PRIIPS KID on IB

RobSwe said:
Question. If you are an IB-UK customer and UK finally decides to make Brexit a reality, instead of just talking, that would make UK a non-EU country. Would that change things here or is it the residency/citizenship of the customer that decides ?
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I don't know the answer but I suspect the same way that EU customers were migrated from IB US to IB UK they would have to be migrated from IB UK to some IB Germany or so.
And the situation would remain the same, preventing the ETFs from being negotiated.
 
RobSwe said:
I might have gotten this backwards but isn't May trying to stop Brexit and that is why there were a lot of politicians around her that left in protest ? If true, I'd say there's a probability of >80% that Soros is behind it.
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I thought she is trying to negotiate and she's just not a very good negotiator. EU is getting the upper hand it looks like. People gave her a chance because she promised she will do better but if she's sabotaging this Brexit and not acting according to people's wishes, then she needs to be replaced.
 
Obelixtrader said:
This person has a non-professional status.Still waiting for response from brokerage.
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Yesterday have received message from this bank-broker and they ask me which ETF I have in mind i wrote that US. I hope that today will received answer. Regarding KID
In order to tackle these shortcomings, the EU has adopted a regulation on PRIIPs, which obliges those who produce or sell investment products to provide investors with key information documents (KIDs). That means that every broker who sell investment products can create KID and after then can offer this products to their client there isnt written that only emitent of this securities must create KID. IB has created for some futures products a KID example korean futures products.
 
I have answer. I am little bit suprised that my bank which operate only in Czech republic and in my country Slovakia has better lawyers than bigger brokerage they find hole inthis stupid PRIIPs and thats why they still offer US ETF . i will post this email its in Slovak language will also translate to english.
English translation
if you do not use a personal broker service or portfolio management, you can trade in such shares. Under Article 13 of the PRIIPS, Fio Bank as a product advisor with an investment component is required to provide key investor information (KID) well in advance of any contract the product becomes mandatory.
 

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An irked German (or Luxembourg) customer just called in to IB's quarterly conference call to ask regarding the PRIIPs. It's the last question, so can be found on on the replay around 5 mins before the end of the call. No transcript available yet. Basically, Thomas Peterffy said that they can't do anything about this issue, and suggested he just put enough money into his account so that IB can classify him as an institution...
 
bremer85 said:
How did you do that?
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I opened a ticket at IB and requested to be qualified as professional client. After a couple of days I received two forms which I needed to sign and fill in.

In order to be qualified as professional client you need to satisfy 2 out of the following 3 criteria: a) equity account of min. €50k + having carried out over the previous 4 quarters transactions in significant size, i.e. at an average frequency of 10 trades with a volume of min. €200k, b) account size min. €500k and/or c) worked in the financial sector for at least one year in a professional position which requires knowledge of the transactions or services envisaged.

After I have send back the forms my request was being reviewd by IB's compliance department and approved. One day later all my trade restrictions had been removed.
 
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