Mayfair Capital Limited

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.
• Requirement regarding an asset restriction and record keeping

  Asset Requirement 1. 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 customers (whether in the United Kingdom or elsewhere). 2. The Firm must ensure that all relevant funds are appropriately ringfenced in a designated client money account or accounts. For the avoidance of doubt, if this requires a transfer between accounts, this must be done with the prior written consent of the FCA. 3. The assets 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 £1,000, whether as a single transaction or a combination of related transactions. The following payments shall not be regarded as payments in the ordinary course of business: a. Payments of unusual or significant amounts to the shareholders, directors, officers, employees or any connected persons. b. The making of any capital distribution. 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). 4. The assets restriction does not apply to: a. Transactions giving effect to instructions initiated by customers. b. Payments of funds to the business and in satisfaction of the obligations. c. Usual and proper salary payments made by the Firm. Secure records 5. The Firm must secure and preserve all records and/or information (physical or electronic) relating to the Firm's business from its systems in their original form, or in a copy proved to be identical to the source material. These must be retained in a form and at a location within the United Kingdom, to be notified to the FCA in writing by two business days from the Effective Date, such that they can be provided to the FCA, or to a person named by the FCA, promptly on its request.