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TERMS
Definition and Reference
The following terms and conditions and all documents associated with any business involving MLP Limited are incorporated by reference herein.
General Terms and Conditions
The terms of this Agreement do not affect your (the Client's) statutory rights under applicable consumer protection legislation (where the Customer deals as consumer, or retail client), as amended from time to time, including the:
- The Financial Services and Markets Act 2000
- The Supply of Goods and Services Act 1982;
- Unfair Contract Terms Act 1977 and Unfair Terms in Consumer Contracts Regulations 1999; and
- The Consumer Protection (Distance Selling) Regulations 2000.
The Financial Services Authority (FSA) and MLP Limited
The FSA is the independent regulator for the financial services industry. The FSA also regulates MLP Limited. Our details can be found on the FSA's register and we are bound by the rules of the FSA. You may wish to visit the FSA's register at www.fsa.gov.uk/register FSA's register or contact the FSA on 0845 606 1234, to check our registration for yourself . All such information can be used to help you decide if our services are right for you.
Categories of investments on which MLP can give advice!
A requirement of the FSA is that firms are only permitted to provide advice on industry sectors for which they are authorised. MLP Limited is an 'independent financial adviser' authorised by the FSA to provide investment advice on life assurance, pensions, unit trusts, unit trust PEPs and ISAs from different companies, giving you access to the widest range of products available.
Our commitment to 'treat our customers fairly'.
The interests of our customers are of paramount importance to MLP Limited. In line with the FSA's 'treating customers fairly' initiative all members of MLP Limited, involved in giving financial advice, will endeavour to:
- conduct business with integrity and in a manner in which they would expect to be treated themselves, paying careful attention to the needs of you, the client, but taking reasonable steps to ensure that our communcations to you (the client) are 'fair, clear and not misleading';
- take note of your interests, including financial and personal circumstances, your experience of financial experience and your objectives and only provide you with recommendations for products which MLP Limited, in its opinion, feels are most suitable to meet your needs;
- on rare occasions where any conflict of interest is discovered, inform you of the competing interests and conduct itself in a manner that is fair and reasonable and, as far as practicably possible, in the best interests of all parties affected;
- exercise reasonable skill and care in conducting its business, not only in order to comply, as far as practicably possible, with the regulations in place at the time, but so as to treat you, the client, fairly and according to the accepted business practice of the financial services industry at any given time.
Our charges
MLP Limited does not ordinarily charge customers a fee, instead receiving its income from commissions paid directly to MLP Limited by those companies with which a client's business is placed. On occasions where a fee may be charged, you will be informed as soon as possible.
- Clients will be provided with a personalised illustration/quotation which will highlight any relevant charges and/or MLP Limited's fees or charges relating to any particular product. Further clarification can be sought if you remain dissatisfied.
Confidential Information
Any confidential information disclosed as a result of the provision of the Services shall be regarded as disclosed in confidence and shall only be used in connection with the performance of obligations under this Agreement.
- In accordance with MLP's statutory obligations, the FSA will have access to your records for regulatory purposes if required. Unless an objection is raised, it is assumed that you, the client, agree that such information may be passed on as required.
- MLP Limited may record conversations involving clients (or the FSA) without use of a warning tone to ensure that the material terms of any Transaction in particular, (or any other such conversation as MLP Limited may deem necessary) is promptly and accurately recorded for the avoidance of doubt. Such records will be our sole property and are accepted by all parties as accurate evidence of the orders or instructions given.
Taking instruction from our clients
MLP Limited prefers that clients give written instructions to avoid any possible miscommunications. On occasion, and in the interests of efficiency, oral instructions may be accepted, provided they are followed up in writing. Completion of an application form will be construed as provision of written instruction.
- Subject to Applicable Regulations, any communication between us using electronic signatures shall be binding as if it were in writing. Orders or instructions given to you via e-mail or other electronic means will, unless MLP Limited states otherwise, will constitute evidence of the orders or instruction given.
Liability
Nothing in this Agreement shall exclude or restrict MLP Limited for liability in respect of the death or personal injury, or fraud resulting from the negligence of MLP Limited, its employees or agents.
- MLP Limited reserves the right to pursue its Customer for any outstanding charges or in the event of insolvency, or the passing of a resolution for the winding up of the Customer, to pursue the receiver, liquidator, manager, administrator or administrative receiver appointed to handle all or parts of the assets of the Customer in order to recover the outstanding sums.
- MLP Limited will not be liable to its client for any partial or nonperformance of its obligations herein by reason of any cause beyond its reasonable control, including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or supra national bodies or authorities or any intermediary involved in any transaction and its failure to perform its obligations. Nothing in this Agreement will exclude or restrict any duty or liability we may have to you under the regulatory system (as defined in the FSA Rules) which may not be excluded or restricted thereunder.
Variation
MLP Limited reserves the right to amend the terms of this Agreement. If any material change to this Agreement is proposed MLP Limited will give at least five business days written notice to you, the client. Such amendment will become effective on the date specified in the notice, subject to MLP Limited being notified in writing within five business days that the term is not accepted by you, the client. In the event that such notification is given to MLP Limited the original terms will continue.
Severance
If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired.
Termination
MLP Limited, the client, or both, may, without any prejudice to any Clauses within this Agreement and any other rights that any party may be entitled to, terminate this Agreement without penalty. Notice must, however, be given in writing.
Complaints
Any dispute, complaint or claim arising in connection with this Agreement shall be referred, at the first instance, to the Compliance Officer, at 17 Station Road, Belmont, Sutton, Surrey, SM2 6BX. The complaint will be investigated and, within six weeks, Paolo Standerwick, Principal of MLP Limited, will write to you informing you of the outcome of the investigation
- If you, the client, remain dissatisfied with the outcome of the complaint at first instance, the parties agree that they will attempt to settle it by mediation, as permitted by the Financial Services and Markets Act 2000 and the DISP rules found in the Financial Services Handbook, in accordance with the CEDR Model Mediation Procedure. Unless otherwise agreed between the parties, the mediator will be Jane Sanders, a CEDR accredited mediator. In her absence, a mediator will be nominated by CEDR. To initiate the mediation a party must give notice in writing (ADR notice) to the other party(ies) to the dispute requesting a mediation. A copy of the request should be sent to Jane Sanders. The mediation will start not later than two weeks after the date of the ADR notice, subject to the availability of the mediator.
- The above method of dispute resolution is in place of referral of a complaint or dispute to the Financial Ombudsman Service, 183 Marsh Wall, South Quay Plaza, London, E14 9SR, as permitted with the consent of all parties to a dispute.
- No party may commence any court proceedings in relation to any dispute arising out of this agreement until it has attempted to settle the mediation.
- Should mediation fail to resolve the complaint to the satisfaction of the parties each is free to refer the matter to the English courts for resolution.
Are we covered by the Financial Services Compensation Scheme (FSCS)
MLP Compliance Ltd are covered by the FSCS. You, the client, may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS.
Governing law
All disputes, complaints and claims under or arising out of this agreement shall be governed and construed in accordance with English law and shall be subject to the exclusive jurisdiction of the English courts.
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