REGULATOR'S STATEMENT

Those who advise on life assurance, pensions or unit trust products are:

EITHER INDEPENDENT ADVISERS

OR REPRESENTATIVES OF ONE COMPANY.

Your adviser is independent, and will act on your behalf in advising you on life assurance arranging life assurance, pensions or unit trust products. Because your adviser is independent he or she can advise you on the products of different companies.

1. Introduction

Independence Direct Consulting is regulated by the Financial Services Authority (FSA) and is authorised to act as an investment adviser and life assurance, pension or unit trust intermediary, and arrange the purchase or sale of ready realisable securities through a member of the Securities and Futures Authority, and is bound by the rules of the FSA

2. Personal Interest in Business

We offer you independent advice but if we are aware that either ourselves or one of our customers has a material interest in business which we are transacting for you, we will advise you in writing of that interest and obtain your consent before proceeding.

3. Authority to act

In order to avoid possible disputes, written instructions will normally be required before we act for a client. We will however, accept oral instructions provided they are followed up in writing. Either party may terminate our authority to act on your behalf at any time, without penalty and without prejudice to the completion of any transaction already initiated on your behalf, by giving 7 days written notice of termination

4. Advice

Any advice given to you will be given in writing (or if given verbally will be recorded in writing in the client file.)

5. Remuneration

No charge will be made to you for our services without prior notice and agreement with you. If we propose to make a charge ,the basis will be explained, agreed with and by you and confirmed in writing before we carry out any chargeable work. Normally we derive income from commission paid to us by life assurance companies or unit trust managers with which investments are made. We shall tell you the amount of commission payable to us on any such investment
If we receive commission or any other form of benefit from the issuer of a security or from another intermediary, we will inform you, but will not tell you its amount unless you ask us to do so

6. Clients Monies

WE ARE NOT AUTHORISED TO HANDLE CLIENTS MONIES. All cheques for premiums or investment monies of any kind must be made payable to the life company or investment operator. In no circumstances must a cheque be made out to or cash be given to Independence Direct Consulting which is investment money of any kind.

7. Complaints

If you should have any complaint about the advice you receive or a product which you have bought please write to our Compliance Officer. Under the rules of the FSA you have the right to forward any complaint directly to them if you are not happy with our response.

8. Registration of Investments

All investments purchased through us will be registered in your name unless otherwise agreed in writing. We will forward to you all documents of title to investments as soon as practicable after we receive them. Where a number of documents relating to a series of transactions is involved we will normally hold the documents until the series is complete and then forward them on to you.

9. Review of Investment

When we have arranged any investments for which you have given us instructions we will not, unless otherwise agreed in writing, give you any further advice unless you request it.

10. Right to Inspection

We keep records of all our business transactions for six years. You may inspect contract notes, vouchers and entries in books whether kept manually or electronically. We treat all clients records as confidential, so we reserve the right to give you copies of your particular records rather than allow access to files containing records about other clients

11. Professional Indemnity Insurance

Investors Compensation Scheme
We maintain professional indemnity insurance that satisfies the level of cover stipulated my the FSA. If you make a valid claim against us in respect of the investments we arrange for you and we are unable to meet our liabilities in full, you may be entitled to redress from the Investors Compensation Scheme. A leaflet giving details is available on request. Further information is available from the Financial services Authority and the Investors Compensation scheme

12. Non Investment Services

Some of the services provided by Independence Direct Consulting are not regulated by the FSA since they are not included in the Financial Services Act. These include, but are not limited to, general insurance and mortgages.

13. Law

These terms of business are governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English courts