This Agreement sets out the terms upon which Stockcube Research Limited ("Stockcube") of Plaza 535, Kings Road, London SW10 OSZ, will permit the client (the "Client") to have access to, and use of, the research materials published on the restricted access pages of www.Fullermoney.com (the "Website") and any other Stockcube websites to which the Client is permitted, and email and hard copy distributions and provide the Client with such other related services as may from time to time be agreed.

 Application to receive access to the restricted access pages of the Website may only be made on the terms set out in this Agreement.
The Client will not be entitled to use such services until acceptance of this Agreement and receipt by the Client of a personal username and password.
 

1. Commencement

This Agreement comes into force as soon as it is received by the Client and shall apply in respect of all regulated activities carried on with or for the Client thereafter. By proceeding to the disclaimer page you are accepting these terms and conditions.

2. Regulation

Stockcube is authorized and regulated by the Financial Services Authority ("FSA").

3. Classification

Stockcube will treat the Client as either a private customer, an intermediate customer or a market counterpartya retail client, as defined by the FSA’s Conduct of Business Sourcebook. , according to the information disclosed when the Client registers for the services provided by Stockcube. If in any dealings Stockcube may have with the Client, the Client is acting as agent for any other person, Stockcube will treat the Client as its customer for the purposes of the FSA Rules, even where the principal has been identified to Stockcube. An identified principal will not be classified as Stockcube’s customer unless specifically agreed between the parties. The Client represents and warrants that it is acting as principal and not as agent or attorney for any other person. Stockcube shall not be bound to act in accordance with the instructions of any person other than the Client (but shall be entitled to act in accordance with all instructions given by the Client or purporting to be given by the Client) and Stockcube’s liabilities hereunder shall be fully discharged by Stockcube performing such in the Client’s favour. In the case of joint Clients we shall not be bound to act except in accordance with instructions given or purported to be given on behalf of each Client, or in the case of death, the survivors or sole survivor of such joint Clients.
In accordance with FSA rules, Stockcube Research may need to verify client’s identities. Clients may be requested to provide certified documents as evidence of identity and address. Alternatively, Stockcube Research may seek references from an other FSA regulated firm.

4. Service

Stockcube provides research services on all categories of investments, which may vary from time to time. This service does not include personal investment recommendations. Stockcube may, at its discretion, provide information, advice, recommendations and research to the Client from time to time on its own initiative or advise the Client of other services available. Stockcube will not be under any obligation to provide on-going advice in relation to the management of the client’s investments. This Agreement contains important information regarding the way in which Stockcube will provide access to its research materials. If you are in any doubt you should consult your independent financial adviser immediately.
 

5. Communications

Communications with Stockcube pursuant to this Agreement may be made by telephone 020 7352 4001, fax 020 7352 3185, e-mail or in writing to the address specified above or at such other address or fax number as notified by Stockcube to the Client from time to time. Stockcube will assume that any instructions received which have been authenticated by the Client’s username and password, are genuine, valid instructions from the Client to Stockcube and will act accordingly. All usernames and passwords must not be disclosed, nor be allowed to be disclosed, to third parties. The Client is strongly advised to change its password from time to time. The Client must contact Stockcube immediately if it suspects that its username or password has been disclosed to, or obtained by, a third party and that its integrity is threatened. Until such notification is received by Stockcube, Stockcube will assume that any instructions received in electronic form, or over the telephone, which have been authenticated by the Client’s Username and password, are genuine and valid instructions from the Client to Stockcube. Stockcube shall communicate with the Client, at the address last notified to Stockcube, by any of the above means unless it is required to communicate in writing either under this Agreement or in accordance with the rules of any regulatory authority.

