More harmonised handling of investment services
As of 1 November 2007 investment services in the EU were harmonised due to MiFID (Markets in Financial Instruments Directive). The directive affected all our customers buying investment services. The directive impacted on, among other things, securities brokerage in share, fund, bond and derivatives transactions, investment advice and asset management.
The main objective of the directive was to improve investor protection, harmonise investment services and increase competition in the financial sector within the EU.
Nordea has already a high standard of customer handling in the Nordic countries. However, we have also adjusted both procedures and practices according to the new rules making it as easy as possible for our customers. These rules apply for both personal and corporate customers.
Customers do not need to take any actions due to the new rules.
- Classify all our customers who buy investment services from us;
- Assess the suitability of a service for the customer;
- Provide the customer with best execution when executing customer orders;
- Provide our customers with a summary of our conflicts of interest policy.