New regulatory requirements from January 2018 – what they mean for you
From the beginning of 2018, two new sets of financial services regulations will be introduced;
- Applicable to Investment Trust only - Packaged Retail and Insurance-based Investment Products (PRIIPs)
- Market in Financial Instruments Directive II (MiFID II)
Packaged Retail and Insurance-based Investment Products (PRIIPs)
The PRIIPs regulations, which come into effect on 1 January 2018 aim to make the financial services more transparent across Europe.
What this means for you?
You will be presented with a Key Information Document (KID) which you must read prior to investing in any J.P. Morgan Investment Trust. The KID provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. You need to read the relevant KID for the investment product you are looking to invest in before making a decision.
Market in Financial Instruments Directive II (MiFID II)
The MiFID II regulations, which come into effect on 3 January 2018 aim to make the financial services more transparent across Europe.
What this means for you?
You will be presented with a Pre-Sale Cost & Charges document which you must read prior to investing in any J.P. Morgan OEIC Fund or Investment Trust. The Pre-Sale Cost & Charges document provides you with the costs and charges applicable to a specific investment product. It is not marketing material. The information is required by law to help you understand the applicable product and service costs and the effect of the costs on the return of your investment. You will need to read the relevant pre-sale costs and charges document for the investment product you are looking to invest in before making a decision.
Additional client information required by 3 January 2018J.P. Morgan is required to collect and record the following information from you in order to execute investment trust transactions on your behalf:
- Your nationality
- Your National Insurance number - If you are not a British national, please refer to the table below for alternative details we can accept
Additional client information form
Please return completed forms to the following address:
J.P. Morgan Asset Management
Client Administration Centre
PO Box 12272
Chelmsford CM99 2EL
What happens if I do not provide the additional details by 3rd January 2018?If we do not receive this information before 3rd January 2018, it may cause delays with dealing instructions, and mean we will be unable to place trades (either buying or selling) in our J.P. Morgan Investment Trust range on your behalf.
I am not a British national - what details should I provide?
If you are not a British national, please refer to the table below for the details we can accept
Do I need to provide the additional details if I only hold funds (OEICs)?No, the additional client details are only required if you are investing in our investment trust range.
What if I have a joint account?In the case of joint accounts, where this information is required from other holders we will contact each one separately.
What If I am unable to provide any of the additional information required?If you are unable to provide details of your nationality or the additional information required, please contact us on 0800 20 40 20 or + 44 1268 44 44 70 with your account details to hand. Our telephone lines are open Monday to Friday, 9am to 5.30pm.
What will you do with my information?
Any further questions?If you have any further questions relating to the new regulations, please call our UK-based Investor Services team on 0800 20 40 20 (or +44 1268 44 44 70) with any questions you have. Our lines are open Monday to Friday, 9.00am to 5.30pm. If you are an existing client please have your account details to hand.
The value of your investments and the income from them can go down and up, and you may not get back as much as you paid in.
In order to make an informed investment decision, investors should ensure that they obtain all relevant information before making any investment. Investment is subject to applicable documentation including Investor Disclosure Document, Key Investor Information Document (KIID), Prospectus and Key Features and Terms and Conditions.