Facet Investment Management Ltd

Limits on the record

• This firm may handle your money in passing but must not hold it, so payments should go to the product provider, never to a personal account.
• FACET Investment Management Ltd (including its AR Berkeley Financial Partners Ltd (FRN: 654149)) must not, without the prior written consent of the FCA carry out any regulated activity for which is has Part 4A permission. Furthermore, the Firm must not di

  Requirement 1 – Restriction on regulated activities 1. The Firm (including for the avoidance of doubt its Appointed Representatives) must not, without the prior written consent of the FCA, carry out any regulated activities for which it has Part 4A permission. Requirement 2 – Asset restriction 2. The Firm must not, without the prior written consent of the FCA, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds for, or to the order of, its clients (whether in the United Kingdom or elsewhere). 3. For the avoidance of doubt, transfers between the Firm’s banks or securities accounts fall within the scope of the restriction in paragraph 2. 4. This asset restriction does not apply to monetary payments, or the disposal of assets made by the Firm in the ordinary course of business, amounting to no more than £5,000, whether as a single transaction or a combination of related transactions. 5. For the purposes of paragraph 4, the following payments/transactions shall not be regarded as payments/transactions in the ordinary course of business: a. Payments of unusual or significant amounts to the Firm’s controllers, shareholders, directors, officers, employees, or any connected person(s). b. The making of any distribution to shareholders whether by way of capital distribution, dividends, or any other payments. c. The making of any gift or loan by the Firm to any party. d. Payments made as part of any financial restructuring or reorganisation of its business (whether share or asset based). 6. The requirement in paragraph 2 does not apply to: a. Transactions giving effect to instructions initiated by customers for whom the Firm has express written consent of the Authority to conduct regulated activities for which it has Part 4A permission. b. Payments of funds to the Firm’s suppliers in the ordinary course of business and in satisfaction of the Firm’s contractual or other legal obligations. c. Usual and proper salary payments made by the Firm. d. Payment of funds in accordance with any award made by the Financial Ombudsmen Service. Publication 6. The terms of the requirements herein will be published by the FCA on the Financial Services Register upon being accepted by the FCA. Effective date 7. The Requirements in this application are to take effect immediately on their acceptance by the FCA and notification of such to the Firm by email. 8. The Requirements will remain in force unless and until varied or cancelled by the FCA (either on the application of the Firm or of the FCA’s own volition).