Exemptions from Section 21

Our financial promotions are exempt from the general restriction (in section 21 of The Financial Services And Markets Act 2000 (Financial Promotions) Order 2005) on the communication of invitations or inducements to engage in investment activity on the grounds that it is made to a:

• Certified High Net Worth Individual (Article 48 of the Act)
• High Net Worth Company (Article 49 of the Act)
• Certified Sophisticated Investor (Article 50 of the Act)
• Self-Certified Sophisticated Investor (Article 50a of the Act)
• Members of an association of High Net Worth or Sophisticated Investors (Section 51 of the Act)

What is Required to Qualify: The Details 

A certified high net worth investor is an individual who has signed, within the period of twelve months ending with the day on which the communication is made, a statement in the following terms: 

Statement for High Net Worth Investor

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified High Net Worth Investors and I declare that I qualify as such because at least one of the following applies to me:

(a) I had, during the financial year immediately preceding the date below, an annual income to the value of £170,000 or more.

(b) I held, throughout the financial year immediately preceding the date below, net assets to the value of £430,000 or more. Net assets for this purpose do not include:

(i) The property, which is my primary residence or any loan secured on that residence.

(ii) Any rights of mine under a qualifying contract or insurance within the meaning of the Financial Services and Marketing Act 2000 (Regulated Activities) order 2001: or

(iii) Any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependents are). Or may be entitled.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me to seek advice from an authorised person who specialises in advising on non-mainstream pooled investments.

A self-certified Sophisticated Investor

Statement for Sophisticated Investor

I am a self-certified sophisticated investor because at least one of the following applies:

(a) I am a member of a network or syndicate of business angels and have been so for at least 6 months prior to the date below;

(b) I am working, or have worked in the two years prior to the date below. In a professional capacity in the private equity sector, or in a provision of finance for small and medium enterprises;

(c) I am currently, or have been in the two years prior to the date below, a director of a company with an annual turnover of at least £1.6 million.