PRIIP概述

背景
2018年,一項歐盟新規生效,該新規旨在對“零售”客戶進行保護,確保其在買入某種產品時能夠獲得充分的披露信息。該法規被稱為零售及保險投資產品組合法規(MiFID II指令2014/65/EU)或PRIIP,其覆蓋了所有應付給客戶的金額會受參考值或一種或多種并非由該等零售投資者直接買入之資產的業績表現影響而波動的投資。常見列子包括期權、期貨、差價合約、ETF、ETN和其它結搆性產品。

值得注意的是,經紀商不得允許零售客戶購買PRIIP覆蓋的產品,除非該產品的發行機搆已經備好了要求的披露文件讓經紀商提供給客戶。這種披露文件被稱為關鍵信息文件(“KID”),包括產品描述、成本、風險回報情況及可能的業績情境等信息。美國客戶不受PRIIP影響,因此,某些美國掛牌ETF的發行機搆通常不會創建關鍵信息文件。這就意味著,歐洲經濟區(“EEA”)的零售客戶可能無法購買此類產品。

客戶分類
IBKR默認將所有個人客戶分類為“零售”客戶,因為這樣可以給與客戶MiFID提供的最廣泛的保護。被分類為“專業”客戶的客戶無法享受“零售”客戶級別的保護,但同時也不需要受KID文件要求的限制。根據MiFID II的定義,“專業”客戶包括受監管的實體、大型客戶和要求被重新分類為“選擇性專業客戶”并且在知識、經驗和財務實力方面滿足MiFID II要求的個人。

IB提供了線上程序可供“零售”客戶申請將其分類更改為“專業”。重新分類的資格要求以及申請重新分類的步驟,請參見KB3298,如果要直接申請更改分類,可通過客戶端/賬戶管理中的相關問卷進行。
 

盈透證券(英國)有限公司 – MiFID分類

簡介

歐盟《金融工具市場法規(MiFID)》及其后修訂版MiFID II要求盈透證券英國有限公司【Interactive Brokers (U.K.) Limited (IBUK)】根據客戶的知識水平、經驗和專長將客戶分為“零售客戶”、“專業客戶”或“合格對手方”這几類。 

根據英國金融行為監管局(“FCA”)的法規,IBUK將大多數客戶歸為零售客戶,為其提供較高層次的保護。
 
只有受監管的實體或由受監管的基金經理管理的基金才會被歸為專業客戶。

專業客戶與零售客戶在監管保障方面的主要區別有:

1. 組合投資的性質與風險說明:以其它服務或產品作為協議條件向零售客戶提供投資服務的公司必須:(i) 告知零售投資者組合協議的風險是否與各組成部分單獨對應的風險有所不同;并(ii) 向零售客戶提供協議不同組成部分的充分說明以及各部分相互作用改變風險的方式。上述要求不適用於專業客戶。但是,除了下方第3點的情況外,IBUK的處理方法并不會有太多不同。

2. 差價合約(”CFD“)的投資者保護措施:歐洲證券與市場管理局(”ESMA“)針對向零售客戶提供差價合約推出了干預措施。措施包括:(i) 對開倉頭寸實施新的杠杆限制,根據底層證券的波動率而定;(ii) 以單個賬戶為單位的保證金平倉規則,標准化了供應商必須平倉一個或多個未結差價合約的保證金百分比水平;(iii) 以單個賬戶為單位的負余額保護規則;
(iv) 限制交易差價合約的獎勵;以及(v) 標准化風險警示,包括披露差價合約供應商出現虧損的零售投資者賬戶的百分比。上述要求不適用於專業客戶。

3. 與客戶的溝通:公司必須確保其與所有客戶的溝通均清楚、公證、不具誤導性。但是,公司與專業客戶溝通(有關其自身、其服務與產品以及其報酬)的方式則可能會和與零售客戶溝通的方式不同。公司在信息提供的詳細程度、使用的工具以及時間選擇方面的責任都會根據客戶是零售客戶還是專業客戶而會有所不同。發送某些產品特定文件(如零售及保險投資產品組合(“PRIIP”)關鍵信息文件(“KID”)的要求不適用於專業客戶。

4. 價值減損報告:若零售客戶賬戶持有杠杆金融產品頭寸或涉及或有負債交易,則如果各產品的初始價值下降10%且之后以10%的倍數下跌,則公司必須通知零售客戶。上述要求不適用於專業客戶。

