Changes in the Financial Instruments Account Opening and Maintenance Rules

We kindly inform you that changes in the Financial Instruments Account Opening and Maintenance Rules of AS DNB banka will come in force on April 29, 2016.

 The changes clarify the rules, introduce term “Bank’s working hours”, substantially clarify terms “Financial Instruments Account” and “Current Account”, as well as provide for the following changes:

• determine the information on investment service which is provided to the customer, provide for the order of making changes in this information and the ways this information is provided;
• stipulate the obligation of the client to provide information on his knowledge of and experience in the transactions and operations performed in the course of providing investment service, as well as the obligation to regularly renew this information;
• clarifies how orders may be submitted;
• stipulate the rights of the bank to reserve financial instruments and funds in the client’s account till the settlement day;
• specify the cases when the bank has the rights to deny order execution;
• specify the information on financial instruments account state and transactions executed that is provided to the customer;
• provide for financial collateral regulation by stipulating the rights of the bank to sell customer’s financial instruments, if the customer does not fulfil his payment obligations with respect to the bank; 
• clarify the bank’s responsibility;
• define the process of terminating a financial instruments account agreement and closing financial instruments accounts.

Information on changes in the Financial Instruments Account Opening and Maintenance Rules is also available in the branches of AS DNB banka as well as by calling +371 67 17 1880.