What is MIFID II?

New industry-wide legislation was introduced on 3 January 2018 that may affect your ability to trade on Smart Investor. If you’re confused by the changes, we explain everything you need to know below.

Background to the information we provide you on costs and charges relating to your investments

Since January 2018, as a result of new regulation introduced to the financial services sector (MiFID II), we have provided you with indicative costs in relation to your investments prior to each trade. This is known as an ex-ante disclosure.

Moving forward, in order to provide you with greater transparency we will also send you an annual summary of the actual costs and charges you have paid between 1 January and 31 December each year for these investments. This is known as an ex-post disclosure, and we will include it within your annual statement.