5. 合適性:在評估非咨詢(non-advised)服務的合適性時,公司須確定客戶是否具備必要的經驗和知識,能夠了解所提供或需求之產品或服務相關的風險。該等合適性評估要求應用到客戶時,公司會認為專業客戶具備必要的經驗和知識了解其被分類為專業客戶的該等特定投資服務或交易、或該等類型交易或產品相關的風險。但公司不會對零售客戶作此假設,而是必須確定零售客戶確實具備必要的經驗和知識水平。
 

IBUK提供非咨詢服務,在評估既定服務或產品的合適性時,不需要像對零售客戶那樣對專業客戶索取信息或遵守評估程序,如果不能確定某一既定服務或產品的合適性,IBUK也不需要向專業客戶發出警告。 

6. 責任免除:在FCA法規下,公司針對零售客戶免除或限制其自身責任或義務的能力比針對專業客戶時要弱。

7. 金融服務申訴機搆:英國金融申訴服務機搆對專業客戶不可用,除非其是,例如,在其自身行業、業務、技能或專業之外行動的消費者、小型企業或個人。

8. 補償:IBUK是英國金融服務補償計划的參與成員。如果IBUK不能履行對您的義務,您有權從該計划索取賠償。這取決於業務的類型以及索賠的情況;補償僅對某些類型的索賠人和某些類型的業務可用。從補償計划獲取補償的資格將根據計划適用的規則確定。
 

重新分類為專業客戶

IBUK允許其零售客戶申請重新分類為專業客戶。我們會告知客戶其客戶分類,并且客戶可隨時在賬戶管理(設置>賬戶設置>MiFID客戶類別)中進行查看。客戶也可從本頁面請求更改其MiFID分類。

在下方兩種情況下,IBUK會考慮將零售客戶重新分類為專業客戶:

1. 固有專業客戶可以通知IBUK,因至少滿足以下一項條件,其認為其自身根據FCA規則應該被分類為固有專業客戶:

(i) 被授權或受監管在金融市場運作;或

(ii) 公司層面滿足下方規模要求中任意兩項的大型事業:

(a) 資產負債表總額達20,000,000歐元;
(b) 淨營業額達40,000,000歐元;
(c) 自有資金達2,000,000歐元;

(iii) 主要活動為投資金融產品的機搆投資者。這包括致力於資產證券化或其它融資交易的實體。

2. 如果基於對客戶技能、經驗和知識的評估,IBUK有理由相信,考慮所設想之交易或服務的性質,客戶能夠自行做出投資決定并了解其中風險,則IBUK會將客戶作為選擇性專業客戶。不滿足固有專業客戶要求的客戶仍然可以申請被分類為選擇性專業客戶。

要獲得重新分類,零售客戶必須提供證據證明其至少滿足以下標准中的兩項:

1. 在過去4個季度,客戶進行大額金融產品交易的平均頻率達每季度10次。

IBUK會考慮以下條件來確定大額交易:

a. 過去4個季度內,進行了至少40筆交易;
b. 過去4個季度內每個季度至少進行了1筆交易;
c. 過去4個季度內進行的最大的40筆交易總名義價值大於200,000歐元;
d. 賬戶淨資產價值大於50,000歐元。

現貨外匯和未分配OTC金屬交易不納入計算。

2. 客戶持有的金融產品(包括現金)投資組合超過500,000歐元(或等值);

3. 客戶是個人賬戶持有人或機搆賬戶交易者,且其至少有一年在金融行業要求具備產品知識的專業崗位工作的經驗。

審核并驗證客戶提供的信息和證明資料后,如果所有相關條件均已符合,則IBUK會對客戶進行重新分類。

申請重新分類為專業客戶的零售客戶在提交相關申請前,必須閱讀并了解IBUK的警告信息。

重新分類為零售客戶專業客戶可以在上述同一賬戶管理頁面(設置>賬戶設置>MiFID客戶類別)向IBUK提出申請將其重新分類為零售客戶。

除了受監管實體或由受監管基金經理管理的基金應分類為固有專業客戶外,IBUK可接受所有此類請求。

本信息僅用於指導盈透證券全披露清算服務客戶。
注:以上信息不作為全面窮盡式指南,也不是對法規的權威性解釋,而是對IBUK對待客戶分類和重新分類政策之方法的總結。

 

 

PRIIPs Overview

BACKGROUND
In 2018, an EU regulation, intended to protect “Retail” clients by ensuring that they are provided with adequate disclosure when purchasing certain products took effect. This regulation is known as the Packaged Retail and Insurance-based Investment Product Regulation (MiFID II, Directive 2014/65/EU), or PRIIPs, and it covers any investment where the amount payable to the client fluctuates because of exposure to reference values or to the performance of one or more assets not directly purchased by such retail investor. Common examples of such products include options, futures, CFDs, ETFs, ETNs and other structured products.

