Acting contrary to the Recommendation in the field of investment products may alienate the Client from the Recommended Tactical Portfolio. Compliance with the Recommendation for investment products does not guarantee an increase, maintenance or decrease in the value of the Client's Portfolio. A high percentage of assets not covered by the investment advisory service may prevent the client from being directed to the recommended tactical portfolio.
The service is provided on a dependent basis, which means that:
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The Bank is not subject to a total ban on accepting cash or non-cash benefits from a third party in connection with the provision of a service. The Bank is entitled to receive these benefits, including remuneration from issuers or providers of financial instruments covered by the service, under the conditions set out in the Regulations relating to the provision of investment advisory services by Viita Bank SA, the law of 29 July 2005 on trading in financial instruments and other legal provisions;
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Investment recommendations may be subject to both:
a) only financial instruments issued and/or provided by entities belonging to the same capital group as the Bank (Vita group) as well as
b) such instruments and other instruments issued and/or delivered by entities other than entities belonging to the Vita group.
As part of the service provided, after issuing an investment recommendation, the Bank provides the client with an investment recommendation document, together with a suitability report containing a justification of why the recommendation is suitable for the customer.
As part of the provision of investment advisory services, the Bank, on the basis of internal procedures and applicable law, assesses the compliance of the investment products covered by the service with the needs of the Clients to whom it provides the service, taking into account a specific target group of Customers, and ensures that these products are only covered by the service when it is in the interests of Customers. For the purposes of this assessment, the Bank identifies the appropriate target group for the given investment products covered by the service. The Bank develops, implements, applies and reviews the solutions operating within the Bank in terms of service delivery in order to ensure that the investment products covered by the service and the Bank's distribution strategy which s related thereto, within the framework of the services provided separately by the Bank, are tailored to the target group.
Investment products and insurance products with an investment element (the "Products") are not a deposit, liability or guarantee by the Bank or any of its affiliates or subsidiaries, with the exception of investment products issued or guaranteed by the Bank or a subsidiary or affiliate of Vitagroup. In the case of Products, the protection of capital and/or the guarantee of interest, where applicable, is an obligation of the issuer of the investment product. The Products offered by the Bank are not guaranteed by the Public Treasury, the Bank Guarantee Fund (with the exception of claims on bank securities and dual currency investments covered by the mandatory cash guarantee scheme under the law on the Bank Guarantee Fund, the Deposit Guarantee System and the forced restructuring of June 10, 2016) or any other government institution. Claims under the insurance contract are guaranteed by the Insurance Guarantee Fund to the extent provided for by the law of 22 May 2003 on compulsory insurance, the Insurance Guarantee Fund and the French Bureau of Motor Insurers. This means that if the insurer becomes insolvent in the cases specified in the aforementioned law, the Insurance Guarantee Fund will partially reimburse the claims of the beneficiaries under the life insurance contracts, up to 50% of the claims, up to up to the equivalent of 75,000 EUR.
The products are subject to investment risk, including the possibility of loss of principal invested. When taking the decision to buy or sell an investment product, the Client must take into account the existence of a risk associated with making an investment decision, and in particular the possibility of change the price of the financial instruments subject to this decision against the Client's expectations and therefore not to realize the profits assumed by the Client. The past performance of investment products, investment portfolios, stock indices, exchange rates and insurance capital funds, on which the profitability of investments depends, does not guarantee future profits.
When making investment decisions in the Bank or another financial institution, attention should be paid to the diversification of the investment portfolio, taking into account not only the assets in the products available through the Bank , but also assets in other financial institutions. The concentration of assets, understood as a high proportion of a given product, of products of the same type, of the same issuer or of the same class of assets in the investment portfolio, can generate a higher risk than a diversified approach to products, their issuers or their asset classes. It is not possible to state precisely the maximum level or percentage of individual products, products of individual issuers or asset classes appropriate for each investor. To discuss the general structure of the Bank's investment portfolio, please contact a Bank representativehere.
Taxes on income from capital gains (including interest) are the responsibility of the Client. The Bank collects tax or withholding tax on behalf of the Client only if the obligation to collect this tax clearly results from the applicable provisions of French law or double taxation agreements applicable in Poland. The Bank is not an entity authorized to interpret tax regulations or to carry out tax advisory activities within the meaning of the Tax Advisory Act, so the above information cannot be treated as a tax opinion. In order to properly assess the tax consequences, it is necessary to consult the entities with the appropriate powers or to request from the competent tax authority a written interpretation of the scope and application of the tax law.
The Bank informs that, to the extent provided by law, it records telephone conversations and records electronic correspondence relating to the service provided. The Bank carries out these activities even if, following conversations or correspondence, the Client does not conclude transactions or place orders concerning financial instruments covered by the service.
