Client categorisation

For the purposes of investment and ancillary services, MiFID II requires banks to classify their clients into three categories:

Retail client (hereinafter referred to as “individual client”) or
Professional client or
Eligible counterparty

The level of protection afforded to clients depends on their classification in one of these categories, based on their knowledge of financial instruments and services and their ability to bear the associated risks. At Banque Raiffeisen, clients are classified as individual clients by default and thus benefit from the highest level of protection.

Clients may, under certain conditions and in accordance with current regulations, request a change of classification.

Investor profile

Using a questionnaire that you complete, the Bank draws up your investor profile to find out more about:

your knowledge and experience of investment services and financial instruments,
your financial situation, including your capacity to absorb losses,
your investment horizon and objectives, including your risk tolerance and sustainability preferences

Collecting this information is a key step, as it enables us to act in your best interests by recommending services or products tailored to your investor profile.

Update of the investor profile

Because nothing is set in stone, it is important to update your investor profile: a new job, the arrival of a child, a change in your family situation or approaching retirement are all situations that call for a review of your investor profile.

Investment services

When the Bank provides investment advice or discretionary management services, it may only recommend products that are suitable with your investor profile. It considers your knowledge, experience, financial situation, ability to bear losses, investment objectives and risk tolerance.
A suitability test is carried out before each advice is given and a report (suitability statement) is provided prior to each transaction.

When the Bank provides investment services other than investment advice or discretionary management, it must assess, based on the answers you have provided, the appropriateness of transactions when purchasing complex financial instruments in Order Reception and Transmission (ORT). This assessment is based on your knowledge and experience. However, no test is carried out if the transactions involve the purchase of non-complex financial instruments such as listed shares, units in unstructured UCITS, listed bonds, etc.

Informing clients

MiFID II strengthens the requirements concerning the general information that the Bank must provide to its clients, in particular on the Bank and its services and on the costs and charges related to investment/ancillary services and financial instruments.
In addition, depending on the services you receive, the Bank will provide you with information throughout the relationship by means of various reports such as confirmation of order execution, the suitability assessment, the portfolio valuation report, the securities statement, the report in the event of a loss of 10% under discretionary management, the annual summary of costs and charges, and so on.

Documentation

Best execution of orders and selection of intermediaries

Through its policy of best execution of orders and selection of intermediaries, the Bank describes the way in which your orders for financial instruments are executed in order to obtain the best possible result for you.

Each year, the Bank also publishes information on the companies selected to execute its clients' orders during the previous year.

Prevention and management of conflicts of interest

The Bank has defined an organisational framework and measures to prevent, detect and manage conflicts of interest that may arise in the course of providing services to its clients. A summary of the Bank's policy on the prevention, detection, and management of conflicts of interest is available.

Investor guide

Further information is available in the investor guide.

MiFID II

Further information

Documents to download 5

Investor Guide

Policy of best execution of orders and selection of intermediaries

Key elements of Banque Raiffeisen's policy concerning the preventing, detecting and managing conflicts of interest

Report on selected investment firms

Report on selected investment firms

Documents to download
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