It’s important to note that a broker cannot allow a Retail client to purchase a product covered by PRIIPs unless the issuer of that product has prepared the required disclosure document for the broker to provide to the client. This disclosure document is referred to as a Key Information Document, or KID, and it contains information such as product description, cost, risk-reward profile and possible performance scenarios. U.S. clients are not impacted by PRIIPs, so the issuers of some of the more popular U.S. listed ETFs often elect not to create a KID. This means that EEA Retail client may not purchase the product.

CLIENT CATEGORISATION
IBKR categorises all individual clients as “Retail” by default as this affords clients the broadest level of protection afforded by MiFID. Client who are categorised as “Professional” do not receive the same level of protection as “Retail” but are not subject to the KIDs requirement. As defined under MiFID II rules, “Professional” clients include regulated entities, large clients and individuals who have asked to be re-categorised as “elective professional clients” and meet the MiFID II requirements based on their knowledge, experience and financial capability.

IB provides an online step-by-step process that allows “Retail” to request that their categorisation be changed to “Professional". The qualifications for re-categorisation along with the steps for requesting that one’s categorisation be considered are outlined in KB3298 or, to directly apply for a change in categorisation, the questionnaire, is available in the Client Portal/Account Management.
 

Interactive Brokers (U.K.) Limited – MiFID Categorisation

Introduction

The European Union legislative act known as the Markets in Financial Instruments Directive, or MiFID, as amended by MiFID II, requires Interactive Brokers (U.K.) Limited (IBUK) to classify each Client according to their knowledge, experience and expertise: "Retail", "Professional" or "Eligible Counterparty". 

In accordance with the Financial Conduct Authority rules, IBUK categorises most clients as Retail clients, providing them with a higher degree of protection.
 
Only those clients that are either regulated entities or funds managed by regulated fund managers, are categorised as Per Se Professional Clients.

The main differences in regulatory protections afforded to Professional Clients as compared with Retails Clients are:

1. Description of the nature and risks of packaged investments: A firm that offers an investment service with another service or product or as a condition of the same agreement with a retail client must: (i) inform retail clients if the risks resulting from the agreement are likely to be different from the risks associated with the components when taken separately; and (ii) provide retail clients with an adequate description of the different components of the agreement and the way in which its interaction modifies the risks. The above requirements do not apply in respect of professional clients. However, IBUK will not make such differentiation apart from the case specified under point 3 below.

2. Investor protection measures on the provision of Contracts for Differences (“CFDs”): The European Securities and Markets Authority (“ESMA”) introduced product intervention measures on the provision of CFDs to retail investors. The measures include: (i) New leverage limits on the opening of a position, which vary according to the volatility of the underlying; (ii) A margin close out rule on a per account basis that standardises the percentage of margin at which providers are required to close out one or more open CFDs; (iii) Negative balance protection on a per account basis;
(iv) A restriction on the incentives offered to trade CFDs; and (v) A standardised risk warning, including the percentage of losses on a CFD provider’s retail investor accounts.The above requirements do not apply in respect of professional clients.

3. Communication with clients: A firm must ensure that its communications with all clients are fair, clear and not misleading. However, the way in which a firm may communicate with professional clients (about itself, its services and products, and its remuneration) may be different from the way in which the firm communicates with retail clients. A firm’s obligations in respect of the level of details, medium and timing of the provision of information are different depending on whether the client is a retail or professional client. The requirements to deliver certain product-specific documents, such as Key Information Documents (“KID”) for Packaged Retail and Insurance-based Investment Products (“PRIIPs”), are not applied to professional clients.

4. Depreciation in value reporting: A firm that holds a retail client account that includes positions in leveraged financial instruments or contingent liability transactions must inform the retail client, where the initial value of each instrument depreciates by 10 per cent and thereafter at multiples of 10 per cent. The above requirements do not apply in respect of professional clients.

