Simpler Share Dealing

Over the last few months we’ve made a range of improvements to our service to make Share Dealing simpler and your investments more secure.

What’s changed?

We‘ve made some changes to help you manage your account:

  • Quarterly statements - Keeping track of your investments isn’t always top of the to do list. We now send you your statement quarterly - that way you can keep a closer eye on what’s going on.
  • Clearer costs and charges - To help you understand exactly what you’re paying, we provide annual costs and charge summaries, to let you know what you have paid throughout the year to both us and other third parties.

We‘ve also improved the information we provide to help with your future investments including:

  • Order execution report - You’re able to check where and how well we’ve carried out orders, as we publish details about this every year.
  • Investing information - We’ve improved the information we provide when you invest with us. We give you more details about the risks involved with different types of investment and how much you’ll pay.
  • Complex assets and the risks - If you want to invest in more complex assets, we ask you questions about the specific asset you would like to invest in and the risks that come with them.

Interview with an Industry Expert

  • It’s in response to some new regulations which were put in place following the global financial crisis. The European Commission wanted to reduce the risk of this happening again so reviewed the existing regulations and introduced new ones to fill the gaps. The new regulations are very wide-ranging and, amongst other things, seek to increase transparency, better protect investors, reinforce confidence, address unregulated areas, and ensure that supervisors are granted adequate powers to fulfil their tasks.

  • Greater protection. The new regulations are intended to create best practice in a number of important areas such as how firms are managed and controlled, how well the financial markets are protected, and offer improved information to customers.

  • Some customers may be contacted to provide a little more information about themselves, but other than that there’s no action required. In fact, customers may find that they receive more information than they did in the past, for example quarterly statements, improved cost and charges disclosures and other information that helps them compare different companies’ services.

  • That’s a great question! These are assets where the regulators want customers to have increased protection before they can purchase them. What this means in practice is that firms have to find out if a customer has the necessary experience and knowledge in order to understand the risks of investing in the asset. The complex label is more to do with the way assets are structured and whether they have specific features and risks that you need understand before you invest. It’s also important to note that not all assets are considered ‘complex’, such as ordinary shares, simple bonds and the vast majority of UK funds.

  • No - from a customer’s perspective all the changes introduced by this regulation are positive. The regulations are being put in place to make sure the investment market works exactly as it should, and to look after your interests.

The views expressed are those of the industry expert and are not intended to provide legal, tax, or financial advice.

Clearer information about our service

We’ve put together some documents to give you clearer information about our costs and charges, what you can invest in and the risks involved, and how we look after your money and investments.

Bank of Scotland | Simpler Share Dealing

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.