Electronic Care
Electronic care (hereinafter eCare) is a project undertaken by the securities broker, Fio o.c.p., a.s., and implementation is pursuant to the provisions of Section 15 of Act No. 256/2004 Coll. on Business on Capital Markets and from the statements containing similar provisions from the Securities Commission.
These provisions place the duty on licensed securities brokers to provide investment services with proper professional due diligence (Par. 1, Letter a) with the goal of determining the customer's investment goals, financial situation and the scope of the customer's expertise and skills (Par. 1, Letter b, and Par. 3). The eCare Project introduces a range of automated control mechanisms that have the goal of identifying orders that if executed would expose the client to increased risks above those identified in his or her investment goals, experience or financial situation.
Electronic professional care protects the investor against actions that are not in accordance their personal risk preferences and experience on capital markets.
So that a Fio o.c.p., a.s. trader gets all the correct information from the client, the client must provide information in order for the trader to complete proper professional care in the Investment questionnaire at signature of the Commission Contract. If any such information provided by the client changes, the client can update the information at any time through staff at the branch that manages the trading account or individually using a change form in the Global Settings of the e-Broker application. The client can also change this information at any time if it is incorrect or inaccurate. The validity term for data shown on the questionnaire is one year from the date of its last update and an order must be placed to change or update this information if necessary once this period expires.
There is also an eCare control mechanism that checks when the client places an order if the execution of the order represents an increased risk for the client and if it does not match the investment questionnaire, the system halts the order and the client is shown a warning alert. If the client agrees to such risk, the order can be authorized by pressing "Send". If not, the order will not be processed. If during eCare the trader evaluates the information shared in the investment questionnaire and decides that the client should not make the given stock investment, the order will be permanently rejected without the option to authorize or provide consent to this increased level of risk.
If you experience any issues in connection with eCare, do not hesitate to contact your branch or place your questions to Fio service, which can be accessed through the e-Broker application.
