Legal Information

Legal Information

Welcome to the website of Charles Stanley Securities (the "Site").

The material in this Site is directed solely at eligible counterparties and professional clients, as defined by the rules of the Financial Conduct Authority. The material is not directed at, may not be suitable for and should not be relied on by retail clients. By accessing the relevant pages you acknowledge that you are not a retail client. Retail clients should refer instead to www.charles-stanley.co.uk.

By accessing the Site, you agree and acknowledge the following, so please read this document carefully before you start to use the Site.

1. Information available from this Site

1.1. This Site is owned and operated by Charles Stanley & Co Limited ("Charles Stanley"). Charles Stanley Securities is a division of Charles Stanley.

1.2. This Site contains public and login areas. The login area is only available to existing contacts and clients if Charles Stanley accepts your registration application. Charles Stanley may refuse an application to access the login area in its absolute discretion, and its decision will be final.

1.3. On entering the public or login areas, please note the basis on which research tools are provided and comply with our security requirements. Further details are set out on the relevant Site pages as well as paragraphs 2.2 - 2.6 and 4.5 below.

1.4. The terms and conditions applicable to the operation of your account with Charles Stanley operate in conjunction with the terms of this legal notice, although the former shall take precedence in the case of any conflict between them.

2. Compliance

2.1. This Site should not be regarded as an offer or solicitation to conduct designated investment business, as defined by the UK Financial Services and Markets Act 2000, in any jurisdiction other than the United Kingdom and Member States of the European Community. Any research material on the following pages of this Site has been prepared for persons in the United Kingdom and is not intended for distribution or use outside the United Kingdom. This material is not directed at you if Charles Stanley is prohibited or restricted by any legislation or regulation in any jurisdiction from making it available to you and in particular is not for distribution in and is not directed at persons in the United States or Canada. You should satisfy yourself before reading it that Charles Stanley is permitted to provide research material concerning investments to you under relevant legislation and regulations. Charles Stanley accepts no responsibility whatever for any failure by a person resident outside the United Kingdom to observe the foregoing.

2.2. You understand that while you may be able to access certain research tools and reports through this Site, the availability of such information does not constitute a recommendation to buy, sell or otherwise trade all or any of the securities mentioned therein. Charles Stanley accepts no fiduciary duties to the reader of such material and in communicating such research material is not acting in a fiduciary capacity. Neither Charles Stanley nor any of its directors, officers, employees or agents shall have any liability, howsoever arising, for any error or incompleteness of fact or opinion in it or lack of care in its preparation or publication, provided that this shall not exclude liability to the extent that this is impermissible under the law relating to financial services. All statements and opinions are made as of the date on the face of the relevant research material and are not held out as applicable thereafter. Research recommendations are given in good faith but without legal responsibility and are subject to change without notice. You are recommended to seek advice concerning suitability from your investment advisor. Investors should be aware that past performance is not necessarily a guide to the future and that the price of shares and other investments, and the income derived from them, may fall as well as rise and the amount realised may be less than the original sum invested. You agree not to hold Charles Stanley and/or any of its respective officers, employees, agents or affiliates, liable for any investment decisions made by you arising from the use of this Site or its Content.

2.3. Charles Stanley conducts a full service investment management, investment banking and brokerage business. Charles Stanley has investment banking relationships with a number of the companies covered by our research division. Charles Stanley may seek investment banking business from the covered businesses referred to in this research. Charles Stanley and its connected companies, their directors, members, employees and members of their families may have positions in the securities or derivatives (including derivatives, options and warrants) thereof of covered companies referred to in research. As a result, investors should be aware that Charles Stanley may have a conflict of interest that could affect the objectivity, independence and impartiality of its research. Investors should consider research as only a single factor in making their investment decision.

2.4. The policy on the production of research by Charles Stanley, the definitions of its research recommendations and how it manages actual or potential conflicts of interest can be found at: http://www.charles-stanley.co.uk/charles-stanley-research-policy/.

2.5. Research material will carry the date of publication or, on a research circular printed overnight, the date on which it was sent to the printers. Where a price is quoted in research material it will generally, in the absence of contrary words, be the latest practicable price prior to distribution or, in the case of a research circular printed overnight, the closing price at the close of business. Research available on the login area is updated hourly.

