| Country Manuals Private Banking We would like to inform you that BRP has updated its COUNTRY MANUAL PRIVATE BANKING for the following jurisdiction: SPAIN OUT OF EEA (Def, RS, BT & RT) The BRP approach to the Country Manuals EEA has been redesigned to reflect the underlying principles of harmonisation of EU law and of EU passporting more in detail. In application of the new approach, the Country Manual has been reviewed to ensure that the content of all the documents remains accurate and in line with the evolving interpretation of the current legal and regulatory framework. Regulatory Summary The regulatory summary now contains an overview on the freedom to provide services, including principles such as the home country rules and mutual recognition. It explains the concepts and risks of general good provisions and mandatory consumer protection rules and lists the relevant provisions for cross-border services from an EEA country into Spain. It also contains a chapter on collaboration with third parties in Spain, namely finders, business introducers, tied agents and EAM (as far as the promotion of the custody account of the foreign Bank is concerned). Regulatory and Behaviour Template These two documents have been streamlined in order to reflect the principles laid down in the regulatory summary. The structure of the behavior template has not been changed. The regulatory template continues to explain in detail the applicable principles along the live cycle of a client relationship, with particular emphasis on the main regulatory restrictions and conditions. Best regards, |
