Disclosure Requirements - Serbia
Disclosure Category 2
In order to comply with the local legislation, customers entering into transactions in the Serbian market must consent and are hereby deemed to consent to disclosure. Such consent includes the appointment of the requestor (for example, the issuer or its agent) as attorney-in-fact of such customers, under power of attorney, to collect from CBL such information as is required to be disclosed. Customers not willing to give this consent cannot hold such securities and/or financial instruments in their account with CBL.
In the case of holdings in Serbian securities, CBL can be under an obligation, to disclose, or being asked to disclose, the identity of beneficial owners holding such securities.
Details to be provided may vary and CBL will, where relevant, contact its customers to collect the requested information.
Customers who are either unable or not permitted to disclose beneficial owner information or any other requested information must not hold Serbian securities in CBL.
CBL shall not be liable for any penalty or loss faced as a result of non-disclosure by a customer and any loss or penalty will be automatically and immediately passed on to the non-compliant customer.
It remains the sole responsibility of the customer to ensure compliance with local disclosure requirements. If a local requirement is not met, it is the customer who will be liable to any related penalty. Customers are therefore advised to seek independent legal advice on the existence and interpretation of local disclosure requirements.