On 3rd January 2018, the Market in Financial Directive (MIFID II) came into effect. Find out what this means for you.

Guide to nationality - woman with an ipad

If you trade with us in collectives or insured funds only, you don’t need to take action.

On 3rd January 2018 the Market in Financial Instruments Directive (MIFID II) came into effect. This is regulation which is a key part of a package of European Union (EU) laws aimed at creating a single, more competitive market in financial services across all EU member states.

Aegon won’t process trades for Equities, Exchange Traded Funds (ETF’s) or Investment Trusts unless we have certain unique identifiers. These identifiers apply for the buyer/seller and the person who makes the decision on a investment transaction.

National Client Identifier

We need your National Client Identifier (NCI) if you want to trade in any of the investments above.

If you're a British National, this is made up of your nationality (prefix 'GB') and national insurance number. If you're not a British National or have dual nationality, you'll need to confirm which countries you're a national of.

Decision maker

When we identify who the decision maker is we're able to confirm who can trade on your behalf.

Advisers can only act on your behalf, in a discretionary capacity, if they have supplied us with details of their Legal Entity Identifier (LEI). This is known as a discretionary mandate. 

You can find out more about LEI through the Financial Conduct authority.

Here's a handy guide to show the key differences between trades placed by you or your adviser.

Guide to nationality table
Who Places Trade Who is Buyer/Seller Who is the Decision Maker
Customer Customer - NCI Customer - NCI
Adviser – non discretionary Customer Customer - NCI Customer - NCI
Adviser - discretionary Customer - NCI Adviser - LEI

If you’re unsure what applies to you, please contact our customer services team who can help you with this.

Power of Attorney

If you have a Power of Attorney or Power of Representation, we'll need to verify them.

For individuals, we'll need their NCI, for an investment professional or firm, we'll need their LEI.

If you're unsure which of these applies to you, our customer services team are here to help.