AS SEB Pank changes its terms and conditions of securities account and transactions
On 1 May 2015, the amendments to the Family Law Act will enter into force, which bring about changes also to terms of the securities account of minors and wards. Pursuant to the changes in the law, the court’s consent is not necessary for executing a transaction, if the sales proceeds of the securities acquired for the funds of the parent or guardian remain in the possession of the ward. Accordingly, we have created a special account - a special type of securities account - to be opened on behalf of a minor or ward.
In addition to the amendments, arising from law, the terms and conditions of securities account and transactions include also additions in connection with the custody service of securities (such as grounds for acting, if information is requested about the residence of a client upon keeping securities in a foreign country or if our contractual relationship with a specific sub-custodian, with whom the client’s securities are kept, ends). We also have supplemented the clauses on payouts due to corporate events.
The amendments to the terms and conditions of securities account and transactions will enter into force on 1 May 2015 and shall be applicable to all agreements valid at that moment.
View the new terms and conditions of securities account and transactions.
If you agree to the changes, you will not have to do anything extra. However, if you find the changes unacceptable, you may terminate your agreement with the bank before 30 April 2015. If you do not inform us of your wish to terminate the agreement, we consider that you have agreed to the changes and starting from 1 May 2015, the new terms and conditions of securities account and transactions will apply to the agreement(s) signed with you.
For further questions please call us on 665 5100, contact us via Skype (username seb.eesti) or send a message from the Internet Bank under menu “Contact” → “Write to customer service” or visit a bank office. The locations and opening hours of all SEB bank offices are available at http://www.seb.ee/eng/locations.
