Legal Notices (Tullett Prebon)

Tullett Prebon provides wholesale broking services. It does not provide services to private customers. Information on the website is provided for informational and demonstration purposes only. The products described on the website may not be eligible for sale in all jurisdictions. You are advised to contact your local Tullett Prebon adviser before entering into contractual relations. Unless otherwise stated all information is sourced by Tullett Prebon. Tullett Prebon does not guarantee the accuracy or completeness of the information or any analysis based on it. The information on the website has no regard to the specific investment objectives, financial or otherwise of any specific recipient. The information is neither a solicitation nor an offer to buy or sell any securities or related financial instruments. The information should not serve as the basis of any investment decision. Nor is it intended to create contractual obligations. The information is based on information obtained from sources believed to be reliable but is not guaranteed as accurate, or a complete statement of the securities, markets or developments referred to. Any opinions are subject to change without notice and Tullett Prebon is not under any obligation to report or keep information accurate. Tullett Prebon accepts no liability whatsoever for loss or damage arising from the use of this website (including without limitation any warranties of merchantability or fitness for a particular purpose). Tullett Prebon will not be responsible in any circumstance for economic loss or any indirect or consequential loss or damage without limitation including any loss of business or any loss of profit from the use or inability to use or any inaccuracy in the information. Certain laws and regulations impose liabilities which can not be disclaimed. This disclaimer shall in no way constitute a waiver or limitation of any rights a person may have under such laws and/or regulations. Certain products are not suitable for all investors. Past performance is not necessarily a guarantee of future performance. Foreign currency rates of exchange may adversely affect the value, price or income of any product mentioned on the web site. Tullett Prebon reserves the right to amend or change information on this website without notice including the right to deny access to the website.

Tullett Prebon (Treasury & Derivatives) Limited, Tullett Prebon (Securities) Limited, Tullett Prebon (Equities) Limited and Tullett Prebon (UK) Limited are all authorised and regulated for the conduct of investment busines in the UK by the Financial Services Authority.

Under the newly implemented EU Electronic Commerce Directive ("e-commerce"), we are required to make certain disclosures to recipients of relevant e-commerce communications and services provided by entities incorporated in the UK and the EU. If you are in doubt about which company you are dealing with in relation to a particular service or communication then please contact the Tullett Prebon Compliance Dept. Persons accessing this site are required to keep themselves informed of and observe any relevant restrictions.

Tullett Prebon Conflict Management Policy - Statement of Policy

The following rule and subsequent policy is to ensure that all investment research material is defined as objective and impartial in its content unless stated otherwise. The following policy is in accordance with FSA Handbook Conduct of Business Rule 7.16 - Investment Research. Should you require further details on this rule please see www.fsa.gov.uk (this will take you out of the cstplc.com domain).

The Policy:

All published research that is externally distributed will be objective and impartial in its content.

Any information or facts which would materially affect the research known to the author at the time that would render the content to be of a non-objective or biased nature will be disregarded when producing any research.

All authors are directly employed by and represent at all times either Tullett Prebon (Equities) Limited, Tullett Prebon (Securities) Limited, Tullett Prebon (Treasury & Derivatives) Limited or Tullett Prebon (UK) Ltd all of which are authorised and regulated by The Financial Services Authority for the conduct of investment business in the UK, including the provision of advice on investments.

All authors are obliged to abide by this policy at all times. Any Tullett Prebon employee giving research and advice, either written or orally, will do so in the best interests of all Tullett Prebon clients with complete impartiality. In conjunction with this Conflict Management Policy there currently exists an Independence Policy to which all authors and brokers adhere so as to maintain clients’ interests at all times and which they are obliged to be bound by prior to any research being produced.

Any publication produced which does not adhere to the conflict management policy will be clearly stated as such to the recipient at the time of presentation.

Should you require further information on this policy and what it means for you then please contact the Tullett Prebon Compliance Department on +44 (0)20 7200 7912.

Please note that this is intended for wholesale professional customers only and Tullett Prebon does not deal for, or advise upon investments for private clients or individuals.