Important information

Legal information and disclaimers
These pages explain the legal and regulatory restrictions applicable to the information contained within this site (such information to be referred to hereafter as "Information"). We intend to rely on this Information and these terms and for your own benefit and protection, you should read these terms carefully. If you do not understand any point, please contact us for further information.

1 Jurisdiction
Close Asset Management Limited operates in the UK with associated companies operating in the Channel Islands, Isle of Man and South Africa. Where a service, investment or other operation is available or offered outside of the UK, or where there are some local restrictions or limitations that apply to its operation then it will be indicated. We will confirm the legal entity offering the service or product and we will direct you to review these terms for details of regulation or protection. Otherwise, all other information is aimed at persons present in the UK. It is your responsibility to know and understand the law and regulations relating to investment business as they apply to you, wherever you are based.

For further clarification, certain Information is aimed specifically at employers, institutions and professional advisers, rather than at private clients. In these areas, we confirm the specific audience that the Information is aimed at. If you are not the audience defined then you should be aware that this Information is not aimed at you and at some point, either on the website or when dealing with an enquiry, Information or progressing your enquiry may be restricted or stopped.

The services and products offered by our offshore operations outside of the UK include the following:

Our offshore products and services are not intended for promotion in the UK other than through appropriately qualified financial advisers. This is because UK residents investing in or utilising these services will not be afforded the protections provided by the UK regulatory system and compensation under the UK’s Financial Services Compensation Scheme. Full details of the regulatory environment and protections which may apply can be found in the wording below.

2 Regulators and registered offices
In the United Kingdom Close operates a number of regulated entities;
Close Asset Management Limited (Company No. 1644127) is registered in England and Wales, is authorised and regulated by the Financial Services Authority, and is a subsidiary of Close Brothers Group plc. Close Asset Management Limited is a member of the Close Asset Management group and has its registered office at 10 Crown Place, London, EC2A 4FT. VAT Registration No. 245 5013 86.

Close Investments Limited (Company No, 259 4897) is registered in England and Wales, is authorised and regulated by the Financial Services Authority, and is a subsidiary of Close Brothers Group plc. Close Asset Management Limited is a member of the Close Asset Management group and has its registered office at 10 Crown Place, London, EC2A 4FT. VAT Registration No 245 5013 86.
 
Close Asset Management (UK) Limited (Company No, 2998803) is registered in England and Wales, is authorised and regulated by the Financial Services Authority, and is a subsidiary of Close Brothers Group plc. Close Asset Management Limited is a member of the Close Asset Management group and has its registered office at 10 Crown Place, London, EC2A 4FT. VAT Registration No. 245 5013 86

In Guernsey, member companies of Close conduct business from their registered offices at Trafalgar Court, Admiral Park, St Peter Port, Guernsey, GY1 2JA and are regulated by the Guernsey Financial Services Commission and licensed to provide banking, safe custody, investment business, trust and company administration services, fund administration and accounting services and general insurance business. Member companies are Close Bank Guernsey Limited, whose registered number is 909, Close International Custody Services Limited, whose registered number is 36605, Close Trustees Guernsey Limited, whose registered number is 5737, Close Fund Services Limited, whose registered number is 12099 and Close International Insurance PCC Limited whose registered number is 41655.

In the Isle of Man, Close is the registered trading name of Close Bank (Isle of Man) Limited and Close Trustees (Isle of Man) Limited which are licensed by the Isle of Man Financial Supervision Commission.

In Jersey, Close is the registered trading name of Close International Asset Management Limited, Close Trustees Jersey Limited, Close Trust Company Jersey Limited, Close Secretarial Services Limited, Close Corporate Services Limited, Close Nominees Limited, Chrisalis Trustees Limited and Citadel Trust Limited.  Close International Asset Management Limited is regulated by the Jersey Financial Services Commission in the conduct of fund services and investment business and by the South African Financial Services Board as a financial services provider.  Close Trustees Jersey Limited, Close Trust Company Jersey Limited, Close Secretarial Services Limited, Close Corporate Services Limited, Close Nominees Limited, Chrisalis Trustees Limited and Citadel Trust Limited are regulated by the Jersey Financial Services Commission to carry out trust company business.

In South Africa, Close International Asset Management Limited is registered with the Financial Services Board as a financial services provider.  Close Fund Services (South Africa) (Pty) Limited is a wholly owned subsidiary of Close Fund Services Limited which is registered in Guernsey and regulated by the Guernsey Financial Services Commission under The Protection of Investors (Bailiwick of Guernsey) Law 1987 as amended.

All member companies of the Close Asset Management group are ultimately owned by Close Brothers Group plc. www.closebrothers.co.uk

Close Brothers Group plc is listed on the London Stock Exchange.

