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Financial reports reports<div data-section="Annual reports" class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-center"> <h2 class="title-1">Annual reports</h2> </div> <ul class="list-brochure"> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Semi-Annual-Report-2017.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/bil-semi-ra2017.jpg?renditionID=6" alt=""></span> <span class="sub-title">Semi-Annual Report 2017</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Annual-Report-2016-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/bil-ra2016.jpg?renditionID=6" alt=""></span> <span class="sub-title">Annual report 2016</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Semi-Annual-Report-2016-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/bil-semi-ra2016.jpg?renditionID=6" alt=""></span> <span class="sub-title">Semi-Annual Report 2016</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Annual-Report-2015-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/bil-ra2015.jpg?renditionID=6" alt=""></span> <span class="sub-title">Annual report 2015</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Semi-Annual-Report-2015-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/Semi-annual-report-2015.jpg?renditionID=6" alt=""></span> <span class="sub-title">Semi-Annual report 2015</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Annual-Report-2014-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/bil-ra2014.jpg?renditionID=6" alt=""></span> <span class="sub-title">Annual report 2014</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Semi-annual%20Report%202014.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/semi-2014.jpg?renditionID=6" alt=""></span> <span class="sub-title">Semi-Annual report 2014</span> </a> </li> </ul> </div> </div> <div data-section="Risk reports" class="section-default"> <div class="page-wrapper"> <div class="grid-center"> <h2 class="title-1">Risk reports</h2> </div> <ul class="list-brochure"> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL-Risk-Report-20-Pillar-3-2016-en.PDF" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/pillar3-2016.jpg?renditionID=6" alt=""></span> <span class="sub-title">BIL Risk Report Pillar 3 2016</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Pillar-3-Semi-annual-Risk-Report-2016-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/Pillar%203%20Semi-annual%20Risk%20Report%202016-1.jpg?renditionID=6" alt=""></span> <span class="sub-title">Pillar 3 Semi-annual Risk Report 2016</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL%20Risk%20Report%20Pillar%203%202015.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/bil-pillar3-rr2015.jpg?renditionID=6" alt=""></span> <span class="sub-title">BIL Risk Report Pillar 3 2015</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Pillar_3_Semi-annual_Risk-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/pillar-3-semi-annual-risk-report.jpg?renditionID=6" alt=""></span> <span class="sub-title">Pillar 3 Semi-annual Risk Report 2015</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/Pillar%203%20Risk%20Report%202014.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/Pillar3-2014.jpg?renditionID=6" alt=""></span> <span class="sub-title">BIL Risk Report Pillar 3 2014</span> </a> </li> </ul> </div> </div>
Legal documentation documentation<!-- section : default --> <div data-section="Compliance" class="section-default is-silver"> <div class="page-wrapper"> <h2 class="title-1">Compliance</h2> <ul class="list-brochure"> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/politique-conflits-interets-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conflitFR.jpg" alt=""></span> <span class="sub-title">Conflicts of interest</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/pac-list-of-entities.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/pac-list-of-entities.jpg" alt=""></span> <span class="sub-title">Patriot Act-List of entities</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/certification-pac.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/certification-pac.jpg" alt=""></span> <span class="sub-title">Patriot Act-Certification</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/bil-aml-certification.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/bil-aml-certification.jpg" alt=""></span> <span class="sub-title">AML-Certification</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/wolfsberg-questionnaire.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/wolfsberg-questionnaire.jpg" alt=""></span> <span class="sub-title">Wolfsberg-Questionnaire</span> </a> </li> </ul> </div> </div> <!