Financial Services and Markets Act 2000
Some investment-related activities of the firm in, into or from the United Kingdom are regulated under the Financial Services and Markets Act 2000 ("FSMA") of the United Kingdom. The following statements are for the purpose of compliance with FSMA, and related regulations, and the rules of the Solicitors Regulation Authority of England and Wales, by whom the firm is regulated in the UK as an "exempt professional firm" in connection with any such activities.
The Law Society is a designated professional body for the purposes of the Financial Services and Markets Act 2000 but responsibility for regulation and complaints handling has been separated from the Law Society's representative functions. The Solicitors Regulation Authority is the independent regulatory body of the Law Society and the Legal Complaints Service is the indpendent complaints handling body of the Law Society.
Where we promote our own investment-related services, please particularly note as follows. The firm is not authorised under the Financial Services and Markets Act 2000, but we are able in certain circumstances to offer a limited range of investment services to clients because we are regulated by the Solicitors Regulation Authority. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide. We can also provide services in relation to investments which may reasonably be regarded as a necessary part of our professional services or which we are otherwise permitted to provide in conformity with such Act.
If clients have any complaints with the service the firm provides for them then they should let us know. The firm will try to resolve any problem quickly and operates an internal complaints handling system. If for any reason the firm is unable to resolve the complaint, then the Solicitors Regulation Authority and the Legal Complaints Service provides a complaints and redress scheme for matters that concern the United Kingdom.
As we are not authorised under FSMA, we are only permitted to communicate invitations or inducements to engage in investment activities ("financial promotions") where these have been approved by an authorised person or are exempt from the requirement for such approval. We are retained only to provide legal and, where applicable, tax advice to our clients and nothing that we say or do should be construed as investment advice to anybody on the investment merits of acquiring or disposing of particular investments or as an invitation or inducement to anybody to engage in investment activities; nor do we act as brokers of investment transactions.
Where clients seek services concerning investments which are either not incidental to our legal services or are not otherwise ones which we are able to provide, the firm may refer the clients to someone who is authorised by the Financial Services Authority.
In order to progress matters on which our clients retain us, we need to communicate with clients and with others involved in those matters. If in relation to any such matter anybody decides to participate in a meeting, conference call or other interactive communication involving us, we will consider that they thereby request an interactive dialogue with us in our capacity as professional advisers to our client in the course of that communication.
Required disclosure
Regulations under FSMA contemplate a disclosure in the following terms where we promote our own investment-related services which are incidental to our professional practice:
This firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are regulated by the Solicitors Regulation Authority of England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.
Insurance mediation concerning the UK
We are not authorised by the Financial Services Authority. However, we are included on the register maintained by the Financial Services Authority so that we can carry on insurance mediation activity, which is broadly the advising on, selling and administration of insurance contracts. This part of our business, including arrangements for complaints or redress if something goes wrong, is regulated by the Solicitors Regulation Authority of England and Wales. The register can be accessed via the Financial Services Authority web site at: http://www.fsa.gov.uk/Pages/register/.
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