eServices regulations

These regulations set out the terms upon which Schroder & Co. Limited trading as Cazenove Capital Management (hereinafter referred to as “CCM”) provides the Client or an Authorised Party with access to eServices. You are strongly recommended to read them. If you do not understand any point please ask for further information.

eServices and changes in eServices

The eServices provided by CCM allow (i) access to valuations, deposit account and account movements, information about transactions as well as other information on a Client’s Account and/or Portfolio (eReports); (ii) access to the Client’s eLibrary, which includes copies of the Reporting Pack and transaction advices and other information CCM has sent to the Client or which CCM agrees to make available; (iii) allow eMessages to be sent and received; (iv) the storage of transaction records; and (v) the creation of eDocs. In essence, eServices is an electronic information system and convenient means for non-time critical communications.

CCM is entitled to amend or limit the range of services offered at any time without prior notice. The range of services offered by CCM is aimed at Clients or Authorised Parties (each hereinafter referred to as the “User”).

Local access restrictions

CCM’s eServices should not be accessed in countries where online access to the corresponding range of services is prohibited under local law. CCM does not authorise usage in the following non-exhaustive list of countries in particular: Burma/Myanmar, Iran, North Korea and United States of America. Other countries may also impose restrictions, and it is up to the User to check whether any local law restrictions apply beforehand.

Access to eServices

Access to eServices is provided to a person who has identified him/herself to us by successfully providing their Security Details. Access to eServices is granted on an individual basis. This means each User will need to have his/her own Security Details.

CCM may change the access requirements for eServices at any time it deems appropriate.

In order to protect the User, CCM may, at any time and without providing any reasons, ask for additional verification of identity, including arranging a meeting with CCM. Until such time as CCM is satisfied as to the User’s identity CCM may block access to the eServices.

Blocking access to eServices

The Client can block its own access and access of an Authorised Party whereas an Authorised Party may only block its own access to CCM’s eServices. Requests to block access may only be made during Business Hours by contacting CCM and must be immediately confirmed in writing to CCM afterwards.

CCM is entitled to block the access of a User to one or all of the eServices at any time, without giving any reasons or notice (i) to protect the User; (ii) until such time as the User has provided satisfactory evidence as to his/her identity, as contemplated above; (iii) for objective reasons, such as, but not limited to, maintenance work; or if eServices have not been used for a long period.

eReports

eReports provides the User with access to Account and/or Portfolio information at the close of business on the previous Business Day. CCM does not guarantee or warrant the accuracy or completeness of any information or data provided about any Account or Portfolio as part of the eReports. Prices, performance and valuation data are subject to review and may change as part of internal checks performed during CCM’s statement production process. Prices shown may not reflect the actual realisable values of investments held in a Portfolio. Interest rates and foreign exchange rates shown in eReports may not reflect CCM’s current rates and are subject to change in accordance with the Terms.

eLibrary

The eLibrary allows a User to access copies of the Reporting Packs, transaction advices and other information which CCM agrees to provide or make available under its agreement with the Client.

eMessages

Amongst the services provided by CCM to the User is a mailbox in which eMessages and eDocs can be received from CCM and sent to CCM. These eMessages are encrypted, but you should be aware of the security and operational risks detailed below. A User will only be able to access such eMessages after providing CCM with their Security Details.

The User acknowledges and accepts that eMessage communications are not secure or reliable and that, if the User chooses to communicate with CCM in this manner, or requests CCM to communicate in this manner there is a risk of technical malfunction, unauthorised interference, failed delivery or delay and computer viruses. The User accepts that eMessages may not be read or actioned in a timely manner and that any time critical communications must be followed up by a telephone call to CCM.

eMessage communications from a User to CCM will be deemed received by CCM when accessed by CCM during Business Hours on a Business Day.

CCM automatically deletes eMessages that have been read after two years without prior notice. It is entitled to delete messages from the mailbox of a User earlier if the maximum storage space per User has been exceeded. Early deletion also takes place if the Account and/or Portfolio is closed or the agreement relating to eServices is terminated. It is the responsibility of the User to retrieve the messages earlier if required and to back them up.

eDocs

The User can create eDocs in accordance with his/her needs. eDocs created in this way are stored for two years within the eServices system and then are automatically deleted.