6. Conflicts of Interests

The research provided by Stockcube on the Website (and any other Stockcube website) is provided solely to enable clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by Stockcube as to the merits or suitability of any investment decision or transaction which may result directly or indirectly from having viewed the investment research on the Website. Clients are therefore urged to seek independent financial advice if they are in any doubt. The value of investments and the income derived from them can go down as well as up, and the Client may not get back the full amount originally invested. Derivatives are particularly high risk, high reward investment instruments and an investor may lose some or all of his or her original investment. Also, if you decide to acquire any investment denominated in a different currency you should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in your own currency. When Stockcube, its Connected Companies (as defined in the FSA Rules) or any other person connected with Stockcube, provides investment advice services, it may from time to time have a material interest in the subject matter of the research , which may occur, for example, because Stockcube, a Connected Company or any other person connected with Stockcube, provides services to other customers who have interests in the same investments as those to which the research relates. In accordance with the rules of the FSA, employees and officers of Stockcube providing services to the Client under this Agreement are required to comply with an independence policy obliging them to disregard any material interest or conflict of interest, relationship or arrangement when making recommendations, except to the extent that the policy conflicts with any legal or regulatory obligations of Stockcube or its employee. From time to time Stockcube, a Connected Company and any other person connected with Stockcube may have positions in stock being recommended and may act upon, or otherwise use, any research recommendations available in the public domain, before they are published and obtainable by the Client or other customers of Stockcube.

7. Commissions and Charges

Details of all charges (and commissions) payable (by or) to Stockcube in connection with the information and services are available from the Website.
 
8. Cancellations and Refunds policy

Subscribers may cancel each service a any time within 14 days of the commencement of that service by giving notice to the Subscriptions Manager of Stockcube by fax or in writing. Stockcube will make a full refund of any subscription moneys received by Stockcube for that service. For this purpose, subscriptions commence on the date on which each service is first made available to the retail customer which may  e earlier than the date on which payment is first required.In all other circumstances cancellations in respect of paid for services within the first 60 days of an annual service will be refunded at 66% and no refunds will be made for the monthly services or after 60 days of the annual service.

9. Copyright and User Registration

Access to the restricted access pages of the Website is restricted to the Client personally and may not be shared with others. Whilst information extracted from the files on the Website may be used for personal research, any copying or distribution of such files in whole or in part is prohibited. Stockcube reserves the right to monitor all accounts to determine the number of files being accessed and the locations from which access is effected. It is expected that the Client will not access the Website from more than two different locations. Access from a greater number of different locations may give rise to enquiries by Stockcube and a review of the Client’s account. The research information compiled and published by Stockcube is the property of either Stockcube or its licensors and may not be used except as authorised by or pursuant to this Agreement.

10. Liability for Loss

Stockcube shall not be liable for any direct or indirect, incidental or consequential loss or damage (including loss of profits, revenue or goodwill) arising from the use, inability to use, interruption or non-availability of the Website or any part of the research materials published on the Website or otherwise any loss of data on transmission, howsoever caused. Whilst the research material published on the Website is believed to be reliable and accurate, it is not independently verified. Accordingly, no representation or warranty is made or given by Stockcube, its officers, agents or employees as to the accuracy or completeness of the same and no such person shall have liability for any inaccuracy in, or omission from, such materials, save, however, that there shall not be excluded any liability for direct loss, costs or expenses caused by the wilful default, negligence or fraud of Stockcube or its employees. This is without prejudice to any duty or liability Stockcube may have to the Client under the Financial Services and Markets Act 2000, and the FSA Rules. The installation and maintenance of all computer hardware, software and communications devices needed by the Client to access the restricted access pages of the Website are solely the Client’s responsibility.

11. Joint and Several Liability

If the Client is a partnership, or is otherwise comprised of several persons, the liability and obligations of each such person under this Agreement shall be joint and several. In the event of default due to non payment of fees this shall be deemed to have occurred in respect of all of such persons and Stockcube may exercise its rights set out in clause 15 without being required to give notice of such an event to any of the persons.

12. Disclosure of Information

Whilst Stockcube will at all times protect the Client’s confidentiality, it may be obliged to disclose any information concerning the Client, its business or any transactions or investments which have been obtained in the course of the Client’s business relationship with Stockcube, when required or requested to do so under any relevant law or by any regulatory or governmental authority or by officials of exchanges or clearing houses. The Client irrevocably authorises Stockcube to make the disclosure of such information accordingly and without reference to the Client. The Client also hereby authorises the disclosure of such information to Connected Companies of Stockcube.
 

13. Amendment, Variation and Assignment

Stockcube reserves the right to vary any of the terms of this Agreement either by written notice to the Client or by notice published on the Website describing the relevant changes. The variation shall take effect upon receipt by the Client of notice in writing or in the case of notification through the Website, on the first occasion thereafter upon which any attempt is made by the Client to access the research on the restricted access pages of the Website. Stockcube may assign all or any of its rights and obligations under this Agreement to another appropriately authorised member of the Stockcube Group or any of their successors. This Agreement is personal to the subscriber, and the Client’s rights and obligations under this Agreement and any transactions entered into pursuant hereto, are not capable of assignment to a third party.

