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How will MiFID II impact investors?

11 December 2017

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How will MiFID II impact investors?

On 3 January 2018 a new regulation, the Markets in Financial Instruments Directive II (MiFID II), will be implemented. MiFID II aims to improve investor protection and transparency across the financial markets in the European Union.

The regulation has introduced some changes to the way in which we are required to collect and report information to investors. In our Guide to MiFID II, we have summarised the key changes that will impact clients in the following services:

• Downing EIS funds

• Downing Estate Planning Service

• Downing AIM Estate Planning Service

• Downing AIM ISA


Crowd Bonds

Downing Crowd Bonds will not be affected by the main changes resulting from MiFID II. We can no longer pay commission for advising clients on Downing Crowd Bonds but we will continue to facilitate adviser fees. We can continue to pay commission for execution-only and introduced clients (i.e. where they select their own Bonds).


Further information

For more information, please read our Guide to MiFID II.

If you require any further information about the changes mentioned in the above Guide, please contact compliance@downing.co.uk.

Important Notice

Investing in our products will place your capital at risk and you may not get back the full amount invested. Any tax treatment may be subject to change and the availability and value of the reliefs depend on the individual circumstances of each investor. The availability of tax reliefs also depends on the investee companies maintaining their qualifying status.

Further information can be found at HMRC’s website. Neither past performance or forecasts are reliable indicators of future results and should not be relied upon. Unquoted or smaller company shares are likely to have higher price fluctuations and are likely to be more difficult to sell than shares quoted on the London Stock Exchange Official List. Website content is not intended to constitute investment, tax or legal advice. We recommend you seek independent advice before investing in any of our products.

Important Notice

Downing’s investments place your capital at risk and you may not get back the full amount invested. Past performance and forecasts are not a reliable guide to future results. Tax treatment may be subject to change and depends on individual circumstances. Smaller company shares are likely to have higher volatility and liquidity risks than other types of main market listed instruments. We recommend that you seek professional independent financial advice before investing. We do not offer investment or tax advice.

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