Schedule: amended, on 7 March 2008, by clause 3(3) of the Securities Act (Amendments to Exemption Notices Affecting Investment Adviser Information) Exemption Notice 2008 (SR 2008/60).
Important Information for New Zealand Investors
(The information in this section is required under the Securities Act (Great Britain Collective Investment Schemes) Exemption Notice 2004.)
The document that this statement is contained in, or is accompanied by, is not an investment statement under New Zealand law. It is a [insert a generic description of the document] prepared in accordance with the law of England and Wales*/Scotland*. There are likely to be differences between the information provided and the way that information is presented in the [insert a generic description of the document] as compared to an investment statement under New Zealand law.
* Delete if inapplicable
Investment decisions are very important. They often have long-term consequences. Read all documents carefully. Ask questions. Seek advice before committing yourself.
Choosing an investment
When deciding whether to invest, consider carefully the answers to the following questions:
What sort of investment is this?
Who is involved in providing it for me?
How much do I pay?
What are the charges?
What returns will I get?
What are my risks?
Can the investment be altered?
How do I cash in my investment?
Who do I contact with enquiries about my investment?
Is there anyone to whom I can complain if I have problems with the investment?
What other information can I obtain about this investment?
Engaging an investment adviser
An investment adviser must give you a written statement that contains information about the adviser and his or her ability to give advice. You are strongly encouraged to read that document and consider the information in it when deciding whether or not to engage an adviser.
Tell the adviser what the purpose of your investment is. This is important because different investments are suitable for different purposes, and carry different levels of risk.
The written statement should contain important information about the adviser, including—
relevant experience and qualifications, and whether dispute resolution facilities are available to you; and
what types of investments the adviser gives advice about; and
whether the advice is limited to investments offered by 1 or more particular financial institutions; and
information that may be relevant to the adviser’s character, including certain criminal convictions, bankruptcy, any adverse findings by a court against the adviser in a professional capacity, and whether the adviser has been expelled from, or prohibited from joining, a professional body; and
any relationships likely to give rise to a conflict of interest.
The adviser must also tell you about fees and remuneration before giving you advice about an investment. The information about fees and remuneration must include—
An investment adviser commits an offence if he or she does not provide you with the information required.