Dear clients
As of 1 July 2008, an amendment to Act No. 256/2004 Coll., on Capital Market Undertakings (hereinafter just the "Act"), came into effect. In accordance with this amendment to the Act, the Bank has adjusted its rules for dealing with clients to whom the Bank provides investment services. The primary aim of these changes is to increase client protection, particularly with regard to the extent of information conveyed; the evaluation of information as to a client's expert knowledge, experiences and risk profile; and the execution of client orders concerning investment instruments.
In accordance with the Act, the Bank is obliged to carry out a categorisation of its clients and to inform them of their placement into the appropriate category. Explanatory information about the categorisation is given in the document:
Moreover, the Bank is obliged under the Act to provide its clients information on the following:
- the Bank and the investment services it provides
- investment instruments
- potential risks which may be associated with a given investment service or instrument, and their possible minimisation
- rules for handling a client's assets and their protection, including the Securities Brokers Guarantee Fund.
All this information is given in the document: Pre-trade Information Duty
The Bank will inform the client about the content of contracts on providing investment services and on the rights and obligations of the contracting parties arising from these contractual relationships, and the Bank will do so always by presenting a proposal of the relevant contract for review such that the client always has sufficient time to examine the contractual terms and conditions.
Under the Act, the Bank is obliged to publish for clients its execution policy, conflicts of interest policy including inducements, and rules for lodging complaints and claims. These documents are available for inspection here:
- Execution Policy
- Conflict of Interest Policy, including inducements
- Rules for Lodging Complaints and Claims
For clients who invest into the Czech family of Pioneer funds, a summary of specific examples of conflicts of interest and inducements connected with such orders is available at any branch of the Bank.
More specific information related to individual investment instruments is given in separate documents in the form of product lists, fund statutes, and issuance terms and conditions. This information is available in printed form at all branches of the Bank as well as on its respective web pages.
Information on the price for providing an investment service is given in the Bank's Price List, which is available for inspection at all branches of the Bank as well as on its web pages:
The prices and fees associated with the provision of an investment service, witch are not indicated in the Price List, are either given in the document relating to a specific investment instrument (e.g. collective investment fund statutes) or are established individually within a contract on providing an investment service or separately before concluding each individual trade (e.g. individual derivative transactions).
The Bank hereby alerts you to the fact that the aforementioned information is available also in printed form at all of the Bank's place of business.
Should you have questions of any kind, please do not hesitate to contact your branch or the Bank's representative.
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