3 Compensation Arrangements
Compensation arrangements are not offered for all products in all jurisdictions.

1. In the event that Close Asset Management Limited is unable to meet its liabilities, client contracted to it you may be able to apply to the Financial Services Compensation Scheme (“FSCS”). Further information can be obtained from the FSA or the FSCS. This depends upon the type of business and the circumstances of the claim. Most types of investment business are covered currently for 100% of the first £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000. From the 1 January 2010 this will increase to a straight £50,000 cover per eligible claimant. Further information about compensation arrangements is available from the FSCS (www.fscs.org.uk).
2. In the event that Close International Asset Management Limited or Close Trust Company Jersey Limited (or any of its subsidiaries) are unable to meet its respective liabilities there are currently no established investor protection or compensation schemes available in that jurisdiction for these businesses.
3. Close Bank Guernsey Limited is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any five year period. Details available from www.dcs.gg, Tel +44 (0) 1481 722756 or PO Box 380, St Peter Port, Guernsey, GY1 3FY.
4. The Isle of Man has a depositors’ compensation scheme (DCS). The DCS partially compensates you if you have deposited money in Close Bank Isle of Man and it fails. The DCS compensates people who have money in current and deposit accounts in the Isle of Man with up to £50,000 of net deposits* per individual depositor or £20,000 for most other categories of depositor. Cover is calculated per depositor, per deposit taker, if this bank fails. This means that a maximum of £50,000 compensation is payable per individual and a maximum of £20,000 for companies, trusts etc. Note that maximum amounts paid under the DCS will be reduced by amounts paid by IoM Treasury under Early Payment Schemes. (* Net deposits: Loans may be netted off against any deposits you have with the same deposit taker). If two or more individuals share a joint account, they would each be entitled to up to £50,000 in compensation. However, if either individual has any other accounts with the same licence holder, these balances would also need to be taken into consideration, as compensation is limited to £50,000 per individual.

4 Copyright and ownership
Close Asset Management Limited. All rights reserved. All content on this site including the Information, all text, data, graphics, their arrangement and compilation as well as the databases and software on which this site is based, are the property of Close Asset Management Limited and protected by intellectual property law. All rights to use the content of this site belong to Close Asset Management Limited and any unauthorised use, including transmission, display, extraction, modification, distribution and reproduction in any media is strictly prohibited.

5 Prohibition against reproduction, etc, of information
You may download or print individual sections of the site for personal use and information only provided you retain all copyright and other proprietary notices. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the site without the prior written permission of Close Asset Management Limited by writing to the registered office provided at Clause 2. If you contravene this provision, neither Close Asset Management Limited, the Close Brothers Group plc, its affiliates, associates or closely linked persons (howsoever defined by law or regulation) nor any of their directors, officers or employees can be held responsible for the reliance any third party may seek to place on the Information. Accordingly, by so contravening, you hereby accept that you shall be responsible/liable in respect of any third party claims under such circumstances. You must not transmit any virus, 'worm', 'Trojan horse', or other item of a destructive nature to this site and it is your responsibility to ensure that whatever you download or select for your use from the site is free from such items.

6 Nature of investments
The price and value of investments and the income from them may rise or fall and may be affected by changes in rates of exchange and market conditions. An investor may not receive back the amount initially invested. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Past performance is not a reliable indicator of future performance.

7 Bases of taxation
The levels and bases of, and reliefs from, taxation may change from the date of publication, including the future taxation of ISAs and share schemes. The tax treatment for individuals is dependant on their particular circumstances and may be subject to change in the future.

8 Banking

Close Bank Guernsey Limited and Close Bank (Isle of Man) Limited are members of the Close Asset Management group ultimately owned by Close Brothers Limited which is incorporated in the United Kingdom and regulated by the UK Financial Services Authority. Both companies place all client deposits with a spread of approved counterparties, including the parent. As such their solvency is dependent upon the financial standing of the Group. Depositors should form their own view of the financial soundness of each bank based on publicly available information. Latest report and accounts are available at www.closeam.com 

Close Bank Guernsey Limited is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' up tp £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any five year period. Details available from www.dcs.gg, Tel +44 (0) 1481 722756 or PO Box 380, St Peter Port, Guernsey, GY1 3FY. 

Eligible deposits made with Close Bank (Isle of Man) Limited are covered by the Depositors Compensation Scheme contained in the Depositors' Compensation Scheme Regulations 2008. 

