MIFID

Definition of the concept of conflict of interest: situation in which an employee of Aurel BGC or Aurel BGC itself has a material, professional, commercial, financial or personal interest which competes with the a client's, or clients', interest, which must take precedent over any other.

In accordance with article 313-18 of the general regulations of the AMF, Aurel BGC has taken all reasonable steps to avoid conflicts of interest by setting up specific procedures for preventing and managing conflicts of interest so that its clients' interests are not adversely affected.

An analysis of potential risks has enabled situations generating a possible conflict of interest to be identified. This approach was completed by putting in place a set of procedures particularly concerning:

- controls concerning the execution of orders,
- limiting and controlling inappropriate influences,
- following up and controlling employees' transactions,
- forbidding and/or controlling exchanges of information.

Detailed information on the policy on managing conflicts of interest can be provided on request to the Compliance departement.