Quest Investments

TERMS OF BUSINESS
Please retain a copy of this document

Quest Investment Services Limited (hereinafter referred to as the “Company”) is a limited liability company formed and registered under the laws of Malta and is licensed and regulated by the Malta Financial Services Authority. The Company holds a Category 1a license bearing Licence No. IS/26866, issued in terms of the Investment Services Act.

The Licence Conditions of the company require that all investment business with clients is carried on pursuant to written terms and conditions setting out the rights and obligations of the parties and the other terms on which the Company will provide services to the client.
In terms of its Licence, the Company can not hold Clients’ money or assets in its own name on behalf of the Client as these assets are held directly in the Client’s name and held with the financial institution or authorised custodian with whom the deal has been placed.

In the provision of its services to the Client the Company shall act, honestly, fairly and professionally in accordance with the best interest of the client and in terms of Investment Services Act and all rules and regulations issued there under.

Client Classification - On the basis of the information provided in the Client Profile, and in terms of the Investment Services Act, the client is aware and acknowledges to being categorised as a:

retail client - professional client - eligible counterparty

The client acknowledges that the Company has explained to him/her/it what this categorisation means and that he/she/it is entitled to request a change in categorisation in terms of law.

Client Information - The Company shall proceed in respect of the Client and in so far as the provisions of services are concerned on the basis of the information, investment objectives, and Client Profile furnished by the Client.
The Client acknowledges the information provided to the Company in the Client Profile to be truthful. The Client represents warrants and undertakes to the Company that particulars given to the Company are strictly accurate, true and complete. The Client undertakes to notify the Company immediately of any change in the particulars of the Client. Until the Company receives any notice of such change in a durable medium, the Company will rely on the records in the form last submitted by the Client. The Company is not obliged to verify any particulars furnished by the Client and the Company shall not be liable or responsible for any loss, damage, costs, charges and/or expenses suffered or incurred by the Client or any other person by reason of any error or omission in the completion of the application/Client Profile or in the furnishing of the particulars or in the instructions given by the Client. The Client is aware that where he/she/it has opted not to provide the information required in the Client’s Profile, the Company cannot determine the suitability and/or the appropriateness of the service or product provided to him, in terms of the Investment Services Act and MIFID.

Data Protection Act - The Client and/ or beneficial owner/s of the Client hereby provides his/her/their unambiguous consent for the processing of his/her/their personal data by the Company in terms of the Data Protection Act for the following purposes:

Advertising, marketing and public relations;
Accounting and auditing;
Consultancy and advisory services;
Information and databank administration as a reference tool or general resource; and
Provision of financial services.

Client and/ or beneficial owner/s of the Client has/have also been made aware that any personal data disclosed to the Company from time to time may be transferred to product providers, investment institutions and/or regulatory or public authorities, in any country or jurisdiction whatsoever, as may be required from time to time to enable the Company to provide its services to the Client and/or to comply with its regulatory or other obligations in terms of law. On the basis of the foregoing, the Client and/ or beneficial owner/s of the Client gives the Company his/her/their unambiguous consent to such transfers of personal data by the Company.

Company is authorised by Client and/ or beneficial owner/s of the Client to process personal data for the purposes of direct marketing, and of informing the Client of any new products and/or services. Client and/ or beneficial owner/s of the Client may oppose such processing by the Company at any time by giving written notice of such opposition to the Company.

Conflict of Interest - When the Company deals for the Client or gives investment advice to the Client, the Companyy, and any associated company may have an interest, relationship or arrangement that is material in relation to the transaction, investment or advice concerned. The Company shall in any such case disclose any interest, relationship or arrangement of which it is aware and which is relevant to the Client’s dealings.

Records - Records shall be kept for ten years from the date of transaction. The Client has the right to inspect, during office hours and accompanied by a Company representative, all contract notes, vouchers and copies of entries on books and electronic recording media relating to the Client’s transactions.

Investment Advice - The Company shall take every reasonable care in giving investment advice to Clients, and any such advice shall be based on information generally available which the Company believes to be reliable and relevant at the time, based upon the Client Profile and the market and economic factors prevalent at the time; but the Company shall not guarantee the accuracy of any such information. Any information or advice given to the client, whether orally or otherwise, are statements of opinion only and no express or implied representation or warranty is given or may be implied there from. Neither the Company nor any associated company accepts liability whatsoever for any direct or consequential loss arising from its advice, save where such loss is the direct result of the Company’s negligence.

In the event that the Client, being a Retail Client, authorises the Company to make investments in higher risk investments, such as warrants, options, futures and rights under contracts for differences, on its behalf, the Client is hereby warned that such investments carry a higher degree of risk than is normally associated with other investment instruments.

Off Regulated Market Transactions - The Client acknowledges that where financial instruments are not admitted to trading on a Regulated Market (RM) or Multi Lateral Trading Facility (MTF) , he/she/it expressly grants his/her/its consent to the execution of his/her/its order outside an RM or MTF.

