Confederación Española de Cajas de Ahorros
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MiFID policies for the provision of investment services
In order to comply with the Spanish legislation in force (legislation which has transposed MIFID) CECA has adopted several policies which should be complied when providing investment services to clients. Such policies comply with clients protection objectives defined by MiFID.
Enclosed you may find a summary of the best execution policy adopted by CECA.
Investment Services Model-Agreements
In order to comply with Article 9 of Order EHA/1665/2010, enclosed you may find the securities administration and custody Model-Agreement registered by CECA before the Spanish Securities Markets Commission (CNMV).
Moreover enclosed you may also find an annex modifying the Model-Agreement which should be as well signed by all clients as of September 2008. Such annex was shaped in order to adapt the content of the Model-Agreement to what was required by Royal Decree 217/2008, complying also with one of the possibilities offered by the Spanish Supervisor on its communication dated September 2008 regarding Model-Agreements.
Warming for retail clients investing in international securities
CECA operates in international markets where global accounts are normally used. Consequently, enclosed you may find the necessary warming in relation with these practices.