5. Appropriateness: When assessing appropriateness for non-advised services, a firm may be required to determine whether the client has the necessary experience and knowledge in order to understand the risks involved in relation to the product or service offered or demanded. Where such an appropriateness assessment requirement applies in respect of a client, the firm may assume that a professional client has the necessary experience and knowledge in order to understand the risks involved in relation to those particular investment services or transactions, or types of transaction or product, for which the client is classified as a professional client. A firm may not make such an assumption for a retail client and must determine that a retail client does have the necessary level of experience and knowledge.
 

IBUK provides non-advised services and is not required to request information or adhere to the assessment procedures for a professional client when assessing the appropriateness of a given service or product as with a retail client, and IBUK may not be required to give warnings to the professional client if it cannot determine appropriateness with respect to a given service or product. 

6. Exclusion of liability: Firms’ ability to exclude or restrict any duty or liability owed to clients is narrower under the FCA rules in the case of retail clients than in respect of professional clients.

7. The Financial Services Ombudsman: The services of the Financial Ombudsman Service in the UK may not be available to professional clients, unless they are, for example, consumers, small businesses or individuals acting outside of their trade, business, craft or profession.

8. Compensation: IBUK is a member of the UK Financial Services Compensation Scheme. You may be entitled to claim compensation from that scheme if IBUK cannot meet its obligations to you. This will depend on the type of business and the circumstances of the claim; compensation is only available for certain types of claimants and claims in respect of certain types of business. Eligibility for compensation from the scheme is determined under the rules applicable to the scheme.
 

Re-categorisation as Professional Client

IBUK allows its Retail Clients to request to be re-categorised as Professional Clients. Clients are notified of their Client Category and can check it at any time from Account Management, under Settings> Account Settings> MiFID Client Category. From this same screen, Clients can also request to change their MiFID Category.

IBUK will consider re-categorising Retail Clients to Professional Clients in two instances:

1. Per Se Professional Clients can notify IBUK that they consider that they should have been categorised as Per Se Professionals under the FCA rules, because at least one of the following conditions applies:

(i) authorised or regulated to operate in the financial markets; or

(ii) a large undertaking meeting two of the following size requirements on a company basis:

(a) balance sheet total of EUR 20,000,000;
(b) net turnover of EUR 40,000,000;
(c) own funds of EUR 2,000,000;

(iii) an institutional investor whose main activity is to invest in financial instruments. This includes entities dedicated to the securitisation of assets or other financing transactions.

2. IBUK may treat Clients as Elective Professional Clients if, based on an assessment of the Client’s expertise, experience, and knowledge, IBUK is reasonably assured that, in light of the nature of the transactions or services envisaged, the Client is capable of making its own investment decisions and understand the risks involved. Clients who do not meet the requirements to be categorised as Per Se Professional Clients can still request to be categorised as Elective Professional Clients.

To obtain such re-categorisation, Retail Clients must provide evidence that they satisfy at least two (2) of the following criteria:

1. Over the last four (4) quarters, the Client conducted trades in financial instruments in significant size at an average frequency of ten (10) per quarter.

To determine the significant size IBUK considers the following:

a. During the last four quarters, there were at least forty (40) trades; and
b. During each of the last four (4) quarters, there was at least one (1) trade; and
c. The total notional value of the top forty (40) trades of the last four (4) quarters is greater than EUR 200,000; and
d. The account has a net asset value greater than EUR 50,000.

Trades in Spot FX and Unallocated OTC Metals are not considered for the purpose of this calculation.

2. The Client holds a portfolio of financial instruments (including cash) that exceeds EUR 500,000 (or equivalent);

3. The Client is an individual accountholder or a trader of an organisation account who works or has worked in the financial sector for at least one year in a professional position which requires knowledge of products it trades in.

Upon review and verification of the information and supporting evidence provided, IBUK will re-categorise clients if all relevant conditions are met to satisfaction.

Retail Clients requesting to be re-categorised as Professional Accounts must read and understand the warning provided by IBUK before the relevant request is submitted.

Re-categorisation as Retail Client Professional Clients can request IBUK to be re-categorised as Retail Clients, from the same Account Management page described above (under Settings> Account Settings> MiFID Client Category).

