MiFID (Markets in Financial Instruments Directive) is the European Directive concerning the market of financial instruments and products, which sets down a uniform legal framework for banks, brokerage houses as well as other brokerage operators in the European Union as well as in Iceland, Norway and Lichtenstein.

The MiFID Directive aims to enhance and harmonise Client protection in banks, increasing consistency and transparency of the operation of banks as well as increasing competitiveness on the financial instruments market.

Any and all information contained in this COMMERCIAL PUBLICATION is purely of information nature and constitutes neither an offering in the meaning of the Act of 23 April 1964 Civil Code, nor a recommendation or an invitation addressed to anyone (or any group of people) to conclude transactions on financial instruments presented in it. In particular the information is not a service of investment, financial, tax, legal or any other advice.

The terms contained in this publication are for orientation. Any prices and/or specimen transactions are for illustration purposes only and do not constitute an offer of concluding a transaction on such terms or the indication that a transaction on these terms is feasible. Moreover, no calculations or results presented in this publication guarantee future profits. The actual terms of a transaction on financial instruments will be based on market terms established at the moment of its conclusion. Any available price quotations or analyses contained in this publication have been prepared on the basis of assumptions and parameters reflecting the assessment or choice made by the Bank. The Bank shall provide no guarantee of precision, completeness or reasonableness of such quotations or analyses.

The recipient of the information in this publication shall exclusively bear the risk of its using in particular with respect to investment decisions on its basis.

Financial transactions involve risk presented in “Description of Risk Involved with Financial Instruments and Products for Private Persons in Bank Millennium S.A.", available in branches and on the Bank’s website www.bankmillennium.pl.

Anyone who purchases a financial instrument shall accept and bear liability under tax obligations resulting from binding regulations. In view of the above risks and circumstances the Bank's clients should have sufficient knowledge and experience to assess the nature of each financial transaction entertained by them and its associated risk. If in any doubt, clients should use the services of a tax, legal or investment advisor. The Bank shall communicate any additional information which will be validly asked for by the Client to enable him the assessment of the risks and nature of the transaction.

The dissemination and distribution of certain financial instruments and trading in them may be subject to certain limitations with respect to certain persons and states, in accordance with appropriate legislation. Financial instruments can be offered and traded exclusively in compliance with the appropriate provisions of law.

Money invested in: Millennium Fundusz Inwestycyjny Otwarty, Millennium Specjalistyczny Fundusz Inwestycyjny Otwarty, Indywidualne Konto Emerytalne Inwestycyjne, Program Inwestycyjny Przyszłość+, Program Inwestycyjny Wygodny Portfel is not protected by the statutory guarantee scheme of Bank Guarantee Fund. Money invested in Lokata strukturyzowana structured deposit, Konto Oszczędnościowe savings account, Konto Oszczędnościowe Profit savings account, Lokata terminowa term deposit, Konto Oszczędnościowe Walutowe foreign currency savings account, and Indywidualane Konto Emerytalne individual savings retirement account is protected by BFG in keeping with the Act of 10 June 2016 on the Bank Guarantee Fund, Deposit Guarantee Scheme and Resolution.