2.6. Any information provided by Digital Look Ltd, Thomson Financial Limited or Reuters Limited (the "Information") is owned by or licensed to those companies and any user is limited to storing, filing in format print and displaying the Information for such user's personal use. In no event shall any user publish, retransmit or redistribute or otherwise reproduce any Information in any format to anyone else. Charles Stanley shall not be responsible for any errors in the Information or for any damages resulting therefrom. You agree to indemnify and hold harmless Charles Stanley for any cost, charges and damages resulting from breach of this clause.

3. Content, Use & Reproduction

3.1. You acknowledge that this Site contains information, data, software, photographs, graphs, videos, typefaces, graphics, music, sounds, and other material (collectively "Content") which is protected by copyright and other intellectual property rights proprietary to Charles Stanley and its licensors.

3.2. No part of the Content may without the prior written permission of Charles Stanley be permanently stored, reproduced or copied in any form or by means other than for the user's legitimate, legal and reasonable internal business purposes, provided that the user does not modify the paper or electronic copy and maintains all of the Charles Stanley notices, such as all legal notices and disclaimers, copyright notices, trade mark legends, or other proprietary rights.

3.3. Any research notes and reports available from the Site may not be permanently stored, copied, reproduced or distributed in any manner without the written permission of Charles Stanley. Charles Stanley specifically prohibits the re-distribution of these reports, via the Internet or otherwise, and accepts no liability whatsoever for the actions of third parties in this respect.

3.4. Distribution, reselling or reproduction of the Content is strictly prohibited. You may not modify, remove, delete, augment, add to, publish, transmit, participate in the transfer or sale of, create derivative works from, or in any way exploit any of the Content, in whole or in part.

4. About this Site

4.1. Charles Stanley provides this Site for your information only and without warranties or other assurances of any kind. It reserves the right to withdraw or amend the Site without notice. Other than disclosures relating to Charles Stanley, the information on this Site is based on current public information that it considers reliable. Charles Stanley endeavours to correct any errors or omissions within its control as soon as it becomes aware of them, but it does not guarantee that the Site will be accurate, error free or uninterrupted and the Site should not be relied on as such.

4.2. Charles Stanley will not be liable for the consequences of any event beyond its reasonable control (including the electronic transmission of data, content, material and information over the internet and the interception or decryption of it by others) or for any damages resulting therefrom.

4.3. To the fullest extent permitted by law, neither Charles Stanley nor any other party involved in creating, producing or communicating the Site shall be liable for any loss or damage, whether reasonably foreseeable or not, resulting from the use of or inability to use it, including but not limited to interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission, or any failure of performance, whether or not resulting from force majeure, communications failure, theft, destruction, or unauthorised access to Charles Stanley's records, programs or services.

4.4. Email messages sent via the Site are not secure. We urge you not to send email to Charles Stanley containing confidential information, or that relating to time sensitive matters. You agree that you do so at your own risk and that you hold Charles Stanley harmless from any loss that you may suffer as a result. An automated delivery receipt does not constitute acceptance of any email; we will either expressly reply or act on your email.

4.5. If you have access to the login area of the Site you are responsible for maintaining the security of the login details issued in confidence to you. Such information must never be shared with anyone, and after accessing your account you must log off. This ensures that no third party may be able to access your account if you leave your computer and your session has not yet been timed out. You will be exclusively responsible for any instructions placed or purported to be placed under those details and Charles Stanley shall be entitled to treat all such instructions as authentic, until such time as Charles Stanley receives written confirmation that your login details may have been acquired by a third party.

4.6. Nothing in this Legal Information notice shall operate so as to exclude, limit or restrict Charles Stanley's liability for death or personal injury, for fraud or fraudulent misrepresentation, for damage suffered as a result of any breach of the conditions as to title and quiet enjoyment implied by English law, liability under Part 1 of the Consumer Protection Act 1987 or for any other liability the exclusion or limitation of which is not permitted by English law. These disclaimers do not affect the statutory rights of consumers.

4.7. This document and any dispute or claim arising out of or in connection with it shall be governed by and construed in accordance with the laws of England.