Security and operational risks

Despite the multilevel self-identification procedure, use of eServices is not absolutely secure and various parts of the system are beyond the control of CCM, for example, the computer used by the User and the public networks. It is solely the responsibility of the User to ensure that they are protected from the risks of accessing the eServices from their own or a public network and CCM accepts no liability for any loss or damage resulting from the same, including but not limited to viruses, network interruptions or unauthorised access by third parties.

The User should reduce the security risks associated with use of eServices wherever possible by taking suitable protective measures. In particular, the User should:

  1. keep the operating system and the browser up-to-date;
  2. install security patches made available and recommended by each provider;
  3. take security precautions for public networks, such as installation of a firewall or deployment of anti-virus programs that are continually updated; and
  4. take any necessary precautions in order to backup any data stored on his/her computer or other electronic data processing system.

If a User loses the eServices token , he/she must immediately report the loss to CCM in order to block access to the eServices. The User can order a replacement token by contacting CCM. A replacement token for an Authorised Party must be ordered by the Client.

Responsibility of the User and CCM’s liability

In order to protect Accounts and Portfolios against misuse and (where applicable) prevent unauthorised access to Online Services, each User must:

  1. keep his/her PIN and any other Security Details secret;
  2. not disclose his/her Security Details to any other person or record Security Details in any way that may result in them becoming known to another person;
  3. not send Security Details to CCM by email. The User should not respond to emails or eMessages asking for Account information or Security Details, as CCM will not ask for such details by email or eMessage;
  4. tell CCM immediately if he/she thinks someone else may know any of his/her Security Details or suspects unauthorised use of the Account or eServices by telephoning their usual contact at CCM;
  5. act with reasonable care, including taking reasonable steps to prevent unauthorised use of his/her Security Details; and
  6. not act fraudulently.

 

Each User who obtains access to eServices with his/her Security Details is considered to be in possession of the rights of access vis-à-vis CCM. CCM is authorised to grant a User who has proven his/her identity in this way unrestricted access to the information available via eServices.

The User bears the risks deriving from (1) manipulations of his/her computer or other electronic data processing system by unauthorised persons; (2) misuse of his/her Security Details; (3) their own or their Authorised Party’s breaches of contractual or statutory duties of care; (4) intrusions by unauthorised persons in the transmission of data or other technical or operational issues affecting the internet; (5) any other security or operational risk described above unless caused by CCM’s negligence, fraud or wilful default.

The User bears the risk of unauthorised access to eServices up to the point in time that an application to block access takes effect.

CCM will accept no liability for any:

  1. inaccuracy or incompleteness of any information or data provided about any Account or Portfolio in eReports;
  2. loss or damage to the computer or other electronic data processing system of the User or a third party caused by transmission errors, input errors, mistakes, technical faults, computer viruses and disruptions, business interruptions or illegal intrusions;
  3. loss incurred by the Client due to the use of eServices by an Authorised Party and the Client shall hold CCM harmless for any damage incurred by CCM due to the failure of an Authorised Party to abide by its duty of care when using eServices;(iv) loss or damage as a result of an unauthorised person accessing eServices where such person has identified themselves to CCM as a User; or
  4. detriment caused to the User deriving from the deletion of eMessages from his/her mailbox or the deletion of eDocs.

 

The User acknowledges that he/she should export any data to their computer or other electronic data processing system should they require these for longer than two years.

Authority for others to act

Where a Client requests an Authorised Party to be given access to eServices, CCM will first require the Client and the Authorised Party to complete certain documentation to CCM’s satisfaction.

An Authorised Party’s authorisation will remain valid until it is expressly revoked in writing by the Client or his/her legal successor. It does not automatically become invalid, for example in the event of the Client’s death, incapacity to act or bankruptcy or by cancelling the signing authority or deleting the Authorised Party from a register of authorised signatories.

The revocation of a power of attorney or other authorisation to manage assets or receive information from CCM does not automatically lead to the cancellation of an authorisation to use eServices. Where the Client no longer wants an Authorised Party to have access to the eServices, the Client must notify CCM of this in writing.

