Information on the independent financial agent
Important information for the client and potential client about the independent financial agent Agropoistenie s. r. o. under the Act on Financial Intermediation.
In accordance with the provisions of Sections 32(2) and 32(3) and Section 33 of the Act on Financial Intermediation, the independent financial agent hereby informs the prospective client of the following facts:
Agropoistenie s. r. o., with its registered office at Sartorisova 11, 821 08 Bratislava-Ružinov, Company ID: 47 054 701, entered in the Commercial Register of the City Court Bratislava III, Section Sro, Insert No. 87816/B (hereinafter the “company”) carries out financial intermediation under Section 7 of Act No. 186/2009 Coll. on Financial Intermediation and Financial Advisory.
Agropoistenie s. r. o. is entered in the register of the National Bank of Slovakia as an independent financial agent under registration number 174367 in the sub-register of:
- insurance or reinsurance,
The entry in the said register can be verified on the website of the National Bank of Slovakia – www.nbs.sk.
Agropoistenie s. r. o. carries out financial intermediation in its own name or through tied financial agents (hereinafter “PFA”), pursuant to Section 9 of the Act on Financial Intermediation and Financial Advisory, with whom it has concluded a cooperation agreement. A PFA must be entered in the sub-register of the sector in which it carries out financial intermediation. A PFA states its registration number with the NBS in the Record of Intermediation of a Financial Service. The entry can be verified on the website of the National Bank of Slovakia – www.nbs.sk.
Cooperation with financial institutions
Agropoistenie s. r. o. carries out its activity under Section 7 of Act No. 186/2009 Coll. on Financial Intermediation, on the basis of written cooperation agreements with financial institutions, which are non-exclusive in nature. The business names of the financial institutions are published on the website of the independent financial agent https://www.agropoistenie.sk/
Supervision of the activities of the financial institutions with which Agropoistenie s. r. o. has concluded cooperation agreements is carried out by the National Bank of Slovakia. To a limited extent, the National Bank of Slovakia also supervises the activities of a branch of an insurer from another Member State.
Agropoistenie s. r. o. holds no qualifying holding in the share capital or voting rights of any financial institution with which it has concluded a cooperation agreement. The financial institutions with which Agropoistenie s. r. o. has concluded cooperation agreements under the Act on Financial Intermediation and Financial Advisory hold no qualifying holding in the share capital or voting rights of the independent financial agent.
Remuneration for the activity
Agropoistenie s. r. o. carries out financial intermediation on the basis of agreements with financial institutions, from which it receives remuneration for this activity that already includes all costs incurred in connection with performing its obligation, unless the parties agree otherwise in a specific case. The remuneration is paid through the relevant financial institution.
The prospective client is entitled to request information on the amount of the monetary or non-monetary performance that the agent receives from the financial institution under Section 32(3) of Act No. 186/2009 Coll. on Financial Intermediation. If the prospective client so requests, an employee or a PFA will provide information on the amount of this monetary performance.
Employees and PFAs must not, in connection with carrying out financial intermediation, accept any monetary or non-monetary performance from a non-professional client.
In connection with carrying out financial intermediation, Agropoistenie s. r. o. and PFAs must not provide the client or potential client with any financial or non-financial benefits (the provision of small promotional items is not considered such).
Legal consequences of concluding a contract
The legal consequence of concluding a financial service contract is primarily the arising of rights and obligations of both the client and the financial institution, resulting from the contract and the terms and conditions. A financial service contract is a commitment of both parties, or a right to financial performance. Early termination of a financial service contract and non-fulfilment of the obligations arising from the contract usually results in the imposition of sanctions by the financial institution.
In the case of concluding an insurance contract, the other basic rights and obligations relating to the insurance, exclusions from insurance, the manner and termination of insurance, changes to insurance, the amount of the surrender value that the insurer will pay out in the case of personal insurance upon early termination of the insurance, etc., are set out in the insurance contract, the information document and the general terms and conditions with which the client became acquainted before concluding the insurance contract.
AML and international sanctions
Agropoistenie s. r. o., in accordance with Act No. 297/2008 Coll. on the Protection against Legalisation of Proceeds of Criminal Activity and on the Protection against Terrorist Financing, as amended (hereinafter “AML”), regulates the rights and obligations of legal entities and natural persons in preventing and detecting the legalisation of proceeds of criminal activity and terrorist financing. The aim of these statutory provisions is the consistent prevention of intentional conduct consisting in changing the nature of property or transferring property in the knowledge that the property originates from criminal activity or from participation in criminal activity.
