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Question

What is the Designated Broker Service / employer reporting?

Answer

The Designated Broker Service is a product and service provided to compliance, control and HR functions of any businesses that are required to monitor and maintain accurate records of employee investment / trade activity.

There is a growing requirement for individual investors to report investment activity to their employer, particularly where that company is regulated or listed on a recognised stock exchange. As a consequence, there is a significant burden on employers to ensure that all employees are adhering to any Personal Account Dealing policies set out by their employer.

Our Designated Broker Service assists by providing employers with the trade and holdings information as and when required. This reduces the burden on employers and the underlying client by automatically transferring the data when any investment activity takes place. This information is transferred securely and normally at a frequency specified by the employer.

Access the online content by clicking here:

https://www.barclaysstockbrokers.co.uk/Accounts/Pages/Designated-Broker-Service.aspx

 What do we report via DBS to any employer?

All Nominee UK trade activity.

All International Trader activity - coming in 2014.

Valuations - coming in 2014.

(Please note we do not provide certificated reporting)

How do we report to any employer?

We can provide reports by secure electronic transfer or by post.

Please note, we will only provide electronic copies to an employer where we have a contract in place to do so. All firms that are non-contracted will only receive this detail by post.

How do I add or remove employer reporting to my accounts?

You can do this by contacting the Barclays Stockbrokers service centre and providing your employers details. Alternatively please request this via an online secure instruction. This can be done in the contact us section whilst logged in.

Telephone: 0800 279 6551

On receipt of your request we will add employer reporting to all accounts associated to yourself and any associated accounts under your control or influence.

Why should I report my trade activity to my employer?

If your employer has a requirement in place to report dealing activity, it is important that you adhere to this or you may be in violation of the terms of your employment. It's likely that your employer will have a Personal Account Dealing Policy; you must read and understand its content as it's you, the clients sole responsibility to understand this policy and how to adhere to its content.

Please note Barclays Stockbrokers takes no responsibility for the monitoring of accounts. It is the clients' sole responsibility to ensure they have requested reporting on all applicable accounts and that we hold the correct reporting details.

 

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