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Why am I receiving a Cost and Charges Statement?
Why am I receiving a Cost and Charges Statement?
Why am I receiving a Cost and Charges Statement?

New rules have been introduced by the “Markets in Financial Instruments Directive” (MiFID). This legislation regulates the provisions of investment services within the European Economic Area (EEA). It was first implemented in 2004, however it was revised and a second version came into force on 3rd January 2018, bringing about more obligations on investment service providers. 

This legislation requires firms to provide more information about the costs and charges incurred by a customer when investment services are provided. This is mainly done to enhance transparency and build trust while maintaining an appropriate focus on the cost of the investment service. Bank of Valletta plc, as a MiFID firm, is therefore bound to disclose to you, costs and charges incurred on your investment portfolio.

The Cost and Charges Statement will be sent to you on an annual basis and will inform you about the costs and charges borne by yourself with regards to instruments held in your portfolio.  The first statement will cover a period of 13 months starting 3rd January 2018 to 31st January 2019. Subsequent statements will be issued for periods of 12 months.

This costs and charges statement is provided to you for information purposes only and no action is required from your end.

 

 

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Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).