investment services. Extensive information on Citadele and transactions in financial instruments and the risks related thereto are also being provided for the Client.

Information on Investment Services (in Latvian)
Description of the Policy on Prevention of Conflicts of Interest in the Investment Services (in Latvian)
Description of the Statuses to be Assigned to the Client (in Latvian)
On financial instruments, income from which is being received from U.S. source (18.04.2017.)
Communication on Changes to the Information on Investment Services and Non-core Services (13.07.2016) (in Latvian)