-- section : default --> <div data-section="Legal documentation" class="section-default"> <div class="page-wrapper"> <h2 class="title-1">Legal documentation</h2> <ul class="list-brochure"> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/Informations-generales-sur-les-comptes-de-paiement-de-base-en.PDF" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/Informations-generales-sur-les-comptes-de-paiement-de-base-fr.jpg" alt=""></span> <span class="sub-title">General information on basic payment accounts</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/fiche-credit-hypothecaire-en.PDF" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/fiche-credit-hypothecaire-en.jpg" alt=""></span> <span class="sub-title">General information on mortgage agreements</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/mifid-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/mifid.jpg" alt=""></span> <span class="sub-title">MiFID, Markets in Financial Instruments Directive</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/psd-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/psd.jpg" alt=""></span> <span class="sub-title">The Payment Services Directive (PSD)</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/guide-mobilite-bancaire-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/guide-mobilite-bancaire.jpg" alt=""></span> <span class="sub-title">Switching bank accounts in Luxembourg</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/bil-group/documentation/Pages/kiid.aspx"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/visual-documenthtml.jpg" alt=""></span> <span class="sub-title">Kiid</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/bil-regles-de-marches-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/bil-regles-de-marches-en.jpg?renditionID=6" alt=""></span> <span class="sub-title">Market rules</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/bil-group/documentation/Pages/emtn.aspx"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/visual-documenthtml.jpg" alt=""></span> <span class="sub-title">Euro Medium Term Notes (public offerings)</span> </a> </li> </ul> </div> </div> <!-- section : default --> <div data-section="Miscellaneous" class="section-default is-silver"> <div class="page-wrapper"> <h2 class="title-1">Miscellaneous</h2> <ul class="list-brochure"> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/conditions-generales-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg" alt=""></span> <span class="sub-title">General Terms and Conditions</span> </a> </li> <!--- <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/conditions-generales-06-2016-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg" alt=""></span> <span class="sub-title">General Terms and Conditions applicable as of 01/01/2017</span> </a> </li>---> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/bep-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/bep-fr.jpg" alt=""></span> <span class="sub-title">Policy for executing orders</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/regles-generales-securite-sante-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/regles-generales-securite-sante-en.jpg?renditionID=6" alt=""></span> <span class="sub-title">General Health & Safety Rules</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/condition-general-cartes-credit-en-01-2018.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg?renditionID=6" alt=""></span> <span class="sub-title">General Terms and Conditions Credit Card</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/condition-general-cartes-credit-webcard-en-01-2018.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg?renditionID=6" alt=""></span> <span class="sub-title">General Terms and Conditions Credit Card - Webcard</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/condition-general-servicard-vpay-en-01-2018.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg?renditionID=6" alt=""></span> <span class="sub-title">Debit card application - Servicard Vpay</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/condition-general-vpay-bridge-en-01-2018.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg?renditionID=6" alt=""></span> <span class="sub-title">Debit card application - Vpay Bridge</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/condition-general-vpay-graffiti-en-01-2018.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg?renditionID=6" alt=""></span> <span class="sub-title">Debit card application - Vpay Graffiti</span> </a> </li><li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/condition-general-vpay-en-01-2018.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg?renditionID=6" alt=""></span> <span class="sub-title">Debit card application - Vpay</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Static%}/Documents/BILnet/sgdl_en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/conditions-generales-fr.jpg?renditionID=6" alt=""></span> <span class="sub-title">Basic information on the protection of deposits</span> </a> </li> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/procedure-reclamations-en.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/bep-fr.jpg" alt=""></span> <span class="sub-title">Claims information </span> </a> </li> </ul> </div> </div>
