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 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.

• EMEA Regulatory Information Document
• EMEA Systematic Internaliser status
• EMEA Order Handling and Execution Policy (effective 1 Feb 2024)
• EMEA Order Handling and Execution Policy – List of Execution Venues (effective 1 Nov 2019)
• MiFID II RTS 28 Reports - Professional Clients
  
  • MiFID II RTS 27 & 28 Reports and accompanying Notes for The Bank of New York Mellon London Branch
    Effective 1st December 2021, following the implementation of PS21/20 “Changes to UK MiFID’s conduct and organisational requirements”, the requirement to produce RTS 27 and 28 Reports under UK MiFID rules is no longer in force. Reports covering prior periods can be accessed in our report archive.  
  • MiFID II RTS 27 & 28 Reports and accompanying Notes for Capital Markets EMEA Ltd 
    On 28th January 2020, Capital Markets EMEA Limited ceased trading. RTS 27 & RTS 28 reports can be accessed in our report archive.
• MiFID II RTS 27 Reports and accompanying notes for The Bank of New York Mellon SA/NV
• MiFID II - Ex-Post Disclosure Statement Guidelines
• MiFID II - Frequently Asked Client Questions
• 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 Capital Markets LLC to The Bank of New York Mellon, London Branch (effective 30 September 2022)
• FX Disclosures
• Swiss FinSA
• UK Designated Reporter Regime 
• Intragroup Margin Exemption Disclosure Under UK EMIR 

MiFID II RTS 28 Reports - Professional Clients

Effective 1st December 2021, following the implementation of PS21/20 “Changes to UK MiFID’s conduct and organisational requirements”, the requirement to produce RTS 27 and 28 Reports under UK MiFID rules is no longer in force. Reports covering prior periods can be accessed in our report archive.

2023 Reports

2022 Reports

2021 Reports

2020 Reports

2019 Reports

MiFID II RTS 27 Reports

The Bank Of New York Mellon SA/NV

On 16th February 2021 the EU Parliament & Council adopted Directive (EU) 2021/338 (amending directive). This included a temporary suspension of the requirement to publish RTS 27 reports until 28th February 2023.