5. External Websites

5.1. By accessing other websites through links provided by Charles Stanley (be it a hypertext link or other referral device), you agree to the following terms and conditions:

5.1.1. Should you leave this Site via a link contained herein, and view content on any website that is not provided by Charles Stanley, you do so at your own risk. Charles Stanley has no control over the content of an external website and is not responsible for it or any damages or losses that may arise from your use of it.
5.1.2. The material available on external websites has been produced by independent providers that are not affiliated with Charles Stanley and nor may they be regulated by the Financial Conduct Authority. Any opinions or recommendations expressed on external sites are solely those of the independent providers and are not the opinions or recommendations of Charles Stanley.
5.1.3. The content to which you link will not have been developed, checked for accuracy, or otherwise reviewed by Charles Stanley. Charles Stanley is not responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, information or other content provided in any such website, or for any such site's policies in relation to the use or processing of personal data.
5.1.4. Charles Stanley makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, its accuracy, subject matter, quality or timeliness.
5.1.5. You understand that while some of the linked websites may provide information about investments, the availability of such information does not constitute a recommendation to buy or sell or otherwise trade all or any of the securities discussed therein. You understand that you are responsible for your own investment decisions and you should seek your own professional advice as to the suitability of any investment mentioned in such information.

5.2. You may not link to this Site without the prior written consent of Charles Stanley, nor must this Site be framed on any other site. Charles Stanley reserves the right to withdraw any linking permission without notice.

6. Corporate Information

6.1. For the purposes of S.21 Financial Services and Markets Act 2000 the whole Site has been approved by Charles Stanley, a firm authorised and regulated by the Financial Conduct Authority ("FCA") and entered in the FCA's Register with Register number 124412. The FCA's Register can be accessed at www.FCA.gov.uk/register.

6.2. Charles Stanley Group PLC (registered in England No. 48796) is the parent company of Charles Stanley. Visit http://www.charlesstanleyplc.co.uk/ for further information.

6.3. The principal trading companies of Charles Stanley Group PLC are:

Charles Stanley & Co. Limited: Registered in England No. 1903304. Authorised and regulated by the Financial Conduct Authority (Reg. No. 124412)

EBS Management PLC: Registered in England No. 998606. Authorised and regulated by the Financial Conduct Authority (Reg. No. 134908)

Garrison Investment Analysis Limited: Registered in England No. 1880462. Authorised and regulated by the Financial Conduct Authority (Reg. No. 114956)

Charles Stanley Financial Solutions Limited: Registered in England No. 2131269. Authorised and regulated by the Financial Conduct Authority (Reg. No. 134771)

Jobson James Financial Services Limited: registered in England No. 2811969. Authorised and regulated by the Financial Conduct Authority (Reg. No. 163419)

Rock (Nominees) Limited: Registered in England No. 1115143

Each of the above companies has its registered office at 25 Luke Street, London, EC2A 4AR.

6.4. Charles Stanley's registered VAT number is 524732945.

6.5. "Charles Stanley" is a registered trade mark of Charles Stanley & Co Limited.

6.6. For general enquiries by email, please contact Charles Stanley Securities at admin@charles-stanley.co.uk.

6.7. If you receive marketing, research or other regular information from Charles Stanley and wish to unsubscribe please email admin@charles-stanley.co.uk.

6.8. Charles Stanley is a member of the London Stock Exchange, Euronext.liffe London, the International Capital Market Association and the Association of Private Client Investment Managers and Stockbrokers. Charles Stanley Securities is a member of the British Venture Capital Association.

7. Other Information

7.1. In order to maintain the security of its systems, protect its staff and detect fraud and other crimes, Charles Stanley reserves the right to monitor all internet communications, including web and email traffic, into and out of our domains. Monitoring includes checks for, but not limited to, viruses and other malignant codes, criminal activity or otherwise unacceptable use or content.

7.2. Current tax levels and reliefs may change and the value of any relief depends on individual circumstances.

7.3. Charles Stanley reserves the right to cooperate fully with any investigation by national and international police, regulatory authorities and other officials, and reserves the right to disclose any personal data (including personal or private electronic communication transmitted on this Site) to such officials to the extent requested by them in connection with any such investigation, or as otherwise required by law or regulation.

January 2012