Important Information

Investor Protection

One of our most important responsibilities is to ensure your assets are both safe and secure. With this in mind, we have put in place a policy with a major insurance company, which provides substantial protection in addition to that offered by the Financial Services Compensation Scheme (FSCS).

In general terms, as a client you will enjoy the following level of protection of your assets:

Regulatory Protection

Under the Financial Services Compensation Scheme (FSCS), in the unlikely event that any of the banks that we use is declared in default, each individual client is entitled to up to a total of £75,000 in compensation for losses across all their deposits with that institution. The FSCS also provides clients of Jarvis (and other organisations regulated by the FCA), compensation of up to £50,000 per investor for UK securities.

Additional Protection

In addition to the regulatory protection, as a client of ours you will enjoy further protection in the event of negligence, fraud or misappropriation through our professional indemnity policy. This provides further cover in excess of £3 million. The Financial Conduct Authority (FCA) dictates the terms and conditions of the policy and the level of protection to Jarvis.

This protection only comes in to play should something happen, but of equal importance is the protection afforded to clients by the regular financial monitoring procedures of the FCA, HM Revenue and Customs and our auditors, all of whom conduct regular reviews.

In the unlikely event that Jarvis ceased trading for any reason, creditors would not have any claim on client assets, either cash or stocks.

Order Execution

Jarvis Investment Management Ltd ("Jarvis") is required to establish and implement an order execution policy and to provide appropriate information on its order execution policy to its clients. This information about Jarvis's order execution policy is applicable to all retail clients of Jarvis.

  • General Principles

    When executing or routing orders in relation to financial instruments on your behalf, we will take all reasonable steps to achieve what is called 'best execution'. This means that our policy and procedures are designed to obtain the best possible execution result, subject to and taking into account your characteristics, client classification (categorisation as a retail client) and the characteristics of the order, the financial instruments that are the subject of that order and the Execution Venues to which that order can be directed.

    Our commitment to provide our clients with best execution does not mean that we have any fiduciary responsibilities over and above the specific regulatory obligations placed upon us or as may be otherwise contracted to.

  • Order Execution Policy

    Subject to any specific instructions from you, when executing orders on your behalf or transmitting them to another entity for execution, we shall take all reasonable steps to achieve the best possible execution result for your order taking into account the execution factors listed below:

  • Execution Factors

    The execution factors that will be taken into account are:

    • price;
    • costs of the transaction;
    • speed of execution;
    • likelihood of execution and/or settlement;
    • size and complexity of the order;
    • characteristics and nature of the order;

    Ordinarily price and overall costs for transacting the deal will merit a high importance in obtaining the best execution result for the order. However, in some circumstances we may determine that other factors listed above may be more important in determining the best execution result for the order. We will exercise our own discretion in determining these factors.

  • Execution Venues

    Jarvis will execute deals through:

    • Regulated markets - a large proportion of the orders we execute is traded on the London Stock Exchange
    • Multilateral Trading Facilities
    • Systematic internalisers
    • Market makers for their own account
    • Other liquidity providers
    • Non-EU entities performing similar functions

    For certain transactions, such as those where the security is traded by a limited number of entities, Jarvis may use alternatives where we consider it is in your best interests to do so.

    Where we consider it preferable, we may execute you order outside a Regulated Market or Multilateral Trading Facility even where that order could be executed through one of these.

  • Delivering Best Execution

    Having given consideration to the Execution Factors and General Principles referred to above, we will select the most appropriate venue(s) from those available and execute your order accordingly.

    If you give a specific instruction with regard to order execution, you should be aware that this may mean that you will not achieve the best outcome on that trade. Jarvis will carry out the order in accordance with your specific instruction and will be deemed to have complied with the best execution requirement to the extent of that instruction.

  • Review and Monitoring

    Jarvis will monitor execution quality and compliance with our Execution Policy on an on-going basis and will at least once a year make a formal assessment of its dealing policies. You will be notified of any material changes to the Execution Policy.

  • Limit Orders

    In the case of client limit orders in respect of shares admitted to trading on a regulated market which are not immediately executed under prevailing market conditions, unless you expressly instruct otherwise, we are required to take measures to facilitate the earliest possible execution of that order by making public immediately your limit order in a manner which is easily accessible to other market participants. Such publication may not always be in your interest so unless you give explicit instructions to publish at the time that you place the order with us, we shall deem that you have instructed us not to publish.

    The circumstances when we can publish your Limit Order(s) are:

    • The Limit Order must be placed by telephone during normal market hours;
    • The order size must be within the normal market size dictated by the market upon which the stock is listed, i.e. London Stock Exchange (LSE);
    • The stock must be an "order driven stock", i.e. a stock that can be published on the LSE order book;
    • You may only choose a settlement period of T+2; and
    • The limit order is 'Good for The Day' i.e. your order will be published until the market closes on the same day.