With the sole exception of regulated entities or funds managed by regulated fund managers, which are categorised as Per Se Professional Clients, IBUK accepts all such requests.

THIS INFORMATION IS GUIDANCE FOR INTERACTIVE BROKERS FULLY DISCLOSED CLEARED CUSTOMERS ONLY.
NOTE: THE INFORMATION ABOVE IS NOT INTENDED TO BE A COMPREHENSIVE, EXHAUSTIVE NOR A DEFINITIVE INTERPRETATION OF THE REGULATION, BUT A SUMMARY OF IBUK’S APPROACH TO CLIENT CATEGORISATION AND RE-CATEGORISATION POLICY.

 

 

Information Regarding Australian Regulatory Status Under IB Australia

Introduction
Australian resident customers maintaining an account with Interactive Brokers Australia Pty Ltd (IB
Australia), which holds an Australian Financial Services License, number 453554, are initially
classified as a retail investor, unless they satisfy one or more of the requirements to be classified as a
wholesale or professional investor according to the relevant provisions of the Corporations Act 2001.
This article outlines how this process is handled by IB Australia.

Australian Regulatory Status
All new customers of IB Australia default to being classified as a retail investor unless they produce to
IB Australia the required documentary evidence to allow IB Australia to treat them as a wholesale or
professional investor. Investors of IB Australia will only have their regulatory status change from
retail investor to either wholesale or professional investor subsequent to the required
documentation being received and approved by IB Australia.

What is a Wholesale Investor?
The most common way to be classified as a wholesale investor is to obtain a qualified accountant’s
certificate stating that you have net assets or net worth of at least $2.5 million AUD OR have a gross
annual income of at least $250,000 AUD in each of the last two financial years. The qualified
accountant’s certificate is only valid for two years before it needs to be renewed. We have prepared a
wholesale investor booklet, including a pro forma certificate for your accountant to complete, that
can be downloaded [here].

What is a Professional Investor?
In order to qualify as a professional investor, you must have an AFSL, be a body regulated by APRA,
be a superannuation fund (but not a SMSF) and/or have net worth or liquid net worth of at least $10
million AUD. If you meet one of these criteria, you will need to complete and submit to IB Australia
the professional investor declaration contained within the professional investor booklet that we have
prepared, which can be downloaded [here].

What about Self-Managed Super Funds (SMSF’s)?
The law governing the regulatory status of SMSF’s is somewhat of a grey area. As such, IB Australia
have decided to treat all SMSF’s as retail investors, notwithstanding that they may meet the
requirements to otherwise be classified as a wholesale or professional investor.

What about trusts?
For a trust to be considered as a wholesale investor, all trustees must be considered a wholesale
investor based on the tests described above.

Similarly, for a trust to be considered as a professional investor, all trustees must be considered a
professional investor based on the tests described above.

As a result, if at least one trustee is considered retail, the trust is considered a retail trust, regardless
of the status of any other trustees (if applicable).

Other

  • For a full list of the disclosure documents and legal terms which govern the services IB Australia will make available please refer to the IB website.
  • For further information on IB Australia, click on our Financial Services Guide.
  • For more information or assistance, please contact IB Investor Services.

 

法律實體識別號碼概述

背景

法律實體識別號碼(LEI)是一個20位的參考代碼,該代碼能夠標識參與全球各市場或司法轄域的金融交易的獨立法律實體。LEI體系是G20集團根據ISO標准 發展而來的,由LEI的簽發機搆——當地運營單位(LOU)提供注冊和延期服務。為參與金融交易的每一家法律實體提供獨特的識別號碼(以及與實體相關的關鍵參考信息)的目的是提高市場透明度。

DTC和SWIFT充當美國的LEI簽發方,且有專門的網站負責分配新的LEI和提供已有LEI的搜索服務。詳情請見:http://www.gmeiutility.org/

 

需使用LEI的情況

在某些情況下,法律法規會要求經紀商報告有關客戶的信息,這其中就包括客戶識別信息。對於諸如信托和機搆等實體,該識別信息即為LEI。需報告LEI的 情況包括:

CFTC所有權及控制權報告
MIFIR交易報告
中國股票互聯互通
EMIR交易信息庫報告

 

獲取LEI

法律實體可聯系經授權的LEI簽發機搆(也稱為當地運營單位/LOU)獲取LEI。DTC和SWIFT充當美國的LEI簽發方,且有專門的網站負責LEI注冊和延期。請注意,LEI申請人可使用任何被認可的LOU的服務,不限於其所在國家的LEI簽發機搆。