9 Non-solicitations
The Information is for information purposes only. It is neither an invitation to invest to anyone in any country where the issue of solicitations is unlawful nor forms part of an offer to enter into any product or service mentioned within. It is recommended that you take independent tax and legal advice before entering into any agreement and that you seek independent financial advice as regards any questions you may have in respect of the suitability of products or services offered in this site. The distribution of information regarding the products mentioned in this site may be restricted in certain jurisdictions. Prospective investors should inform themselves of, and observe, all applicable laws and regulations of their governing jurisdiction, including offering restrictions, exchange controls and taxes.

10 Unregulated fund restrictions
Please be aware that certain funds featured on this site are Unregulated Collective Investment Schemes (Hedge Funds)  for the purposes of the Financial Services and Markets Act 2000 (“FSMA”). The promotion of these Funds and the distribution of any document to the general public in the United Kingdom is accordingly restricted by sec 238(1) FSMA. Most of the protections provided by the UK regulatory system and compensation under the UK’s Financial

Services Compensation Scheme, will not be available. The Fund is considered suitable only for informed and experienced investors.
 
11 Privacy and use of data
The privacy of your personal information is very important to us.  Other than as expressly set out below, we confirm that your personal information will not be disclosed, transferred or sold to any third party for any purpose.

If you are based in the UK, the data controller of any personal information you supply is Close Asset Management Limited (CAM). If you are based outside of the UK then the data controller of any personal information you supply is Close Bank Guernsey Limited, (CBG).

Personal information provided by you in response to this website may be retained by us for the purposes of organising your attendance at seminars, marketing by us, and/or providing you with further information relating to our services. This information may be disclosed to our affiliates, associates or closely linked persons (howsoever defined by law or regulation), their directors, officers, employees and agents as well as any government entity or third party, for the purpose(s) outlined above or as a matter of law. To assist with processing data may be transferred out of the European Economic Area. If you do not wish us to use such information for any other purpose, please write to the Data Protection Officer, Close Asset Management Limited, 10 Crown Place, London, EC2A 4FT in the UK or The Director – Product Development, Close Asset Management group, PO Box 116, Trafalgar Court, Admiral Park, St Peter Port, Guernsey, GY1 3EZ, if you are outside of the UK.

Similarly, you have the right to receive information about the personal data maintained about you for which we reserve the right to charge a fee. Should you believe such personal data is not correct, please write to the Data Protection Officer, Close Asset Management Limited, 10 Crown Place, London, EC2A 4FT in the UK or The Director – Product Development, Close Asset Management group, PO Box 116, Trafalgar Court, Admiral Park, St Peter Port, Guernsey, GY1 3EZ, if you are outside of the UK.

Please note that Close Asset Management Limited shall take all reasonable precautions within our control to ensure that the information you provide online is kept confidential to Close Asset Management Limited during transmission, but you hereby acknowledge that the transmission of such information on the Internet is open to risk. Accordingly, no liability is accepted for any such information that falls into third party hands in such a way that is beyond the reasonable control of Close Asset Management Limited.

Telephone calls made to any member of the Close Asset Management group may be recorded and recordings may be used for training purposes or to meet our Regulatory requirements. Any data provided during the call will be used and held in accordance with the relevant data protection requirements.

Data provided by non-UK residents will be hosted and held outside of the UK unless agreed otherwise with you.

This website uses cookies.

The registration form on this website uses 128-bit SSL encryption, ensuring the secure transmission of your personal information.

12 Links to other websites
You may leave this website when accessing certain links on this website. In so doing, you may access site(s) operated by organisations which are not regulated under the UK Financial Services and Markets Act 2000. Close Asset Management Limited accepts no responsibility for the content of such websites nor the services, products or items offered through such websites. Close Asset Management Limited accepts no responsibility for any data transmission errors including, but not limited to, any direct or indirect loss, arising out of the use of the services provided herein.

Closeam.com contains links to other Internet websites or online services provided by independent third parties ("Third Party Sites"), either directly or through frames. Third Party Sites may be co-branded with Close and so include the Close trade mark. Close is not responsible for the availability or content of Third Party Sites and will not be a party to, or in any way responsible for, any transaction concerning goods or services available from such Third Party Sites. If you purchase products or services from a Third Party Site your contract for such products or services will be with the third party and not with Close. Our Privacy Policy does not apply to Third Party Sites.

13 Accuracy and update of Information
This website is subject to regular update and revision. While we attempt to ensure the correctness and timeliness of all material posted on the website at the time of publication, we take no responsibility for errors or omissions which are the result of technical causes, or otherwise. We maintain the right to delete or modify, in part or in full, any information on this website without any prior notice.

Any research in this website has been procured and may have been acted upon by Close Asset Management Limited for its own purpose. The results are being made available on this site only incidentally.

The views expressed herein do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in the Close Brothers Group plc or any part thereof and no assurances are made as to their accuracy.

The Self Assessment Tax Service is not regulated.