FATCA<div class="section-default"> <div class="page-wrapper"> <div class="table-1-outer"> <table class="table-1"> <thead> <tr> <th width="30%">Entity Name</th> <th width="30%">FATCA Status</th> <th width="40%">GIIN (Global Intermediary Identification Number)</th> </tr> </thead> <tbody> <tr> <th>BIL Luxembourg SA</th> <td>Reporting Model 1 FFI</td> <td>WN5FYL.00000.LE.442</td> </tr> <tr> <th>BIL Denmark Branch</th> <td>Reporting Model 1 FFI</td> <td>WN5FYL.00000.BR.208</td> </tr> <tr> <th>BIL Suisse SA</th> <td>Reporting Model 2 FFI</td> <td>WN5FYL.00001.ME.756</td> </tr> </tbody> </table> </div> <p>As a consequence, the above entities are now considered as being FATCA-compliant under Chapter 4 of the U.S. IRC (the FATCA regulations) and we expect our GIIN to be included in the first list of FATCA-compliant financial institutions due to be published by the IRS on 2nd June 2014.</p> <p>We kindly remind you that an Intergovernmental Agreement (IGA) Model 1 between Luxembourg and the United States has been signed on 28th March 2014.</p> <p>In case you have any questions on this subject please do not hesitate to contact us at the following online address :</p> <p>Legal Persons Clients can claim withholding tax benefits on interest and dividends in accordance with the double taxation agreement between their country of domicile and the US. Documentation concerning the "Limitations of Benefits" of the double taxation agreements with the US can be found below. Please note that the client must decide himself whether he fulfills the conditions needed to claim tax benefits as set forth in the terms of the double taxation agreement. If in doubt, we recommend that you contact a professional tax consultant.</p> <p><a href="" target="_blank"> United States income tax treaties A to Z</a></p> <div class="box-message is-info"> <p><strong>Due to a technical problem we cannot guarantee an optimal use of the Identity tool.</strong><br>You are kindly invited to complete your documentation by either:</p> <ul class="list-1"> <li>calling our “FATCA helpline” telephone number +352 4590 2345</li> <li>downloading, completing and submitting the below PDF form.</li> </ul> <p>Thank you for your understanding.</p> </div> </div> </div> <div class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-center"> <h2 class="title-1">FATCA-related documents</h2> </div> <ul class="list-brochure"> <li> <a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/documentation-legale/fatca/form-W-9.pdf" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/fatca/form-W-9.jpg" alt=""></span> <span class="sub-title">W9</span> </a> </li> <li> <a class="sub-link" href="" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/fatca/instructions-for-form-W-8BEN-E.jpg" alt=""></span> <span class="sub-title">Instructions W8 BEN (Entities)</span> </a> </li> <li> <a class="sub-link" href="" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/fatca/instructions-for-form-W-8BEN.jpg" alt=""></span> <span class="sub-title">Instructions W8 BEN (Individuals)</span> </a> </li> <li> <a class="sub-link" href="" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/fatca/form-W-8BEN-E.jpg" alt=""></span> <span class="sub-title">W8 BEN (Entities)</span> </a> </li> <li> <a class="sub-link" href="" target="_blank"> <span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/documentation-legale/fatca/form-W-8BEN.jpg" alt=""></span> <span class="sub-title">W8 BEN (Individuals)</span> </a> </li> </ul> </div> </div>
MiFID<!-- section --> <div id="introduction" data-section="Introduction" class="section-default is-silver"> <div class="page-wrapper"> <h2 class="title-1">MiFID</h2> <p class="title-1-description">Harmonised protection of investors at European level</p> <p>MiFID (Markets in Financial Instruments Directive) is an EU directive that entered into force in November 2007. This directive strengthened the legislative framework and facilitated the harmonisation and integration of capital and financial markets in the European Union, and had three main aims:</p> <ul class="list-check"> <li>Improve the competitiveness of EU financial markets</li> <li>Strengthen the protection of investors in financial instruments</li> <li>Allow greater competition across Europe in the provision of services to investors and between trading venues.</li> </ul> <p>The financial crisis highlighted areas for improvement and called for a review of the existing regime. This is why MiFID II was launched to establish a safer, sounder, more transparent and more responsible financial system. Basically, the focus of MiFID was shifted from increasing competitiveness in the EU financial markets to increasing investor protection and transparency. <br>In addition, PRIIPs, the Packaged Retail and Insurance-Based Investment Products Regulation, will complement the MiFID II requirements by increasing the pre-contractual transparency for clients. Both MiFID II and PRIIPS will enter into force in January 2018.</p> <p><b>Further information</b></p> <p><a href="" target="_blank">EU legal information on MiFID II</a> <br><a href="" target="_blank">Key EU information documents for PRIIPS</a> <br><a href="/Documents/documentation-legale/priips-en.pdf" target="_blank">BIL customer information on PRIIPs</a></p> </div> </div> <!-- section --> <div id="mifid-practice" data-section="MiFID in practice" class="section-default"> <div class="page-wrapper"> <h2 class="title-1">MiFID in practice</h2> <p class="title-1-description">MiFID I and II as well as PRIIPS affect the relationship that you, as an investor, have with BIL. Here is an overview of the main changes:</p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">New framework for giving investment advice</h3> <div class="list-accordion-content"> <p>All investment advice must be given in the framework of a contract. This means that clients seeking investment advice can no longer simply go to their bank and ask, you must subscribe to one of our investment services. To make it easier for you to choose the right service, BIL has simplified and streamlined its <a href="/investmentproducts/index-en.html">investment offering</a> and the pricing thereof.