Terms of Business

TERMS OF BUSINESS

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 on life assurance, pensions, or unit trust products. Because your adviser is independent he or she can advise you on the products of different companies.

NBC Direct is a marketing division of Nigel Bourke & Co. NBC Direct will only transact business on an Execution Only basis which means that advice has not been given in respect of the suitability of the investment. Advice can only be given when a detailed investigation into a clients financial and personal circumstances has been carried out. In those circumstances, discounts nor commission rebates will apply.
We are regulated by the Financial Services Authority (FSA) and are bound by their rules. We are authorised as an INDEPENDENT ADVISER to advise on and arrange insurance policies, pension plans, and collective investment schemes.
We also advise on and arrange business that is not regulated by The Financial Services Act 1986. These are term insurance, medical insurance, health insurance, PHI, and mortgages. These products or services are not all covered by the Investors Compensation Scheme. Where this is the case we will advise you when we arrange any of these for you.
We offer independent advice, but occasions can arise where we, or one of our other customers will have some form of interest in business which we transact for you. If this happens or we become aware of that interest or those of one of our customers conflict with your interests, we will inform you and obtain your consent in writing before we carry out your instructions.
When we have arranged any investments for which you have given instructions we will not give you any further advice unless you request it, but will be glad to advise you at any time you ask us to do so.
We require our clients to give us instructions in writing. We will accept oral instructions at our discretion which must be confirmed in writing.
Our authority to act on your behalf can be terminated at any time, without penalty by either party without prejudice in writing.
You or your appointed agent can inspect documents solely relating to the transactions of your investments, we reserve the right to provide copies where the original documents would allow access to information of other clients transactions. All our records will be retained for a minimum of six years, or longer if specified by our regulators.
Unless you give instructions that we will be remunerated on a fee paying basis, we will receive commission form the product providers. If we propose to make a charge, we will agree its basis in writing with you before carrying out any chargeable work.
We derive income from commission paid to us by life companies and unit trust managers with which investments are made, and in the case of all policies taken out after the 31st December 1994 (including pension products unless it is a defined benefits scheme or a pension fund management policy) we shall tell you the amount of commission payable to us on any such investment. In the case of all other regulated products taken out prior to that date you will receive from the operator, or ourselves, details of the commission we receive. If we receive a commission or other form of benefit from the issuer of a security to another intermediary, we will inform you, but will not tell you its amount unless you ask us to do so.
Where we receive commission from a product provider on a level or single premium basis for a regular premium contract, and providing premiums are maintained either continually or irregularly, we will be entitled to the commission from the provider on the initial investment and any increases through our agency for a period of not less than five years premium paid years from the date of the policy or increases.
Where we are required to verify your identity in accordance with the Criminal Justice Act 1993 and the Money Laundering regulations, no investment will be made until such verification has been obtained.
If you have any complaint about the advice you have received or a product you have taken out through us, please write to the Compliance Officer, Nigel Bourke & Company, 2 Yarm Road, Stockton. TS18 3NA: 01642 670307.
All investments will be registered in your name unless you first agree in writing.
We will forward to you all documents as soon as possible after we receive them.
FOR YOUR ADDITIONAL SECURITY WE DO NOT HANDLE CLIENTS MONEY.
If you make a valid claim against us in respect of investments we arranged or bought or sold for you and we are unable to meet our liabilities in full, you may be entitled to redress from the Investors Compensation Scheme ('ICS') to which we belong; details of the cover provided by the ICS are given in a leaflet which we will send you at your request. Further information is available from the Financial Services Authority and the ICS.
It is understood that we keep personal and financial information with regard to your circumstances on file (electronic and paper based) as required to be able to advise you as to your investment needs. We confirm that the information was correct at the time it was obtained from you. We confirm that this information will not be used, or transferred by us to any other firm or company. We confirm that we can not be held responsible for the information held on your file becoming inaccurate due to your change of circumstances if you fail to inform us of those changes.

(5/4/00)

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