14. Authority, Consents, Compliances etc.

The Client warrants and represents to Stockcube, if a natural person, that it is over the age of eighteen years. If a body corporate, partnership, unincorporated body or pension fund it warrants that it is by its memorandum and articles of association, deed of partnership, trust deed or other constitutional document, as the case may be, empowered (and has taken all necessary steps and obtained all licences, permissions, consents and approvals) to enter into this Agreement with Stockcube.

15. Foreign Laws

Access to the Website is not open to persons resident in, or citizens of any territory outside the United Kingdom where, to allow such access, would require any registration, filing, application for any licence or approval or other steps to be taken by Stockcube in order to comply with local laws or other regulatory requirements in such overseas territory. It is the Client’s responsibility to be informed about applicable legal or other regulatory requirements in the territory in which the Client is resident or of which the Client is a citizen. By acceptance of this Agreement the Client represents and warrants that neither allowing the Client access to the Website nor the acceptance of this Agreement by the Client will infringe the laws or other regulatory requirements or impose upon Stockcube any obligations or duty which has not been performed, fulfilled or satisfied under the laws of any territory outside the United Kingdom in which the Client is so resident or of which the Client is a citizen. If the Client is in any doubt about its status or compliance with the laws and regulations of any applicable territory, it is recommended to the Client to take appropriate professional advice without delay.

16. Termination

This Agreement may be terminated by either party at any time, by giving written notice to the other in accordance with the terms of this Agreement. This shall be subject to any outstanding commissions or fees accruing to Stockcube (including any additional expenses incurred in connection with such termination) being paid. Stockcube will be entitled to terminate this Agreement if at any time the Client fails to make payment of any fees due and payable to Stockcube. Stockcube may terminate this Agreement without notice and with immediate effect on the terms referred to in the preceding paragraph, in the event that the Client shall at any time do anything to jeopardise the proper and efficient running of the Website or make or permit any unauthorised access to such Website. In the event of termination the Client will not be entitled to a refund of any subscription charges. Termination of this Agreement will not affect any outstanding order or transaction or any legal rights or obligations which may have already arisen and this Agreement shall continue to apply in respect thereto. Termination shall be without effect in relation to any warranties and representations made by the Client under this Agreement.
 

17. Further provisions

(a) Entire Agreement
This Agreement and the Disclaimer document embody and set forth the entire Agreement and understanding between Stockcube and the Client with respect to the services to be provided herein. This Agreement supersedes all prior oral and written agreements, terms, understandings or arrangements relating to its subject matter.
(b) Illegality
If at any time any of the provisions set out in this Agreement (in whole or in part) is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction (including the FSA Rules and the rules and regulations of any regulatory authority) neither the legality, validity or enforceability of the remainder of such clause or the remaining clauses of this Agreement nor the legality, validity or enforceability of such clause under the law of any other jurisdiction, shall in any way be affected or impaired.
(c) Complaints
If the Client has any complaint about Stockcube’s services under this Agreement, the Client should write to Tim ParkerMark Glowrey at the address specified above, who will be responsible for ensuring that any complaints are investigated and resolved. The Client may also complain directly to the Financial Ombudsman Service.
(d) Rights and Remedies
No failure or delay by Stockcube to exercise, in whole or in part, any rights under this Agreement or under any transaction shall constitute or be deemed to constitute a waiver of those rights upon that or any subsequent occasion. The rights and remedies herein are cumulative and not exclusive of any rights or remedies provided by law. No failure to exercise or delay in exercising the same shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof.
(e) Binding
This Agreement is binding upon the Client and its successors in title.
(f) Fees and remuneration
Time shall be of the essence in relation to the payment of fees pursuant to this Agreement.
(g) Force Majeure
Stockcube shall not be in breach of any of the provisions of this Agreement or held liable or responsible for total or partial failure of performance of its duties and obligations occasioned by any event or circumstance whatsoever not reasonably within Stockcube’s control., including, without limitation, acts of God, fire, acts of government or state, any acts or regulations of any governmental or supranational bodies or authorities, strike, lock-out or other form of industrial action, war, civil commotion, insurrection, embargo, failure of any computer system, prevention from or hindrance in obtaining any raw materials, energy or other supplies, labour disputes of whatever nature or any other reason (whether or not similar in kind to any of the above), or acts of terrorism. Stockcube shall have no liability or responsibility for any loss or damage incurred or suffered by the Client in the event of any breakdown, failure or malfunction of any telecommunications or computer services or systems.

18. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of England and Wales. In relation to any dispute, the Client irrevocably agrees to submit to the non-exclusive jurisdiction of the English courts.
 

19. Financial Services Compensation Scheme

The Financial Services Compensation scheme exists for the purpose of compensating consumers when authorised firms are unable, or likely to be unable, to satisfy claims against them. Stockcube is protected by this scheme so provided that the claimant is eligible to claim, the activity giving rise to the loss is protected by the scheme and the claimant has assigned his rights to the scheme, the Client may be eligible for a payment of compensation.

20. Miscellaneous

References to a "person" include a reference to any person, firm, company, corporation, government, state or agency of a state or any association or partnership (whether or not having separate legal personality) or any one or more of the foregoing. "Business Day" means a day (other than Saturday or Sunday) on which bank premises are open for general business in London. "Connected Company" means (in relation to a body corporate):
(a) That body corporate’s holding company;
(b) A subsidiary of the body corporate;
(c) A subsidiary of the holding company of that body corporate.
 
 
Disclaimer

By logging in you agree to be bound by our standard Terms of Business. By means of your login to our service you are deemed to thereby accept our current Terms of Business including the notice below. If you do not wish to accept our current Terms of Business and the notice below, you should quit this website immediately.

Fullermoney is a division of Stockcube Research Limited ("Stockcube") which is authorized and regulated in the conduct of investment business in the United Kingdom by the Financial Services Authority. Our services are distributed by Stockcube and are provided for information purposes only. Under no circumstances is the research content of this website ("the Research") to be relied upon as constituting personal investment advice or construed as any offer to sell, or any solicitation of any offer to buy investments.

While all reasonable care has been taken to ensure that the research published by Stockcube is not untrue or misleading at the time of publication, neither Stockcube nor its officers or employees makes any representation or warranty as to the accuracy or completeness of such materials. No liability is accepted for any loss whether direct or indirect, incidental or consequential, arising out of any of the research not being true and accurate except to the extent caused by the wilful default or gross negligence of Stockcube or its employees or which arises under the United Kingdom Financial Services and Markets Act 2000.

All research on the Stockcube websites is believed to be up-to-date at the time it is posted, but is subject to variation without notice.
From time to time Stockcube and any of its officers or employees may, to the extent permitted by law, have a position or otherwise be interested in any transactions in investments (including derivatives) directly or indirectly the subject of our research. Also Stockcube may from time to time provide other services (including acting as adviser) to any company mentioned in our research.

The value of shares and other investments and the income derived from them may go down as well as up, and you may not get back the full amount you originally invested. Derivatives in particular are high risk investment instruments which carry a contingent liability, the value of which may be affected by a greater proportion than the change in the value of the underlying investment or asset. If you make an investment in securities that are denominated in a currency other than your own you are warned that changes in rates of foreign exchange may have an adverse effect on the value, price or income of the investment in your own currency. Any persons in doubt as to whether the investments referred to in our research material may be suitable for them, should consult an independent financial adviser.

The content of this website is protected by copyright and other intellectual property rights or similar rights, which unless indicated otherwise are the property of Stockcube. Except for permission to download a single copy for personal use, the research published by Stockcube may not be reproduced, distributed or published in whole or in part by any recipient for any purpose, without the prior express consent of Stockcube.
Neither Stockcube nor its employees officers or agents accepts any responsibility for the accuracy of any information contained within or otherwise the operation of any sites provided by third parties who at any time have links to or from Stockcube’s website pages. No liability is accepted for any loss, whether direct or indirect, incidental or consequential, arising from any visit or access to such third party site or the downloading from such site of any information, materials or software.

Whilst certain software may be made available to you from time to time at the Stockcube website, you are licensed to use such software on a non-exclusive basis only for the purposes specified. You are not permitted to use such software for any other purposes and may not redistribute, sell, decompile, reverse engineer, disassemble or otherwise deal with such software.