Regulated market – is a market place, trading system or exchange which meets the minimum EU standards set out in title III of the MiFID. Under MiFID, entities that offer multilateral trading for financial instruments (such as an order book), must be organised as either a regulated market or an MTF, with slightly different standards applying to each.
Multilateral Trading Facility – is, in broad terms, a system that brings together multiple parties (e.g. retail investors or other investment firms) that are interested in buying and selling financial instruments and enables them to do so. These systems can be crossing networks or matching engines that are operated by an investment firm or a market operator. Instruments may include shares, bonds and derivatives. This is done within the MTF operator`s system.

Remuneration - The Company is remunerated through fee-sharing structures in place between the Company and the product provider or investment institution or with whom Client’s business is placed. This fee-structure will apply in the absence of any alternative, specific remuneration structure being agreed upon by the Company and the Client in writing. Client accepts that he/she/they shall be solely responsible for exchange control fluctuation risks, bank charges, insurance charges and any other taxes and third party fees or charges relating to the products, services or funds acquired by the Client through the Company.

Tax - Whilst the Company regularly provides its clients with general guidance relating to the Malta tax treatment of particular products or assets held within their portfolios, the Company does not hold itself out to be a tax consultant. The Client shall remain solely responsible for any obligation to submit tax assessments, returns or other declarations and the Company shall not accept any liability for any tax-related loss or damage incurred or suffered by the Client.

Communications/Correspondence - The Company shall only accept signed instructions from clients in the English language dispatched to the Company by means of:

 Original application form is to be mailed to Quest Investment Services 64B Regent House Bisazza Street Sliema SLM 1641
 Applications to deal are to be faxed on 21313733. The original application form is to be received at the Company office. The product provider will only execute the purchase or redemption instructions on receipt of such original.

The Company shall in circumstances that shall be determined on a case by case basis accept oral or telephone instructions provided the same are confirmed in writing by the client as soon as practicable. The Company reserves the right not to execute instructions before written confirmation of the same has been received to the satisfaction of the Company. The Client is aware and acknowledges that the Company may record any oral and/or telephone instructions, and consents to this. The Company shall not be liable for any communication dispatched by the client to any address or in any way not foreseen and indicated herein.
All notices, demands and communications by the Company to the Client may be sent or dispatched either directly to the Client by delivery, post, e-mail or facsimile transmission or any other means deemed appropriate by the Company to the e-mail or other address or facsimile number of the Client last known to the Company.

Administration/ Miscellaneous - The Client shall receive by mail a Contract Note representing the execution of a sale or purchase of a financial instrument effected on every occasion that any such transaction is carried out. The company will issue statements of accounts twice yearly or at the Client’s specific request against an agreed fee.

Transactions in each Investment Product may be subject to further terms and conditions as the Company may specify from time to time. Each particular service may be governed by additional and separate terms and conditions as specified by the Company.

The Client undertakes with the Company and agrees to indemnify and keep the Company indemnified from and against and in respect of all liabilities, losses, damage, costs, charges, expenses (including legal fees and costs on a full indemnity basis), claims, demands, actions and proceedings whatsoever which may be taken against or incurred or sustained by the Company directly or indirectly from or by reason of or in relation to or arising from or in connection with the provisions of any services in respect of any use or purported use by the Client of the services provided by the Company, and the Client shall pay and reimburse the same on demand at any time or from time to time.

The Company shall be under no liability for any delay, loss, damage, costs, charges or expenses caused wholly or in part by any act of God, governmental restriction, condition or control, breakdown in communication systems or by reason of any other act, matter or thing beyond its reasonable control.
The Company does not provide any warranty relating to the solvency of any fund or to the future performance or return of any stock, share, product or service whatsoever. The Company shall not be held liable for any loss or damage suffered by the Client save where such loss or damage occurs through the fault of the Company, its employees or agents.

The provision of the service(s) governed by these terms and conditions may be terminated by the Company in its absolute sole discretion by the Bank, giving written notice of such discontinuation to the Client and may be cancelled by the Client giving to the Company not less than 14 days notice. Such discontinuation by the Company shall take effect from the date stated in the notice, which in most instances shall be no less than 30 days from the date of the notice.

The Client`s relationship with the Company, the provision of all services, the implementation of all Orders, shall be subject at all times to all relevant or applicable statutes, laws, rules, regulations, directives and circulars (whether of a governmental body or authority in relation to which the Company or any of its associated corporations or entities is a member, or otherwise subject ). The Company may take or refrain from taking any action whatsoever, and the Client shall do all things required by the Company in order to procure or ensure compliance with these applicable laws. These terms and conditions governing investment services with the Company shall be governed by the laws of Malta and the Client irrevocably submits to the jurisdiction of the Courts of Malta.

The Company may at any time at its absolute discretion and upon written notice to the Client in due time, change any one or more of these terms and conditions.

Notwithstanding the foregoing provision, if the Client does not accept such change(s), the Client shall forthwith discontinue operating the Investment Account/use of the service(s) governed by these terms and conditions and instruct the Company to close his portfolio opened in his name. Where the Client continues to operate the Account(s)/use the service(s) after such notification, the Client shall be deemed to have agreed with and accepted such change(s).

The Client shall receive by mail a Contract Note representing the execution of a sale or purchase of a financial instrument effected on every occasion that any such transaction is carried out.
The company will issue statements of accounts twice yearly or at the Client’s specific request against an agreed fee.

The Company may at any time at its absolute discretion and upon written notice to the Client in due time, change any one or more of these terms and conditions.