Agropoistenie s. r. o., as an independent financial agent, is under Section 5(b)(6) of the AML Act, apart from the performance of activities related to non-life insurance, an obliged person in preventing and detecting the legalisation of proceeds of criminal activity. This condition applies equally to the activity of the PFAs through which it carries out its activity as an independent financial agent.
Pursuant to the said Act, Agropoistenie s. r. o. has adopted and follows a procedure for intermediating financial products to the client and potential client and, in this context, carries out mandatory identification, verification of identification, and screening for politically exposed persons, the beneficial owner and sanctioned persons under Act No. 289/2016 Coll. on the Implementation of International Sanctions, as amended, etc., up to refusal to conclude a business relationship, including reporting an unusual business operation for both legal entities and natural persons in the case of suspected unfair business activity.
Conflict of interest
Agropoistenie s. r. o., in accordance with legal regulations, has adopted the measures necessary to identify a mutual conflict of interest between it, if it is a natural person, its statutory body, the members of its statutory body, if it is a legal entity, and its employees and persons connected with the financial agent or financial advisor and their clients, or between clients themselves.
If a conflict of interest cannot be avoided when carrying out financial intermediation, the employee or PFA must notify the client or potential client of the nature and cause of the conflict of interest sufficiently in advance of concluding the financial service contract. The information on the conflict of interest must be provided in writing or on a durable medium and must include sufficient details in connection with which the conflict of interest arises.
If a conflict of interest cannot be avoided, the employee and PFA are obliged to give priority to the client's interests over their own interests and, if a conflict of interest arises between clients themselves, to ensure equal and fair treatment of all clients.
Further information on conflicts of interest is published for prospective clients at https://www.agropoistenie.sk/
Manner and system of protection against the failure of a financial institution in the insurance or reinsurance sector:
In the insurance or reinsurance sector, client protection is ensured by the fact that the insurer is obliged to comply with all conditions laid down by Act No. 39/2015 Coll. on Insurance and on Amendments to Certain Acts. Supervision of the activities of an insurer with its registered office in the territory of the Slovak Republic is carried out by the National Bank of Slovakia. To a limited extent, the National Bank of Slovakia also supervises the activities of a branch of an insurer from another Member State. In particular, the insurer is obliged to create technical provisions for all obligations towards policyholders, insured persons and recipients of insurance benefits. Technical provisions serve to ensure the insurer's ability to settle all its obligations arising from the insurance contracts concluded. However, no guarantee schemes have been created for the case of an insurer's inability to settle its obligations. In addition to the above, the most important preventive mechanism against the failure of a financial institution in the insurance or reinsurance sector is an effective risk management system, the spreading of insurance risks through reinsurance, and compliance with regulatory requirements under the regime of the Insurance Act and other generally binding legal regulations.
In the case of insurance-based investment products (unit-linked life insurance), a client who has expressed interest in concluding it / has concluded it must be aware of the risk associated with such a financial product, and the client bears this risk. The value of returns on unit-linked life insurance is proportionate to the risk associated with investing and which the client is willing to bear and of which the client was warned in advance by the employee or PFA.
The essential elements of an insurance contract are also defined in the provisions of the Civil Code, under which an insurance contract contains in particular the amount of the sum insured and, in the case of personal insurance, the amount of the guaranteed sum insured; the amount of the premium, its due date and whether it is a single premium or regular premium; the insurance period; information on whether it is agreed that, in the case of personal insurance, the beneficiary will share in the insurer's profits and in what manner; the rights and obligations of the insurer, the insured and the person who concludes the insurance contract with the insurer; the amount of the surrender value that the insurer will pay out in the case of personal insurance upon early termination of the insurance. The legal consequence of concluding an insurance contract for the client is the obligation to pay the premium and the right to insurance benefits if an insured event occurs.
Detailed information on insurance products is set out in the contract that the client concludes with the financial institution, in the general terms and conditions, price list, statutes, the “Key Information Documents for the client (so-called KID, IPID), or on the insurer's website.
Complaints
If the client is dissatisfied with the activity of the employees or PFAs of Agropoistenie s. r. o., the client is entitled to lodge a complaint by letter sent to the registered office address of Agropoistenie s. r. o., or by electronic mail at info@agropoistenie.sk.
The client may also lodge a complaint with the authority supervising the activities of financial agents, which is the National Bank of Slovakia, or may seek their rights arising from financial intermediation also by way of out-of-court dispute settlement, under Act No. 244/2002 Coll. on Arbitration, Act No. 420/2004 Coll. on Mediation or Act No. 391/2015 Coll. on Alternative Resolution of Consumer Disputes, as amended.
Further information on the handling of complaints is available to prospective clients at https://www.agropoistenie.sk/vybavovanie-staznosti/
Further information can be obtained on the agent's website https://www.agropoistenie.sk/