Common use of Appropriateness Clause in Contracts

Appropriateness. In general, where we provide investment services or asset management services, we will need you to provide us with the information regarding your knowledge and experience in the investment field relevant to the specific type of product and service offered or demanded, in order for us to assess whether the service or product envisaged is appropriate for you. Please note that we are entitled to assume that you have the necessary level of experience and knowledge to under­ stand the risks involved in relation to particular products, transactions or services for which you have been categorised as a Professional Client. If you are an Eligible Counterparty, we do not have to under­ take an assessment of whether any products, transactions or services for which you have been categorised as an Eligible Counterparty are appropriate for you. Please also note that we are not required and will not unless agreed with you assess the appropriateness of a financial instrument or service provided or offered to you where the service only consists of execution or reception and trans­ mission of client orders for non­complex instruments at your own initiative. In such cases therefore you will not benefit from the protections of the Applicable Regulations relating to an assessment of appropriateness. Third party research We may receive research from third parties in connection with a service and may, in accordance with Applicable Regulations, pay for such research from a research payment account funded by clients. We may charge you a research charge, for the purposes of funding such research payment account. We shall operate such research payment account in accordance with our research policy, as amended from time to time, a copy of which is available on request. Furthermore, in respect of such research charges: