The prevention of money laundering and financing of terrorism: Bison Bank, S.A. is aware of the need to combat organised crime and the laundering of the proceeds of criminal activities, by implementing high levels of protection in the financial sector given the adverse effects of such activities. Accordingly, the Bank acknowledges that the strength, the integrity and the stability of financial institutions, as well as the confidence in the financial system as a whole and the foundations of our society may be seriously impaired by the criminal efforts to disguise the origin of the proceeds of such criminal activities or to direct them for terrorist purposes.
The guiding principle of Bison Bank’s activity is the defence of its integrity and reputation, complying strictly with legislation and regulations and with the ethical standards applicable in the markets in which it operates.
Putting this commitment into practice requires the implementation of a strong corporate culture at all levels of the organisation, together with the establishment and continual updating of a whole set of policies, procedures, codes of conduct and internal controls.
📄Code of Conduct of Bison Bank, S.A.
Bison Bank, S.A., in compliance with the current legal requirements on matters of conflicts of interest and the ethical principles and codes of conduct governing its activity, is bound to strict principles and procedures concerning conflicts of interest. The policy, combined with its annexes, which embody the policy and are an integral part thereof, aims to substantiate the measures and procedures endorsed to identify, prevent, manage and/or disclose any possible Conflicts of Interest in the provision of the different services rendered by the Bank.
More specifically, the Policy seeks to:
This Policy also took into consideration the dimension, organisation, nature and complexity of the activities and services provided by the Bank, as well as all the situations that could lead to Conflicts of Interest as a consequence of the structure and commercial activities of the Controlled Entities and other companies that are part of the economic and financial group in which the Bank is incorporated. Under the terms and for the purposes of the Policy, the definitions listed in Annex I of this Policy are applicable. The provisions established in the Policy do not hinder the application of the provisions stipulated in the Policy on Selection and Assessment of the Suitability of Management and Supervisory Body Members and Key Function Holders of Bison Bank S.A. on matters of Conflict of Interest.
📄 Policy on Prevention and Management of Conflicts of Interest
Bison Bank, S.A. (“Bank”), in compliance with the legal regulations in force regarding conflicts of interest with Related Parties and the demanding ethical and professional principles governing its activities, adheres to strict principles and procedures concerning conflicts of interest. This policy aims to:
Bison Bank, S.A., in the exercise of its activity, guarantees to be endowed with the appropriate material, technical and human resources, allocating to the different functions, the human resources with adequate qualifications and in sufficient number, as well as having information systems that ensure that services are provided under conditions of safety, efficiency and in compliance with legal requirements.
The Markets in Financial Instruments Directive (MiFID) – Directive 2004/39/CE, of 21st April 2004 – was implemented into Portuguese law and came into force on 1st November 2007. The directive was an important milestone in the integration of the capital markets in the European Economic Area. It set up standardised rules for the provision of financial services, with the specific objective of protecting the retail investor.
I. Conduct Rules: including general responsibilities with regards to honest, fair and professional practices that are designed to operate in the clients’ best interest, the obligation to provide information, the principle of best execution of client orders, the obligation to categorise clients and the suitability of the products and services offered by the Bank to the client’s risk profile.
II. Organisational rules: regarding the organisation of financial intermediaries, the MiFID sets out a number of general principles that are designed for good governance, internal control, the protection of clients’ assets, record-keeping, conflicts of interests and the outsourcing of relevant services and functions.
III. Organisation and transparency of equity markets: the regulation of new financial instruments trade facilities, including multilateral trading facilities (SNM or MTF’s), while also making it possible for financial intermediaries to execute client orders on their own portfolios in an organised, standard and systematic way (systematic internalisation). In terms of market transparency, the MiFID sets out a disclosure scheme for pre- and post-trading information. The scheme aims to allow for the public comparison of offers and share prices in the various organised trading facilities.
📄 Order Execution Policy (bilingual version)
The revision of this Directive was published in the Official Journal of the European Union on 12 June 2014 (MiFID II – Directive 2014/65 / EU), together with its respective Regulation (RMIF – Regulation 600/2014). It seeks to fine-tune the changes introduced by MiFID enhancing investor protection, transparency and quality of service and mitigating situations of conflict of interest.
To this end, it sought to ensure the adequate professional qualification of the consultants, to increase independence in the provision of the service, to improve the process of assessing adequacy and to reinforce the informative duties to clients (both pre-contractual and post-contractual).
🔗 Q&A ESMA
Pursuant to the USA Patriot Act requirements of the US Department of Treasury, a US bank or a US broker-dealer in securities (a covered Financial Institution) is required to obtain specific information from any “Foreign Bank” with which it holds a corresponding relationship.
Bison Bank, S.A. is pleased to include its USA Patriot Act Certification on this site to be used by any Financial Institution that may require it.
📄 USA Patriot Act Certification
Common Reporting Standard (CRS) is a general access mechanism and an automatic exchange of financial information. The basis of the regime is to create a general mechanism for the access and automatic exchange of financial information in the field of taxation and to guarantee a deeper mutual administrative cooperation with other Member States of the European Union and other participating jurisdictions with which Portugal must exchange automatic reporting of financial accounts.
Foreign Account Tax Compliance Act (FATCA) is a US regulation, which provides for imposing upon foreign (without registered office in the US) banks and other financial institutions (e.g. insurance companies, brokerage houses, mutual funds) the obligation to inform the US tax authorities about accounts kept for US taxpayers. FATCA is intended to make sure that private persons and entities, who have a US tax obligation, were fulfilling it.
Our Global Intermediary Identification Number (GIIN) is IYWWWK.99999.SL.620, with a FATCA status of Reporting Model 1 FFI.
GIIN: IYWWWK.99999.SL.620
Financial Institution Name: Bison Bank, S.A.
Country of FFI or Branch: Portugal
At: https://apps.irs.gov/app/fatcaFfiList/flu.jsf
📄 Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities) – FATCA – W-8BEN-E
📄 Bison Bank, S.A. AML Statement and Corporate Framework
COVID-19: follow the measures adopted by Bison Bank. Exceptional PPR Redemptions - Amendments and Deadline Extension - until September 30th, 2021. Know More.
The Bank became aware of the existence of an online platform called BANIF – BC that uses a similar company name of the extinct Banif - Banco de Investimento, S.A.. Know More.