</p> </div> </li> <li> <h3 class="list-accordion-title">Getting to know you better</h3> <div class="list-accordion-content"> <p>The new regulations require banks to ensure that clients invest in products that are suitable for their investment objectives (including their level of risk tolerance), financial situation, investment objectives and their financial experience and knowledge. You are therefore required to answer questionnaires that help your Relationship Manager to determine your risk profile and your level of financial expertise. This will help us to better understand your investment needs. We will also assess what type of investor you are (professional or not).</p> <p><b>Client categorisation</b></p> <p>On the basis of the information you gave us, we have placed you into one of three categories: retail client, professional client or eligible counterparty. We will inform you of your category. Please do not hesitate to contact your Relationship Manager if you require further explanations or if you wish to make a change.</p> <p><a href="#client-categories">Further information</a></p> <p><b>Investor profile</b></p> <p>Your investor profile enables your Relationship Manager to assess your appetite for risk. It may have already been established with BIL. Your Relationship Manager may contact you to update it, especially if it is older than ten years. If your profile has not yet been established, please make an appointment with your Relationship Manager. Otherwise, BIL will unfortunately no longer be able to provide you with investment recommendations and will be unable to verify that its products and services correspond to your investor profile. All products and services must be suitable for you and in line with your investor profile.</p> <p>It is important to update or establish your investor profile with BIL if you have not already done so.</p> <p><a href="#investor-profiles">Further information</a></p> </div> </li> <li> <h3 class="list-accordion-title">Clear and comprehensive information at all levels</h3> <div class="list-accordion-content"> <p>BIL provides you with adequate information at all stages of the execution of your transactions. Our objective is to enable you to make informed investment decisions by providing you with complete, fair, clear and not misleading information. To this end, you will be provided with comprehensive client reports before and after each trade. You will also be given regular portfolio updates.</p> <p><a href="#client-reporting">Further information</a></p> </div> </li> <li> <h3 class="list-accordion-title">The best execution principle</h3> <div class="list-accordion-content"> <p>In accordance with the MiFID, BIL has formalised its <a href="/Documents/documentation-legale/bep-en.pdf" target="_blank">Order Execution Policy</a>, which all investors should read carefully. This policy is intended to ensure the best possible execution of orders, with regard to price, cost, speed, likelihood of execution and settlement, size and type of order and any other consideration relevant to the execution of the order.</p> <p><a href="#investment-services">Further information</a></p> </div> </li> </ul> <p><b>We can help you take full advantage of the protection and opportunities arising from MiFID. <br>Do you have any questions about MiFID and its implications for you? <br>Contact your branch or your Relationship Manager.</b></p> </div> </div> <!-- section --> <div id="client-categories" data-section="Client categorisation" class="section-default is-silver"> <div class="page-wrapper"> <h2 class="title-1">Client categorisation</h2> <p>MiFID requires banks to place their active investor clients into one of three categories:</p> <ul class="list-check"> <li>retail clients</li> <li>professional clients</li> <li>eligible counterparties</li> </ul> <p>This categorisation is necessary as investors do not all have the same level of knowledge and experience of financial instruments and the related risks. It ensures that each client has an appropriate level of protection, with retail investors naturally enjoying the greatest protection.</p> <p><b>What type of client are you?</b></p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">Retail clients</h3> <div class="list-accordion-content"> <p>Clients that are neither eligible counterparties nor professional clients are automatically considered as retail clients. Retail clients benefit from the highest level of protection.</p> </div> </li> <li> <h3 class="list-accordion-title">Professional clients</h3> <div class="list-accordion-content"> <p>These include large undertakings which meet at least two of the following size requirements on a company basis:</p> <ul class="list-check"> <li>balance sheet total: EUR 20 000 000</li> <li>net turnover: EUR 40 000 000</li> <li>own funds: EUR 2 000 000.</li> </ul> <p>Professional clients have the necessary expertise to make their own investment decisions and to assess and bear the financial consequences of any risks.</p> </div> </li> <li> <h3 class="list-accordion-title">Eligible counterparties</h3> <div class="list-accordion-content"> <p>These are professional clients (for example investment companies, credit institutions, pension funds, central banks, etc.) which operate in the financial sector and are therefore deemed to have the necessary investment expertise.