CLIENT CLASSIFICATION

Under the Markets in Financial Instruments Directive (MIFID), we have categorised you as a Retail Client (as opposed to a Professional Client) and this affords you the maximum consumer protection under the regulatory system.

MATERIAL INTERESTS

Moore Stephens Financial Services (East Midlands) Limited offer independent advice, but occasions can arise where we or one of our other clients will have some form of interest in business being transacted for you.  If this happens, or we become aware that our interests or those of one of our other clients conflict with your interests, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment. A copy of our Conflicts of Interest policy is available on request.

TERMINATION OF AUTHORITY

You or we may terminate our authority to act on your behalf at any time, without penalty.  Notice of this termination must be given in writing and will take effect from the date of receipt.  Termination is without prejudice to any transactions already initiated which will be completed according to these terms of business unless otherwise agreed in writing.  You will be liable to pay for any transactions made prior to termination and any fees which may be outstanding.

RIGHT TO WITHDRAW

In the case of a non-packaged product, ISA, PEP or CTF being recommended we will inform you in writing of any right to withdraw or cancel you may have or, if it is the case, we will inform you in writing that no such rights will apply.

CLIENT’S RISK

You are advised that because investments can fall as well as rise, you may not get back the full amount invested.  Past performance is not necessarily a guide to future performance.

DISCLOSURE OF CLIENT’S PERSONAL DATA

Where investment business or general insurance services are provided to us by third parties then circumstances may arise which warrant the disclosure of more than just your basic contact details.  On these occasions such as processing business and obtaining compliance and regulatory advice you agree that personal information held by us may be disclosed on a confidential basis and in accordance with the Data Protection Act 1998, to such third parties.  You agree that we may use third parties to verify your identity and address, either electronically or otherwise, in order to comply with money laundering regulations.  You agree that this information may be transferred electronically e.g. by e-mail.  You also agree that we or any such third party may contact you in future by any means of communication which we consider appropriate at the time.

Where appropriate we have your authority to provide investment information to Moore Stephens Chartered Accountants; i.e. where you have an existing accountancy servicing relationship and the investment information provided is relevant to your accountancy needs.

PAYMENT FOR SERVICES

We normally derive our income from fees paid to us for carrying out intermediary services on behalf of our clients.  Where appropriate, commission is offset against the fee due with any surplus being reinvested into the client’s contract.  For the arrangement of life assurance contracts, we will normally derive our income from commission paid to us by life assurance companies, and we shall tell you the amount of commission payable to us on any such investment. If we receive a commission or other form of benefit from the issuer of a security or from another intermediary, we will inform you.

Alternatively, if you or we propose to operate on a time cost basis, we will agree its basis, frequency and method with you in writing before we carry out any chargeable work.  Should we receive commission from any third party in relation to transactions arranged for you, we will offset the amount received against any fees due.

If you cease paying premiums on a regular premium policy and in consequence we are obliged to refund commission that has been paid to us then we reserve the right to charge you a fee representing the amount we have to repay for a period of up to four years after commencement of the policy, but we will not charge the fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the life company.

CLIENT MONEY

For your protection WE DO NOT HANDLE OUR CLIENT'S MONEY. We never accept a cheque made out to us (unless it is a cheque in settlement of charges or disbursements for which we have sent you an invoice) or handle cash.

Any initial and/or trail/renewal commissions received by this firm which are to be rebated to the customer are the property of the customer. You agree that until such time as all or part of those commissions are paid to you or offset against fees due to us, such monies will be held by the firm. Interest on any such sums will not be payable unless otherwise agreed.

COMPLAINTS

Should you have cause to complain, your complaint will be investigated in accordance with the firm's complaints handling procedure, a copy of which will be supplied to you on request.

ACCOUNTING TO YOU

Except in exceptional circumstances, we will confirm to you in writing the reason for recommending any transaction executed on your behalf. We will communicate with you in English and wherever possible in jargon free and plain English. U

nless you specifically request otherwise we may telephone or visit you during normal social hours to offer you further advice or inform you of products and services in which you may be interested.

We will also make arrangements for all your investments to be registered in your name, unless you first instruct us otherwise in writing.  We will forward to you all documents showing ownership of your investments as soon as practicable after we receive them; where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you.

BEST EXECUTION

When placing orders on the client's behalf in relation to financial instruments we will take all reasonable steps to achieve what is called 'Best Execution' of the order. We have in place a policy and procedures which are designed to obtain the best possible execution result. A copy of our Best Execution policy is available on request.

INVESTMENT OBJECTIVES & RESTRICTIONS

Following the issue of this letter any subsequent advice or recommendation offered to you will be based on your stated investment objectives, acceptable level of risk and any restrictions you wish to place on the type of investments or policies you are willing to consider.  Details of your stated investment objectives will be included in the suitability letter we will issue to you to confirm our recommendation.

Unless confirmed in writing, to the contrary, we will assume that you do not wish to place any restrictions on the advice we give you.