Conflicts of interest policy

At Jarvis, we expect our business activities to be conducted honestly and with integrity. We believe that it is good business practice to try to identify and manage conflicts of interest which could harm our client's interests.

Our commitment

We are committed to identifying and managing the risk of a conflict of interest to make sure that we treat our customers fairly and comply with the law and regulations.

As part of this, we consider conflicts involving Jarvis Investment Management and the firm's individuals. For example:

  • Any of our directors, managers or employees;
  • Other people or companies we use to provide investment and related services (for example: appointed representatives or consultants).

What is a conflict of interest?

We provide a wide range of services to many different clients. Sometimes circumstances may arise where our duties to customers differ from what is best for us or for another client. This is a conflict of interest. We take our responsibility to identify and manage conflicts of interest fairly between us and our client's, or between two different clients, very seriously.

Principal 8 of the FCA's Principles for Business states that "a firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client".

When could a conflict of interest affect me as a customer?

A conflict of interest could result in Jarvis having an unfair advantage over you that you are not aware of. For example where we:

  • are likely to make a financial gain or avoid a loss at your expense.
  • have an interest in the outcome of a service we give you, or a transaction we make for you, which is different from your interest in the outcome.
  • have an incentive to favour the interest of one client, or group of customers, over another.
  • could receive an inducement (such as money, goods or services) for a service we provide other than the standard commission or fee for that service.

How do we deal with conflicts of interest?

The first step in dealing with conflicts of interest is to make sure that we can identify any real, or potential conflicts. To do this, we have procedures in place to prevent, identify and report conflicts of interest between us and our clients, and conflicts between one customer and another. These include:

  • A review of new business activity we may want to start to find out whether it results in any new conflicts of interest.
  • Designing the aims of the Jarvis and the personal objectives of employees to deliver fair treatment of customers as well as driving our commercial success

While we do everything we can to avoid a conflict, where this is not possible we make sure we manage any conflicts of interest to avoid any material risk, disadvantage or loss to clients. In every case, a senior member of staff will own and manage any conflict of interest we have identified. We also keep a written record of conflicts and potential conflicts of interest that involve a risk of damage to the interests of one or more clients.

If we believe we may not be able to effectively manage a potential or actual conflict of interest that affects clients, we will tell them about this. We will also tell them what steps we will take to reduce the risk of damage to their interests. We will give clients enough information to allow them to decide whether to do business with us regardless of the conflict.

How do you manage conflict of interests that might affect clients?

To help you understand the way we work to manage potential conflicts of interest we've included a few examples of our activities:

  • We operate appropriate systems and controls to manage confidentiality and security of information so that we do not disclose client confidential information inappropriately.
  • The nature of our business is non-advisory.
  • We design reward structures for our employees that are not target-based.
  • We do not impose unfair conditions when pricing products.
  • We operate appropriate restrictions and controls where our employees have outside interests that could cause a conflict of interest.
  • We operate personal account dealing policies for our employees and monitor their accounts.
  • We take all reasonable steps to carry out client orders to buy or sell their investments in a fair way that does not benefit us.
  • We do not seek to gain from delays in paying out client money.
  • We aim to pay the right amount for genuine claims, and to pay these quickly.
  • We have processes in place to deal with complaints fairly and objectively.

Pillar 3 disclosure

The European Union Capital Requirements Directive introduced a revised regulatory capital framework governing the amount and nature of capital that must be maintained by credit institutions and investment firms. In the UK the directive has been incorporated by the FCA into its regulations through the General Prudential Sourcebook ('GENPRU') and the Prudential Sourcebook ('BIPRU') for banks, building societies and investments firms. See our Pillar 3 disclosure.

Complaints Policy

In the event of a complaint regarding our service, please write to:

The Compliance Officer
Jarvis Investment Management Ltd
78 Mount Ephraim
Tunbridge Wells
Kent, TN4 8BS

Or email sellmysharecertificates@jarvisim.co.uk

When we receive your complaint we will log it in our register and try to resolve the matter straight away. If we are unable to do this, we will normally provide a written acknowledgement of your complaint within 3 business days of its receipt.

Once our investigations are complete, we will write to you with our final response. Unless we have been able to resolve the matter straight away, our final response will notify you of your right to refer your complaint to the Financial Ombudsman Service (FOS) if you remain dissatisfied - a copy if the FOS leaflet will also be included.

You may contact the Financial Ombudsman Service at:

The Financial Ombudsman Service
Exchange Tower
London
E14 9SR

You can also contact them online via their website at: http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Terms and conditions

Please download our terms and conditions document.