Which partners do you work with, and how are they regulated?
Our cooperation partners are Aion Bank S.A. and Finax o.c.p.,
a.s..
Aion Bank operates a branch in Germany and is supervised by the
Federal Financial Supervisory Authority (BaFin) under § 53b KWG.
Our partner for custody and portfolio management is Finax, which
is headquartered in Slovakia and also maintains a branch in
Germany. Regulatory oversight is therefore shared between BaFin in
Germany and the National Bank of Slovakia (NBS). BaFin supervises
activities related to our operations in Germany, such as customer
communication, onboarding, reporting, and communication recording.
Regarding the relevant MiFID regulations, Article 35(8) states
that BaFin, as the competent authority in Germany, ensures
compliance with the obligations under Articles 24, 25, 27, and 28
of MiFID II, as well as Articles 14 to 26 of Regulation (EU) No.
600/2014. BaFin also has the authority to review branch
arrangements and demand necessary changes to enforce these
obligations.
Additionally, KBC Bank NV/SA in Belgium acts as the sub-custodian
for securities.
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