Investment Recommendations

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This website, its contents and any related communication is issued by Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH. It is published exclusively for the consumption of Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH's professional client or eligible counterparty trading counterparties. It is not for the consumption of trading counterparties categorised as retail clients, or for entities who do not have a current relationship with Lloyds Bank. The contents of this website are not being distributed to, and must not be passed on to, any other entity or to the general public.

The European Market Abuse Regulation (Regulation (EU) No 596/2014, MAR) applies from 3 July 2016 and principally aims to update and strengthen the existing EU legal framework on insider dealing and market manipulation (market abuse) (including Directives 2003/6/EC, 2003/124/EC, 2003/125/EC and 2004/72/EC).

The main aim of MAR is to ensure that regulation keeps pace with market developments. It strengthens the fight against market abuse across commodity and related derivative markets.

MAR requires persons producing or disseminating investment recommendations to ensure information is objectively presented, and to disclose any conflicts of interest. MAR does not change significantly the approach set out in the original legislation it repealed on investment recommendations, establishing that persons who produce or disseminate investment recommendations or other information recommending or suggesting investment strategies should take reasonable care to ensure objective presentation and to disclose their interests or indicate conflicts of interest concerning the financial instruments to which that information relates.

Any investment recommendation made by Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is only valid when read or received in conjunction with the disclosures found on the Website - "Important Disclosure in relation to Investment Recommendations".

You should not construe the content of any material or disclosures provided on this website as legal, financial, tax, accounting or other advice, and you should consider consulting your professional advisors for such advice. Nothing on this page shall constitute a bid or offer, or a solicitation of a bid or offer, to initiate or conclude any transaction.

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