Regulatory Disclosures

Riesant Bank plc is a public limited liability company incorporated in Malta (LEI 213800ERZEB16772WR39) with its registered office at 48 Merchants Street, Valletta, and its principal client centre in Sliema. The Bank is authorised and regulated by the Malta Financial Services Authority (the MFSA).

The Bank holds a credit institution licence under the Banking Act, Chapter 371 of the Laws of Malta, permitting it to accept deposits and to grant credit. It is separately authorised to provide investment services under the Investment Services Act, Chapter 370 of the Laws of Malta. These authorisations are subject to the MFSA's rules and to the directly applicable requirements of European Union law.

As a credit institution and investment firm established in Malta, the Bank's business is governed by, among other instruments, the Markets in Financial Instruments Directive (MiFID II), the General Data Protection Regulation (GDPR), and the European Union's anti-money-laundering framework. The Bank provides services to clients across 23 EU and EEA countries. Its Business Identifier Code is RIESMTM1, and the international bank account numbers it issues begin with the Malta country prefix, MT.

The Bank maintains and operates a conflicts-of-interest policy designed to identify, prevent and manage conflicts that may arise between the Bank (including its managers, employees and any person directly or indirectly linked to it) and its clients, or between one client and another, in the course of providing banking and investment services.

Organisational and administrative arrangements include the separation of functions whose simultaneous involvement could give rise to conflicts, controls over the exchange of information where that exchange might harm a client's interests, the independent oversight of staff carrying out potentially conflicting activities, and the management of personal account dealing, inducements, gifts and outside business interests.

Where the arrangements in place are not sufficient to ensure, with reasonable confidence, that a risk of damage to a client's interests will be prevented, the Bank will disclose the general nature and sources of the conflict, and the steps taken to mitigate it, before undertaking the relevant business, so that the client may make an informed decision. A summary of the conflicts-of-interest policy is available to clients on request.

When executing or transmitting client orders in financial instruments, the Bank takes all sufficient steps to obtain the best possible result for the client on a consistent basis. In doing so it considers price, costs, speed, likelihood of execution and settlement, the size and nature of the order, and any other consideration relevant to its execution.

For retail clients, the best possible result is determined in terms of the total consideration, comprising the price of the instrument and all expenses incurred by the client that are directly related to execution, including execution-venue fees, clearing and settlement fees, and any other fees paid to third parties involved in the execution of the order.

The Bank handles comparable client orders promptly, fairly and in the order in which they are received, unless the characteristics of the order or prevailing market conditions make this impracticable, or the client's interests require otherwise. The Bank's order execution policy, including the execution venues and entities on which it places significant reliance, is provided to clients and reviewed at least annually and whenever a material change occurs that affects the Bank's ability to obtain the best result.

The Bank provides clients with information on all costs and associated charges relating to its services and to the financial instruments concerned, both before services are provided and, where applicable, on a periodic basis thereafter. This information is aggregated to allow the client to understand the overall cost and its cumulative effect on the return of an investment, and is itemised on request. Standard rates applicable to the Bank's services are set out on the rates page.

The Bank does not accept or retain payment for order flow. It does not route client orders to any venue or counterparty in exchange for payment, rebate or other consideration that would compromise its best-execution obligations.

The Bank does not retain commissions, retrocessions or other monetary inducements received from third parties in connection with the portfolio management and independent investment advice it provides. Any such amounts received are returned to the client in full as soon as reasonably practicable, and the client is informed of the amounts transferred. Where minor non-monetary benefits are received, they are limited to those capable of enhancing the quality of service and are disclosed.

In accordance with MiFID II, the Bank categorises each client as a retail client, a professional client, or an eligible counterparty. The category determines the level of regulatory protection afforded, including the extent of information provided, the application of best-execution and appropriateness or suitability assessments, and the protections available under the investor compensation framework.

Retail clients receive the highest level of protection. Professional clients are presumed to possess the experience, knowledge and expertise to make their own investment decisions and to assess the risks they incur, and accordingly certain protections may not apply. Eligible counterparties are afforded the most limited protections in respect of eligible transactions.

The Bank notifies each client of its categorisation and of any right to request a different categorisation. A client may request reclassification, whether generally or for particular services or transactions, recognising that a request for a higher protective category may be granted at the Bank's discretion and that a move to a lower category may result in the loss of certain protections. Any such request, and the Bank's response, is recorded in writing.

The Bank is committed to handling complaints fairly, promptly and consistently. A client who is dissatisfied with any aspect of the Bank's products or services may submit a complaint in writing to the Bank's Complaints Function at 48 Merchants Street, Valletta, Malta, or by the contact channels published on the Bank's website. The Bank will acknowledge the complaint, investigate it, and provide a final written response within the timeframes prescribed by the applicable MFSA conduct rules.

If the client is not satisfied with the Bank's final response, or if no final response is received within fifteen working days of the complaint, the client may refer the matter to the Office of the Arbiter for Financial Services, an independent statutory body established under the Arbiter for Financial Services Act, Chapter 555 of the Laws of Malta. The Office is located at First Floor, Pjazza San Kalċidonju, Floriana FRN 1530, Malta.

A complaint to the Office of the Arbiter must generally be made within the period prescribed by law and after the Bank's internal complaints process has been exhausted. Recourse to the Office of the Arbiter does not affect any right the client may have to pursue the matter before the courts.

Eligible deposits held with the Bank are protected up to a limit of €100,000 per depositor by the Depositor Compensation Scheme, the statutory scheme established in Malta to compensate depositors of a credit institution that is unable to meet its obligations. The limit applies to the aggregate of a depositor's eligible deposits with the Bank. Further details, including the categories of deposit that are excluded from protection, are provided to depositors in the information sheet made available when an account is opened and on request.

Eligible investment business is covered by the Investor Compensation Scheme, the statutory scheme established under Maltese law to compensate clients of a licensed investment-services provider where the provider is unable to return money or instruments it owes or holds on a client's behalf. Compensation under the Investor Compensation Scheme is subject to the limits and conditions set out in the applicable regulations.

Both schemes are intended to address the failure of the relevant institution to meet its obligations. They do not compensate for investment losses arising from market movements or the ordinary performance of financial instruments. The Bank will provide clients with information on the scheme that applies to a particular product or service on request.