此外,作為向客戶提供的一項服務,IBKR會通過賬戶管理向需要LEI用於交易或滿足其它監管報告職能的實體發送邀請。通過該邀請,客戶可授權IBKR通過DTC的加速通道(需3個工作日)請求LEI,之后再從客戶的賬戶中扣取申請費用和年度延期費用。

針對大麻類證券的清算所限制

斯圖加特交易所(Boerse Stuttgart)和明訊銀行(Clearstream Banking)宣布其將不再對主營業務與大麻及其它毒品直接或間接相關的證券提供服務。 因此,該等證券將不會再於斯圖加特(SWB)或法蘭克福(FWB)證券交易所交易。自2018年9月19日收槃開始,IBKR將釆取以下行動:

  1. 對於客戶未釆取行動平倉,但也不能轉至美國掛牌市場的受影響頭寸,進行強制平倉;
  2. 對於客戶未釆取行動平倉,但能夠轉至美國掛牌市場的受影響頭寸,將股票轉至其美國掛牌市場。

下方表格列出了斯圖加特交易所和明訊銀行截至2018年8月7日公布的受影響證券。該表格還標記了受影響證券是否能夠轉至美國掛牌市場。注意,清算所已聲明該列表可能尚不完整,建議客戶檢查其各自網站了解最新信息。

ISIN 名稱 交易所 是否可轉至美國? 美國代碼
CA00258G1037

ABATTIS BIOCEUTICALS CORP

FWB2

ATTBF

CA05156X1087

AURORA CANNABIS INC

FWB2, SWB2

ACBFF

CA37956B1013

GLOBAL CANNABIS APPLICATIONS

FWB2

FUAPF

US3988451072

GROOVE BOTANICALS INC

FWB

GRVE

US45408X3089

INDIA GLOBALIZATION CAPITAL

FWB2, SWB2

ICG

CA4576371062

INMED PHARMACEUTICALS INC

FWB2

IMLFF

CA53224Y1043

LIFESTYLE DELIVERY SYSTEMS I

FWB2, SWB2

LDSYF

CA56575M1086

MARAPHARM VENTURES INC

FWB2, SWB2

MRPHF

CA5768081096

MATICA ENTERPRISES INC

FWB2, SWB2

MQPXF

CA62987D1087

NAMASTE TECHNOLOGIES INC

FWB2, SWB2

NXTTF

CA63902L1004

NATURALLY SPLENDID ENT LTD

FWB2, SWB2

NSPDF

CA88166Y1007

TETRA BIO-PHARMA INC

FWB2

TBPMF

CA92347A1066

VERITAS PHARMA INC

FWB2

VRTHF

CA1377991023

CANNTAB THERAPEUTICS LTD

FWB2  
CA74737N1042

QUADRON CANNATECH CORP

FWB2  
CA84730M1023

SPEAKEASY CANNABIS CLUB LTD

FWB2, SWB2  
CA86860J1066

SUPREME CANNABIS CO INC/THE

FWB2  
CA92858L2021

VODIS PHARMACEUTICALS INC

FWB2  

 重要注意事項:

  • 請注意,美國掛牌證券通常為場外交易(PINK),且以美元(而非歐元)計價, 因此,除市場風險外,您還將面對匯率風險。
  • 持有粉單(PINK Sheet)證券的賬戶持有人需要有美國(仙股) 交易許可才能下達開倉定單。
  • 擁有美國(仙股) 交易許可之賬戶的所有使用者均須使用雙因素驗證登錄賬戶。

Clearinghouse Restrictions on Cannabis Securities

Boerse Stuttgart and Clearstream Banking have announced that they will no longer provide services for issues whose main business is connected directly or indirectly to cannabis and other narcotics products.  Consequently, those securities will no longer trade on the Stuttgart (SWB) or Frankfurt (FWB) stock exchanges. Effective as of the 19 September 2018 close, IBKR will take the following actions:

  1. Force close any impacted positions which clients have not acted to close and that are not eligible for transfer to a U.S. listing; and
  2. Force transfer to a U.S. listing any impacted positions which clients have not acted to close and that are eligible for such transfer.

