Disclosures

Markets in Financial Instruments Directive:  Investment Bank EMEA

Markets in Financial Instruments Directive ("MiFID") replaces the Investment Services Directive of 1993 and comes into effect throughout the European Economic Area ("EEA") on November 1, 2007.  MiFID is the next step in the development of an integrated financial market in the EEA.  MiFID will revise national legislation in Member States within EEA with the aim of harmonising the regulation of financial services across the EEA.

MiFID covers three basic areas:

(i) Conduct of business which includes rules governing best execution, client categorisation, suitability/appropriateness, inducements, transaction reporting requirements, client order handling, marketing.

(ii) Organisation which includes rules regarding licensing, cross-border pass-porting, compliance arrangements, risk management, outsourcing, record-keeping, client assets, conflicts of interest, systems and controls, governance.

(iii) Equity Market Transparency which includes rules regarding pre-trade transparency,  post-trade transparency, systemic internalisation.

View additional information on the MiFID - overview and key requirements.

We are required to provide certain information to our clients including our Execution Policy and information on product disclosures.  We will publish updates to this information on this webpage.

• Execution Policy
• Product & Risk Disclosures

For further information on the above or MiFID, please contact your JPMorgan relationship manager or email the JPMorgan MiFID Team