Information for investors | Luminor

MIFID II Directive

The initial Directive of the European Parliament and of the Council on markets in financial instruments (hereinafter MiFID) came into force in 2007. This directive is binding for all the European Union member states and its aim is to make financial markets more efficient, resilient and transparent, and to ensure the highest level of investor protection.

On 3 January 2018, the MiFID II Directive came into force with additional requirements aimed at improving the efficiency of the financial markets, transparency and strengthening the protection of investors.

The Law on Financial markets of the Republic of Latvia ensures MiFID II compliance in Latvia.

MiFIR Regulation

Regulation of the European Parliament and of the Council on markets in financial instruments (hereinafter MiFIR) is binding for all the European Union member states. MiFIR contains rules and guidelines for transaction execution and financial instrument trade transparency.


If you use, have used or plan to use any of the investment services offered by the bank, MiFID II, MiFIR and the national legislation influences your cooperation with our bank as well. In order to ensure as transparent and effective cooperation related to financial instruments as possible, Luminor invites you to familiarize yourself with the information provided herein.
Important documents

 Client Classification Policy (effective as of 01.02.2018)
 Order Execution Policy (effective as of 01.02.2018)
 Order Execution Policy Summary (effective as of 01.02.2018)
 Conflicts of Interest Policy (effective as of 15.02.2018)
 An overview of financial instruments and the risks related to them (effective as of 01.02.2018)
 Information on financial instruments’ custody and guarantees for investors (LV)
 Inducement Policy for the Provision of Investment and Ancillary Services (effective as of 01.02.2018)
 Order execution venues (effective as of 01.02.2018)

FAQ

What is Client Classification Policy? 

In line with MIFiD requirements, the Client Classification Policy stipulates that a status of a Retail customer, a Professional customer or an Eligible counterparty should be assigned to each client. The aim of the Client Classification Policy is to define the criteria of clients’ classification, the order of changing the status, as well as the level of protection corresponding to each client’s status. Clients which are classified as Retail customers are provided with the highest level of investors’ protection.

What is Order Execution Policy?

The Order Execution Policy defines the guidelines for order execution, so that clients’ orders are executed on the most favourable conditions for the client. The policy also describes the order execution procedure of the bank. The client must give his consent to the bank’s Order Execution Policy to trade financial instruments.

What is Conflicts of Interest Policy?

The Conflicts of Interest Policy stipulates all necessary and possible actions to identify and mitigate possible conflicts of interest, which could be harmful to clients’ interests in transactions related to investment services and/or ancillary investment services.

Top 5 Execution Venues and Entities, 2017

Top 5 Execution Venues:
Retail Clients
 PDF  Excel
Professional Clients
  PDF  Excel

Top 5 Execution Entities:
Retail Clients
 PDF  Excel 
Professional Clients  
 PDF  Excel

Payments from third parties

Luminor informs you that it receives payments from third parties (inducements) for clients’ investments in specific investment products. Bank emphasizes that the aim of these payments is to increase the value of service provided to clients and they do not influence the bank’s obligation to achieve the best possible results for clients when providing investment services to them. The inducement provided by DNB Asset Management S.A. for the distribution of DNB funds is up to 50% of the management fee stated in Key Investor Information Document.

Top 5 Execution Venues and Entities, 2017

Top 5 Execution Venues:
Retail Clients PDF, Excel
Professional Clients PDF, Excel

Top 5 Execution Entities:
Retail Clients 2017 PDF, Excel 
Professional Clients  PDF, Excel