Notification for amending the General Terms, applicable to contracts with clients for provision of investment and/or ancillary services, relating to financial instruments

Dear Clients,

UBB AD hereby informs you that on 05.05.2016 the Bank adopted amendments to the General Terms, applicable to contracts with clients for provision of investment and/or ancillary services, relating to financial instruments, with the amendments’ effectiveness date being 13.06.2016.

These amendments have been triggered by changes in Ordinance 38 of the Financial Supervision Commission dated 2007 on the requirements to activity of investment intermediaries, (as amended and supplemented in State Gazette, Issue 4 dated 15.01.2016) and further ensure the better awareness of clients:

  • an obligation has been introduced for the investment intermediary to publish on its official internet page the applicable General Terms and the Tariff, while each and every amendment to those has to be announced in the investment intermediary’s website as earlier as one month prior to its entry into force; 
  • information as regards the manner and procedure for amendment and supplement to the General Terms and the Tariff is envisaged to be incorporated in the contracts with clients;
  • an opportunity has been provided to clients, disagreeing with the amendments and supplements to the General Terms and the Tariff, to terminate their contracts, prior to the amendments’ entry into force.

The full text of the updated General Terms, applicable to contracts with clients for provision of investment and/or ancillary services, relating to financial instruments, is available here (General terms), as well as at UBB AD offices, offering investment services.