The "Fullermoney" and "Stockcube" names and other trade marks and logos appearing on the Stockcube website are, unless indicated otherwise, the trade marks of Stockcube. All intellectual property rights in and to the same site expressly reserved to Stockcube or (as the case may be) the organisation which has licensed Stockcube to reproduce the same and accordingly none of the trade marks may be reproduced by you without the express prior consent of Stockcube.

Stockcube may from time to time send you promotional and other information about its products or services. In addition, Stockcube may pass your name on to carefully selected third parties who may contact you with similar or related information. If you would rather not receive the above information either telephone Mark GlowreyTim Parker or email us.

Access to this website is not open to persons who are resident in or nationals of any territory outside the United Kingdom ("overseas persons") where to allow such access would require any registration, filing or other steps to be taken by Stockcube in order to comply with local laws or other regulatory requirements. It is the responsibility of overseas persons to ensure there will be no breach of any such laws or regulatory requirements by reason of their choosing to access and/or download information from this and other Stockcube websites. This website is hosted in the United Kingdom and compiled in order to comply with English law. All visits to this website are subject to and governed in accordance with English law.

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Forum Terms and Conditions
The following terms apply additionally to the use of the Forum.
Terms of use

Access to and use of this site ('The Forum') is provided by Stockcube Research Ltd (‘Stockcube’) subject to the following terms:
1.       By using The Forum you agree to be legally bound by these terms, which shall take effect immediately on your first use of The Forum. If you do not agree to be legally bound by all the following terms please do not access and/or use The Forum.
2.       Stockcube may change these terms at any time by posting changes online. Please review these terms regularly to ensure you are aware of any changes made by Stockcube. Your continued use of The Forum after changes are posted means you agree to be legally bound by these terms as updated and/or amended.
Use of The Forum
3.       You may not copy, reproduce, republish, download, post, broadcast, transmit or otherwise use The Forum content in any way except for your own personal, non-commercial use. You also agree not to adapt, alter or create a derivative work from any of The Forum content except for your own personal, non-commercial use. Any other use of The Forum content requires the prior written permission of Stockcube.
4.       You agree to use The Forum only for lawful purposes, and in a way that does not infringe the rights of, restrict or inhibit anyone else's use and enjoyment of The Forum. Prohibited behaviour includes harassing or causing distress or inconvenience to any person, transmitting obscene or offensive content or disrupting the normal flow of dialogue within The Forum.

Disclaimers and Limitation of Liability
5.       The Forum content, including the information, names, images, pictures, logos and icons regarding or relating to Stockcube, its products and services (or to third party products and services), is provided "AS IS" and on an "IS AVAILABLE" basis without any representations or any kind of warranty made (whether express or implied by law), including the implied warranties of satisfactory quality, fitness for a particular purpose, non-infringement, compatibility, security and accuracy.
6.       The Forum is merely a conduit through which the views and opinions of its users can be freely exchanged. You should not rely solely on any information you read in The Forum. You should seek independent professional advice before taking any action in relation to or dealing in any investments as a result of information you read in The Forum.
7.       Stockcube will not be liable for any damages, including indirect or consequential damages, or any damages arising from use or loss of use, data or profits, whether in contract, negligence or other tortious action, arising from or in connection with the use of The Forum.
8.       You agree to indemnify, defend, and hold harmless Stockcube, and its parent, affiliates, directors, officers and employees from and against any claim, liability, cost, damage or loss we may incur (including, without limitation, lawyers' fees) as a result of any material you post on The Forum or any violation by you of your obligations under these terms and conditions.
9.       Stockcube does not warrant that functions contained in The Forum content will be uninterrupted or error free, that defects will be corrected, or that The Forum or the server that makes it available are free of viruses or bugs.

Intellectual Property
10.   The names, images and logos identifying Stockcube or third parties and their products and services are subject to copyright, design rights and trade marks of Stockcube and/or third parties. Nothing contained in these terms shall be construed as conferring by implication, estoppel or otherwise any licence or right to use any trademark, patent, design right or copyright of Stockcube or any other third party.