Outlined in the table below are impacted issues as announced by the Boerse Stuttgart and Clearstream Banking  as of 7 August 2018. This table includes a notation as to whether the impacted issue is eligible for transfer to a U.S. listing. Note that the clearinghouses have indicated that this list may not yet be complete and clients are advised to review their respective websites for the most current information.

ISIN NAME EXCHANGE U.S. TRANSFER ELIGIBLE? U.S. SYMBOL
CA00258G1037

ABATTIS BIOCEUTICALS CORP

FWB2 YES

ATTBF

CA05156X1087

AURORA CANNABIS INC

FWB2, SWB2 YES

ACBFF

CA37956B1013

GLOBAL CANNABIS APPLICATIONS

FWB2 YES

FUAPF

US3988451072

GROOVE BOTANICALS INC

FWB YES

GRVE

US45408X3089

INDIA GLOBALIZATION CAPITAL

FWB2, SWB2 YES

ICG

CA4576371062

INMED PHARMACEUTICALS INC

FWB2 YES

IMLFF

CA53224Y1043

LIFESTYLE DELIVERY SYSTEMS I

FWB2, SWB2 YES

LDSYF

CA56575M1086

MARAPHARM VENTURES INC

FWB2, SWB2 YES

MRPHF

CA5768081096

MATICA ENTERPRISES INC

FWB2, SWB2 YES

MQPXF

CA62987D1087

NAMASTE TECHNOLOGIES INC

FWB2, SWB2 YES

NXTTF

CA63902L1004

NATURALLY SPLENDID ENT LTD

FWB2, SWB2 YES

NSPDF

CA88166Y1007

TETRA BIO-PHARMA INC

FWB2 YES

TBPMF

CA92347A1066

VERITAS PHARMA INC

FWB2 YES

VRTHF

CA1377991023

CANNTAB THERAPEUTICS LTD

FWB2 NO  
CA74737N1042

QUADRON CANNATECH CORP

FWB2 NO  
CA84730M1023

SPEAKEASY CANNABIS CLUB LTD

FWB2, SWB2 NO  
CA86860J1066

SUPREME CANNABIS CO INC/THE

FWB2 NO  
CA92858L2021

VODIS PHARMACEUTICALS INC

FWB2 NO  

 IMPORTANT NOTES:

  • Note that the U.S. listings generally trade over-the-counter (PINK) and are denominated in USD not EUR thereby exposing you to exchange rate risk in addition to market risk.
  • Account holders maintaining PINK Sheet securities require United States (Penny Stocks) trading permissions in order to enter opening orders.
  • All users on accounts maintaining United States (Penny Stocks) trading permissions are required use 2 Factor login protection when logging into the account.

打包零售和保險類投資產品法規(PRIIPs)

“打包零售和保險類投資產品法規” - 歐盟編號1286/2014(“PRIIPs法規”或“PRIIPs”)於2014年12月29日簽署,其規定於2018年1月1日生效。法規要求打包零售和保險類投資產品的生產者創建并維護關鍵信息文件(KIDs),銷售或就此類產品提供咨詢建議的人士向所有在歐洲經濟區(EEA)的零售投資者提供關鍵信息文件,以幫助這些投資者更好地了解和比較產品。
 

PRIIPs法規的目的。
自2008年金融危機以來,歐盟委員會的主要目標之一是加強投資者保護以及重建公眾對金融市場的信心。
 

法規提出了新的標准化“關鍵信息文件(KID)”,以提升零售投資者對打包零售和保險類投資產品的了解,并能更好地比較這些產品。打包零售和保險類投資產品是指向投資者支付的金額隨參照值變動而變動的任意投資產品。除保險產品外,其它例子還包括期權、期貨、差價合約和結搆化產品等。

該法規是一項投資者保護法規,其主要目標為:

  • 確保投資者能理解并比較相似的產品,從而做出投資決策。
  • 提高零售投資市場的透明度及公眾的信心。
  • 促進一體化歐盟保險市場的形成。

法規旨在通過規定關鍵信息文件的標准格式和內容來達成以上目標。

什么是關鍵信息文件?
關鍵信息文件是一份3頁的文件,包括有關產品的重要信息,如產品的一般描述、成本、風險回報情況及可能的業績情境。
 

該法規適用於哪些實體?
法規適用於打包零售和保險類投資產品的生產者和經銷商。創建并維護文件的責任由產品生產者承擔。然而,任何銷售、就打包零售和保險類投資產品向零售投資者提供咨詢建議、或接受零售投資者買入該類產品的定單的經銷商或金融中介機搆都必須向投資者提供關鍵信息文件。這也適用於僅執行定單的網絡交易環境。
 

