TERMS OF BUSINESS STATEMENT
These Terms of Business set out the basis upon which Metis Ireland Financial Planning Ltd t/a Metis Ireland will provide Financial Advisory services to you. They also contain details of our regulatory and statutory obligations and the respective duties of both our ﬁrm and you in relation to such services. This is an important document – please read carefully and if you have any questions please contact us. If there are any material changes to the information in this document you will be issued with a revised copy as soon as possible.
Metis Ireland (C65237) is regulated by the Central Bank of Ireland as an Investment Intermediary and Deposit Broker under the Investment Intermediaries Act 1995 (as amended) and as an Insurance Intermediary under the European Communities (Insurance Mediation) Regulations 2005. Copies of our statements of Authorised Status from the Central Bank of Ireland are available on request. Alternatively the Central Bank of Ireland holds registers of regulated ﬁrms which can be viewed on their website www.centralbank.ie
Metis Ireland is subject to and complies with the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards. These Codes offer protection to consumers and can be found on the Central Bank of Ireland website www.centralbank.ie
Financial Services: Life Assurance, Deposits, Pensions & Retirement Planning, Investments.
We offer advice on a fair analysis basis in relation to all Financial Services products and services. Fair analysis of the market means providing services on the basis of a sufﬁciently large number of contracts or investment products and product producers available on the market to enable us to make a recommendation, in accordance with professional criteria, regarding which contract or investment product would be adequate to meet your needs and requirements.
We offer our clients an extensive choice of suitable products that best serve their needs and circumstances. On receipt of your instructions we will transmit orders on your behalf to one or more Insurers/Product Producers with whom we hold a written appointment (a list of which is available on request).
We do not have any ‘tied’ relationships with any institution that would compromise our ability to offer you impartial advice and choice. We do not guarantee nor make representations in regard to, and expressly disclaim responsibility for the ﬁnancial security of the Insurance Companies and Product Producers with which we place business.
Complex Investments Instruments (MiFID) & Ongoing Suitability Assessment:
Ongoing suitability assessments will form part of the service to clients whose investments come under the remit of the MiFID Regulations 2017. Where your investment falls under these regulations we will provide you on an annual basis with a client report outlining any changes in the services or instruments involved &/or the circumstances of you, our client.
Remuneration Financial Services
We will be remunerated for business services we offer you our client in a number of ways:
- By commission earned from Insurers and Product Producers to whom orders are transmitted, details of these payments will be included in a product information document.
- By you directly in the form of a fee which we will discuss and agree in advance of all transactions; See our Professional Fees Table which is enclosed with our New Business
- You also have the option to pay for the services we provide by way of a combination of commissions and fees which we will discuss and agree in advance of all transactions
Handling Clients’ Money
We will accept payments in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act, 1995 (as amended). The Company is not authorised to accept negotiable instruments in any other circumstances.
Our ﬁrm will issue a receipt for each negotiable or non-negotiable instrument or payment received pursuant to Section 30 of the Investment Intermediaries Act 1995 (as amended).
Conﬂicts of interest
It is the policy of our ﬁrm to avoid conflicts of interest in providing services to you. However, where an unavoidable conflict of interest arises we will advise you of this in writing before providing you with any service.
Disclosure of Information
It is your responsibility to provide complete and accurate information for Insurers/Product Producers when arranging a policy. Failure to disclose any material information to your Insurers/Product Producer may invalidate your cover and could mean that all or part of a claim will not be paid.
Default on payments by clients
Our ﬁrm will exercise its legal rights to receive payments due to it from clients for services provided.
Insurers/Product Producers may withdraw beneﬁts or cover in the event of default on payments due under policies of insurance arranged for you. We would refer you to policy documents or product terms for the details of such provisions.
You, the customer can cancel your policy at any time by giving notice in writing subject to the terms and conditions of the applicable policy.
We ask that you make any complaint against our ﬁrm, relating to services provided by us, preferably in writing however, verbal complaints will also be accepted. We will acknowledge your complaint within 5 business days and we will fully investigate it. A written update will be issued to you every 20 days by a nominated individual within our ﬁrm. A comprehensive response to your complaint will be issued within 8 weeks of receipt of your initial complaint. You are entitled to refer the matter to the Ofﬁce of the Financial Services & Pensions Ombudsman (01-5677000 or firstname.lastname@example.org). A full copy of our complaints procedure is available on request.
Investor Compensation Scheme
We are members of the Investor Compensation Scheme established under section 30 of the Investor Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as deﬁned in the Act) to the extent of 90% of an investor’s net loss or €20,000, whichever is the lesser, and is recognised as being eligible for compensation. Further details are available on request.
Brokers Ireland Compensation Scheme
We are a member of Brokers Ireland and of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme the liabilities of its members ﬁrms up to a maximum of €100,000 per client (or €250,000 in aggregate) may be discharged by the fund on its behalf if the member ﬁrm is unable to do so, where the above detailed Investor Compensation Scheme has failed to adequately compensate any client of the member. Further details are available on request.
Governing Law and Language
The laws of Ireland form the basis for establishing relations between you and our ﬁrm. All contracts, terms, conditions and communications relating to any policies you may enter into with this ﬁrm will be in English.
Anti – Money Laundering/ Countering the Financing of Terrorism
Our ﬁrm reserves the right to request any facts about a client which it reasonably believes it needs to know in order to comply with the prevailing Criminal Justice (Money Laundering and Terrorist Financing) legislation.
Metis Ireland complies with the Data Protection Acts 1988 and 2003. We collect your personal details in order to provide the highest standard of service to you. We take great care with the information provided; taking steps to keep it secure and to ensure it is used only for legitimate purposes. The data which you provide to us will be held on a computer database and paper ﬁles for the purpose of arranging transactions on your behalf. We may receive referrals from Associated Companies and may advise them of any transactions arranged for you.
You have the right at any time to request a copy of any “personal data” within the meaning of the Data Protection Act 1988 and 2003 that our ofﬁce holds about you and to have any inaccuracies in that information corrected. Any requests should be forwarded to the Compliance Ofﬁcer.
We would like to keep you informed of various Pension, Insurance, Investment and any other services provided by us and which we think may be of interest to you. If you do wish to receive such marketing information you can opt in in the client declaration once you formally become a client of the ﬁrm.
These Terms of Business are valid from January 2018 until further notice.
Version 8: February 2018
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