Contributions to The Forum
11.   Where you submit any contribution to The Forum (including any text, photographs, graphics, video or audio) you agree, by submitting your contribution, to grant Stockcube a perpetual, royalty-free, non-exclusive, sub-licenseable right and license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform, play, and exercise all copyright and publicity rights with respect to your contribution worldwide and/or to incorporate your contribution in other works in any media now known or later developed for the full term of any rights that may exist in your contribution. If you do not want to grant to Stockcube the rights set out above, please do not submit your contribution to The Forum.
12.   Further to paragraph 9, by submitting your contribution to The Forum, you:
12.1 warrant that your contribution;

12.1.1 is your own original work and that you have the right to make it available to Stockcube for all the purposes specified above;

12.1.2 is not defamatory; and

12.1.3 does not infringe any law; and

12.2 without prejudice to the generality of clause 8, indemnify Stockcube against all legal fees, damages and other expenses that may be incurred by Stockcube as a result of your breach of the above warranty; and

12.3 waive any moral rights in your contribution for the purposes of its submission to and publication on The Forum and the purposes specified above.

The Forum Rules
13.   You agree to use The Forum in accordance with the following Rules.
About your posts:
·         Contributions must be civil and tasteful
·         No disruptive, offensive or abusive behaviour: contributions must be constructive and polite, not mean-spirited or contributed with the intention of causing trouble.
·         No unlawful or objectionable content: unlawful, harassing, defamatory, abusive, threatening, harmful, obscene, profane, sexually oriented, racially offensive or otherwise objectionable material is not acceptable.
·         If you use multiple logins for the purpose of disrupting The Forum or annoying other users you may have action taken against your account.
·         No spamming or off-topic material: we don’t allow the submission of the same or very similar contributions many times. Please don't re-submit your contribution to more than one discussion, or contribute off-topic material in subject-specific areas.
·         No advertising
·         Contributions containing languages other than English may be removed.
·         No impersonation
·         No inappropriate (e.g. vulgar, offensive etc) user names
·         You may not refer to specific URLs (web site addresses) where those linked sites would infringe any of the above conditions.
·         You must not intentionally violate the laws, rules and regulations of the Financial Services Authority and the national or other securities exchange.
Safety:

We advise that you never reveal any personal information about yourself or anyone else (for example: telephone number, home address or email address), and please do not include postal addresses of any kind.

About the law:
·         You may not submit any defamatory or illegal material of any nature in The Forum. This includes text, graphics, video, programs or audio.
·         Contributing material with the intention of committing or promoting an illegal act is strictly prohibited.
·         You agree to only submit materials which are your own original work. You must not violate, plagiarise, or infringe the rights of third parties including copyright, trade mark, trade secrets, privacy, publicity, personal or proprietary rights.
·         The views expressed in The Forum are those of members of The Forum and are not necessarily those of Stockcube.
If you breach these Terms of Use:
Stockcube does not routinely screen, edit, or review messages posted by its members. However, Stockcube does reserve the right to monitor any information transmitted or received through The Forum.

If you fail to abide by these Rules when taking part in The Forum, you will be sent an e-mail which informs you why your contribution has been failed or edited. This mail will also include a warning that continuing to break the rules may result in action being taken against you.

This action may include a temporary or permanent suspension of your ability to participate in The Forum.

If you post or send offensive or inappropriate content anywhere on or to The Forum or otherwise engage in any disruptive behaviour on The Forum, and Stockcube considers such behaviour to be serious and/or repeated, Stockcube may use whatever information that is available to it about you to stop any further such infringements. This may include temporarily or permanently blocking you from accessing The Forum.

Stockcube reserves the right to delete any contribution, or take action against any account, at any time, for any reason.

Problem Posts
14.   If you believe that your work has been copied in such a manner as to represent a copyright infringement or violation of your intellectual property rights or that you have been defamed by a post(s) in The Forum, please email us so that the situation can be addressed as quickly as possible.
General
15.   If any of these terms are determined to be illegal, invalid or otherwise unenforceable by reason of the laws of any state or country in which these terms are intended to be effective, then to the extent and within the jurisdiction in which that term is illegal, invalid or unenforceable, it shall be severed and deleted from these terms and the remaining terms shall survive, remain in full force and effect and continue to be binding and enforceable. In particular, nothing in these terms shall be taken to disapply any of the rules of the Financial Services Authority (FSA).
16.   These terms shall be governed by and interpreted in accordance with the laws of England and Wales.
(end)