</p> </div> </li> </ul> <p><b>How to change your client category</b></p> <p>Clients have the possibility of asking for the following changes of category:</p> <ul class="list-check"> <li>Switch between professional and retail client categories: a retail client may forego part of the protection and request to be considered as a professional client. Inversely, a professional client may ask for the higher degree of protection of retail clients</li> <li>Switch between professional and eligible counterparty categories: a professional client may ask to be considered as an eligible counterparty and vice versa.</li> </ul> <p>You can request your Relationship Manager to change your client classification. BIL will decide at its discretion whether to refuse or accept your request and reserves the right to change client classifications on its own initiative.</p> </div> </div> <!-- section --> <div id="investor-profiles" data-section="Investor profiles" class="section-default"> <div class="page-wrapper"> <h2 class="title-1">Investor profiles</h2> <p>In addition to establishing different <a href="#client-categories">categories of clients</a>, it is essential to have individual investor profiles. This is why MiFID requires financial institutions to request certain information from their clients. In this context, we have drawn up a questionnaire to determine the knowledge and experience in investment products, investment objectives and horizon, financial constraints and financial situation of our retail clients and “on request” professional clients. In addition, the questionnaire enables BIL to determine a client’s ability to bear losses.</p> <p><b>The suitability of products and services for the investor’s profile.</b></p> <p>The Bank must take account of your investor profile when offering your products and services. If your investor profile has already been established with BIL, your Relationship Manager may contact you at some point to update it, especially if it is more than ten years old. If your profile has not yet been established, please make an appointment with your Relationship Manager to do so. Otherwise, BIL will unfortunately no longer be able to provide you with investment recommendations and will be unable to verify that its products and services are suitable for you.</p> <p>There are two types of investor profiles, for natural and legal persons. Joint account holders can choose whose investor profile should be the reference for the joint account. There is also a questionnaire for customer representatives to ensure they invest in products that are appropriate for their level of financial expertise.</p> <!--<ul class="list-check"> <li><a href="/Documents/documentation-legale/profil-investisseur-personne-physique-en.pdf" target="_blank">Investor profile for natural persons</a></li> <li><a href="/Documents/documentation-legale/profil-investisseur-personne-morale-en.pdf" target="_blank">Investor profile for legal persons</a></li> <li><a href="/Documents/documentation-legale/profil-investisseur-cotitulaire-en.pdf" target="_blank">Reference investor profiles for joint account holders</a></li> <li><a href="/Documents/documentation-legale/questionnaire-connaissance-experience-instruments-financiers-en.pdf" target="_blank">Questionnaire on investor knowledge and experience of financial instruments for representative third parties</a></li> </ul>--> <!-- <p><b>Further information</b></p> <p>Brochure on risk in financial instruments (link from brochures section)</p> --> </div> </div> <!-- section --> <div id="investment-services" data-section="Investment services" class="section-default is-silver"> <div class="page-wrapper"> <h2 class="title-1">Investment services</h2> <p><b>When providing advisory or discretionary management services</b>, BIL may only recommend investment products corresponding to your <a href="#investor-profiles">investor profile</a> to ensure a product is suitable for you. In other words, BIL must take into account your knowledge and experience as well as your financial situation. This includes your ability to bear losses, your investment objective and your level of risk tolerance. When providing investment advice, a suitability test will be carried out and BIL will provide you with a suitability statement before each transaction. This suitability test enables BIL to ensure that the risk level of your portfolio corresponds to your risk profile.</p> <p><b>When the investment service provided is a service other than investment advice or portfolio management</b>, BIL is required to carry out an appropriateness test in order to verify that you as a retail client have the necessary financial knowledge and experience to understand the risks involved in investing in a complex product. No appropriateness or suitability testing is required for execution only services, provided they concern non-complex financial instruments such as listed shares, non-structured UCITS shares as well as listed bonds and money-market instruments without embedded derivatives.</p> <p>More information on BIL’s investment products can be found <a href="#simplified-offer">here</a> <br>More information on the suitability reporting can be found <a href="#client-reporting">here</a></p> <p><b>The Best Execution principle</b></p> <p>BIL ensures client orders are executed on the most favourable terms for our clients. The best execution venue is determined with regard to price, cost, speed, likelihood of execution and settlement, the size and type of the order, the nature of the client and any other consideration relevant to the execution of the order.