Markets in Financial Instruments Directive II (MiFID II) and Swiss FinSA Regulatory Information

The revised Markets in Financial Instruments Directive II (MiFID II) and the accompanying Markets in Financial Instruments Regulation (MiFIR) is a European Directive that came into force on 3 January 2018.

It is a comprehensive regulatory regime which affects how firms carry out investment business and ancillary activities, organise their internal systems and controls, and conduct business with their customers across the European Economic Area.

The Swiss Financial Services Act (FinSA) seeks to protect clients of financial service providers and to establish comparable conditions for the provision of financial services by financial service providers, and thus contributes to enhancing the reputation and competitiveness of Switzerland’s financial centre.  FinSA applies to persons providing financial services commercially in Switzerland or for clients in Switzerland.  The Act establishes the requirements for honesty, diligence, and transparency in the provision of financial services and governs the offering of financial instruments.  Financial instruments are defined to include equities (including participation certificates, dividend rights certificates, convertible bonds) and debt securities, derivatives, units in collective investment schemes, structured products, and certain types of deposits.  FinSA was enacted in 2020 and its provisions come fully into force after a transition period ending 1 January 2022.

BNY Mellon is required to provide information to our clients about certain of these MiFID II and Swiss FinSA provisions. Updates to this information will be published on this webpage.

• MiFID II - Ex-Post Disclosure Statement Guidelines
• EMEA Regulatory Information Document
• EMEA Systematic Internaliser status
• Frequently Asked Client Questions - MiFID II Regulatory Information Document
• EMEA Order Handling and Execution Policy (effective 1 Nov 2019)
• EMEA Order Handling and Execution Policy – List of Execution Venues (effective 1 Nov 2019)
• 2021 MiFID II RTS 28 Reports - Professional Clients
• 2020 MiFID II RTS 28 Reports - Professional Clients
• 2019 MiFID II RTS 28 Reports - Professional Clients
• MIFID II RTS 27 Reports and accompanying Notes for BNY Mellon Capital Markets EMEA Limited
• MIFID II RTS 27 Reports and accompanying Notes for The Bank of New York Mellon London branch
• MIFID II RTS 27 Reports and accompanying Notes for The Bank of New York Mellon SA/NV
• The Bank of New York Mellon, London Branch Financial Instruments (excluding Derivatives) Brokerage Terms (effective 1 January 2022)
• The Bank of New York Mellon, London Branch Financial Instruments (excluding Derivatives) Brokerage Terms (effective 30 September 2022). These Terms & Conditions will apply to fixed income brokerage and execution services provided by The Bank of New York Mellon, London Branch from 30 September 2022. 
• Maximum Commission from BNY Mellon Capital Markets LLC to The Bank of New York Mellon, London Branch (effective 9 December 2019)
• Maximum Commission from BNY Mellon Capital Markets LLC to The Bank of New York Mellon, London Branch (effective 30 September 2022)
• FX Disclosures
• Swiss FinSA