her receivables le.g., lease, rent). unless represented bye tradeable locurity. If Yes Emission allowances, but only until the implementation of MiFID II which is currently expected for 3 January 2018. It Yea Payment instruments (checks and bills of exchange) II Yes Repurchase transactions or sec

onditions for investment ferns and defined terms for the purposes of that Directive), a MiFID II related regulation. Needs to be amended as soon as MiFID II is implemented in German Banking Act (second FiMalloG) with respect to definition of "Financial Instrument". 1 See previous FN. To be expanded to

f the German Cooperative Societies Act Itienossenschaftsgesetzl II Yes If Yes Commodity spot transactions, but only until the implementation of MiFID II which is cutiwaly expected for 3 January 2018. Physically settled commodity transactions, unless traded on a regulated market or MTF, or unless c

thin the meaning of Directive 2002/92/EC, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (ii) not a qualified investor as defined in Directive 2003/71/EC; and (b) the expression "offer" includes the communication in any form and by

creases regulation of trading platforms and firms providing investment services in the European Union. Among its many market infrastructure reforms, MiFID II has brought in: (i) significant changes to pre- and post-trade transparency obligations applicable to financial instruments admitted to trading on

d, the Insurance Mediation Directive" ), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the

tion Form 11. 15 EFTA01399078 Background As communicated by Patrick Campion in late May 2018, as a result of European regulatory changes (e.g. MiFID II, PRIIPs) and to mitigate cross-border risk and market complexity, Wealth Management Americas has conducted an in-depth assessment in order to deter

FID 11") set out new rules applicable to investment activities and investment services carried on in the European Union ("EU"). Among other things, MiFID II mandated broader post-trade transparency in the EU, and extended the market-facing and regulatory reporting requirements on all financial instrumen