</p> <p>BIL has formalised its <a href="/Documents/documentation-legale/bep-en.pdf" target="_blank">Order Execution Policy/Best Execution Policy</a>, which all investors should read carefully.</p> <p><b>Further information</b></p> <!--<p><a href="/Documents/documentation-legale/conditions-generales-en.pdf" target="_blank">BIL general terms and conditions</a>--> <p><a href="/Documents/documentation-legale/procedure-reclamations-en.pdf" target="_blank">Claims information</a> <br><a href="/Documents/documentation-legale/politique-conflits-interets-en.pdf" target="_blank">Conflict of interest</a></p> </div> </div> <!-- section --> <div id="client-reporting" data-section="Client reporting" class="section-default"> <div class="page-wrapper"> <h2 class="title-1">Client reporting</h2> <p><b>Clear and comprehensive information at all levels.</b></p> <p>BIL provides you with adequate information at all stages of the execution of your transactions. Our objective is to enable you to make informed investment decisions by providing you with detailed, transparent information.</p> <p>To this end, BIL has upgraded and extended its current client reports and reporting processes.The reports include increased disclosure regarding the services provided, financial instruments, the proposed investment strategy and costs and charges. Clients will also benefit from new reporting based on loss thresholds, the revised client classification and pre-trade suitability.</p> <p>Here is an overview of the new client reports that will be introduced in line with MiFID II:</p> <ul class="list-check"> <li>Pre-trade suitability report: BIL will provide a report to retail clients that includes an outline of the advice given and how the recommendation provided is suitable for them, including how it meets the client’s objectives and personal circumstances with reference to the investment term required, the client’s knowledge and experience, the client’s attitude to risk and their capacity for loss.</li> <li>Post-trade suitability report : this report is used to check whether a client portfolio still corresponds to the client’s predefined risk profile following the execution of an order.</li> <li>Pre trade costs & charges reporting: this document lists all the costs and charges associated with the investment services provided to clients, as well as all costs and charges incurred in relation to the financial instruments we offer. The indicated costs are a reasonable estimate of the actual charges. Third party payments are disclosed separately. For investment services, an illustration will show the cumulative effect of costs on return.</li> <li>Execution reporting: for each order completed, the client will receive a detailed report.</li> <li>10% loss reporting : the client will be informed if the portfolio loses 10% of its value (or a multiple of 10%) if they have chosen a discretionary management mandate or if, as a retail client, their investments in instruments using leverage and/or contingent liabilities<sup>1</sup> lose more than 10% of their value (or a multiple of 10%).</li> <li>Post trade reporting: the client will be sent a more detailed asset report. This will summarise all their investment activities and show to what extent assets increased or decreased in value during the period under review. If the client benefits from a discretionary management service, the report will also include information regarding trends on the major financial markets, including, in particular, two listed index funds that can be compared against the performance of their portfolio for both the bond and the equity market .</li> <li>Post trade costs & charges reporting : this report states the exact amount of all costs and charges associated with the investment services provided to clients, as well as all costs and charges incurred in relation to the financial instruments we offer. Exact amount of third party payments are disclosed separately. For investment services, an illustration will show the cumulative effect of costs on return.</li> </ul> <p>The reports will be available on <a href="/en/individuals/products-and-services/managing-day-to-day-finances/Pages/online-bank.aspx">BILnet</a>.</p> <p><small><sup>1</sup>Contingent liability transactions can potentially result in financial or other liabilities for the investor that exceed the cost of acquiring the instrument. </small></p> </div> </div> <!-- section --> <div id="simplified-offer" data-section="Simplified offer and pricing" class="section-default is-silver"> <div class="page-wrapper"> <h2 class="title-1">Simplified offer and pricing</h2> <p>There will be a new, simplified set of BIL investment products with a revised, standardised pricing structure that is better adapted to your individual needs.</p> <p>BIL will provide you with ex-ante and ex-post information on all costs and charges for provided investment services as well as for the manufacturing and managing of financial instruments. Third party payments are disclosed separately. For investment services, an illustration will show the cumulative effect of costs on return.</p> <p><b><a href="/investmentproducts/index-en.html">Further information</a></b></p> </div> </div>