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.