Client confidentiality and data protection

CCM will act as data controller within the meaning of the Data Protection Act 1998 (the Data Protection Act). The Client and Authorised Party hereby consent to the use of his/her Personal Data by CCM and on its behalf

  1. for the purposes of providing services to the Client or the Authorised Party (including without limitation services provided under the Terms) and for CCM’s own administrative, record-keeping and compliance procedures;
  2. to respond to requests for information from the Client or the Authorised Party and to follow up afterwards to see if it can provide any further assistance;
  3. for statistical purposes and for market research and product analysis, and to develop and improve products and services;
  4. to enforce or apply these regulations or the agreement between the CCM and the Client and/or other agreements, and/or to protect CCM’s (or others’) property or rights, and to defend any potential claim;
  5. for the purposes of preventing and detecting money-laundering, terrorism, fraud or other crimes and/or abuses of CCM’s services; and
  6. to comply with any legal, regulatory or good practice requirement whether originating from the UK or elsewhere (including, but not limited to, the US), and to fulfil CCM’s obligations under any reporting agreement entered into with any tax authority or revenue service(s) from time to time.

 

The User understands and agrees that his/her Personal Data will be transferred to Switzerland, and may also be transferred to other countries outside the EEA, which may not provide the same level of protection for Personal Data, for the purposes set out above.

CCM may retain Personal Data for such period as it considers necessary for the purposes set out above. Under the Data Protection Act, the User has the right to access the Personal Data CCM holds about him/her (and to certain information about that data), subject to certain conditions and limitations set out in the Data Protection Act. If the User wishes to exercise those rights please contact CCM.

Modifications to the contract

CCM can amend these regulations at any time. Users will be notified appropriately. In the absence of any objection by the User, any amendments will be regarded as having taking effect one month after notification, or if earlier the next time a User logs into eServices.

Termination

eServices are an additional facility which CCM may make available. CCM may terminate or suspend the provision of eServices to any User on notice at any time. This will not affect the agreement between the Client and CCM. CCM is not liable to the User for any failure to provide eServices.

Each User can terminate their access to eServices at any time by written notice to CCM. The Client can also terminate access of an Authorised Party to eServices on written notice to CCM. On termination of access to eServices, each User must promptly return any security token CCM has provided.

Other terms

These eServices Regulations together with the application forms are an integral part of the agreement to use eServices. For the Client, they are supplemental to the Terms.

Severability

Each term and provision of these regulations is severable and if at any time any term or provision becomes invalid, illegal or unenforceable, then this will not affect any of the other terms or provisions which shall remain in full force and effect.

Language

English will be the official language for all communications between CCM and the User, although CCM may also communicate with the User in other languages. All communications from CCM to the User, and the terms on which the eServices are provided will be in English.

Applicable law and place of jurisdiction

These regulations and all use of the eServices will be governed by and construed in accordance with English law. The English courts will have exclusive jurisdiction to settle any disputes or claims which may arise out of or in connection with the Agreement or the use of eServices for which purpose all parties agree to submit to such jurisdiction.

Definitions

Account

any or all accounts held with CCM by the Client or to the Client’s order used to hold cash.

Associate

an undertaking in the Schroder Group or a person whose relationship with the Schroder Group might reasonably be expected to give rise to a conflict of interest in dealings with third parties.

Authorised Party

a person authorised by the Client to access eServices.

Business Day

any day, other than a Saturday, Sunday or public holiday in England.

Business Hours

the hours between 09:00 to 17:00 on any Business Day.

Client

means a person to whom CCM provides investment, banking and/or custody services.

Personal Data

shall have the meaning given to it in the Data Protection Act, and for the avoidance of doubt, shall include sensitive personal data as also defined by the Data Protection Act.

Portfolio

a portfolio of assets (including cash) entrusted from time to time by the Client to CCM or in respect of which CCM has agreed to provide services (including assets held in any ISA).

Reporting Pack

a consolidated reporting pack provided by CCM in relation to each Portfolio including transaction statements and Accounts information, and if relevant performance and comparison against any agreed performance benchmark.

Schroders Group

CCM, Schroders plc (CCM’s ultimate holding company) and any of CCM’s or its subsidiaries (as defined in sections 1159 and 1160 of the Companies Act 2006).

Security Details

the User’s PIN or any other personalised set of procedures agreed between CCM and a User in order to access eServices.

Terms

CCM’s standard terms of business as amended from time to time.