誰應收到關鍵信息文件?
居住在歐洲經濟區的零售投資者應在投資打包零售和保險類投資產品前收到關鍵信息文件。如生產者不提供關鍵信息文件,歐洲經濟區的零售客戶將無法交易該產品。
 

對盈透證券的影響:
為遵守PRIIPs法規,IB英國將通過網站以電子化的形式提供關鍵信息文件(“PRIIPs關鍵信息文件登陸頁”)。
 

我在哪里可以找到PRIIPs關鍵信息文件登陸頁?
關鍵信息文件可通過我們專門的PRIIPs關鍵信息文件登陸頁找到。您可通過三種不同的方式找到關鍵信息文件。即通過IB交易者工作站(“TWS”)、IB網站和賬戶管理找到。

 1. 通過TWS找到關鍵信息文件:

  • 登錄TWS
  • 右擊您想要獲取關鍵信息文件的產品代碼。
  • 在金融產品信息下選擇“詳情”。

 

  • 在合約詳情頁面,您可選擇PRIIPs關鍵信息文件鏈接。這將帶您前往賬戶管理中的PRIIPs關鍵信息文件登陸頁。

 

  2. 通過IB網站找到關鍵信息文件:

  • 打開“交易”標簽并選擇“產品列表”

  • 選擇您想要獲得合約信息的產品的衍生品類型、區域和交易所。

  • 選擇您想要查看關鍵信息文件的產品,轉至合約詳情頁面。

  • 在如下所示的合約詳情頁面上,點擊PRIIPs關鍵信息文件鏈接,即可轉至賬戶管理中的PRIIPs關鍵信息文件登陸頁。

 3. 通過賬戶管理找到關鍵信息文件:

  • 登錄賬戶管理。
  • 依次選擇“支持”和“PRIIPs關鍵信息文件”,即可前往賬戶管理的PRIIPs關鍵信息文件登陸頁。

或者,在傳統模式賬戶管理中:

  • 在“支持”標簽下選擇“工具”

  • 選擇“合約搜索”,然后搜索您想要查看關鍵信息文件的合約。

  • 選擇您希望尋找的產品類型。(如期貨)

  • 然后選擇您想要的合約的詳情,您將來到“合約詳情”頁面。

  • 在這里您可點擊PRIIPs關鍵信息文件鏈接,即可前往賬戶管理的PRIIPs關鍵信息文件登陸頁。

 

Legal Entity Identifier Overview

BACKGROUND

The Legal Entity Identifier (LEI) is a 20-digit reference code that uniquely identifies legally distinct entities engaging in financial transactions globally, and across markets and jurisdictions. The LEI system was developed by the G-20 in accordance with ISO standards and the issuers of LEIs, referred to as Local Operating Units (LOU), supply registration and renewal services. Providing a unique identifier for each legal entity (along with key reference information associated with the entity) participating in financial transactions is intended to promote transparency.

DTC, in collaboration with SWIFT, operate as the local (U.S.) source provider of LEIs and maintains a website for the assignment of new and search of existing LEIs.  See: http://www.gmeiutility.org/

 

SITUATIONS REQUIRING A LEI

In certain instances, brokers are required by regulation to report information regarding a client and include in that information a client identifier. For entities such as trusts and organizations, that identifier is referred to an a LEI. Examples of these reporting instances include the following:

CFTC Ownership and Control Reporting
MiFIR Transaction Reporting
China Stock Connect
EMIR reporting to trade repository

 

OBTAINING THE LEI

A LEI can be obtained by contacting an authorized LEI issuer, also referred to as a Local Operating Unit (LOU). The DTC, in collaboration with SWIFT, operates as a U.S. LOU and maintains a website for purposes of LEI registration and renewal. Note that LEI applicants can use the services of any accredited LOU and are not limited to using an LEI issuer in their own country.

In addition, as a service to its clients, IBKR will send an invite via Account Management to those who are required to obtain a LEI for trading or other regulatory reporting functions.  Through this invite, the client can authorize IBKR to request an LEI through DTC on an accelerated basis (3 business days) and debit the client's account for the application fee and the annual renewal fee thereafter.

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