Terms & Conditions

Terms of Website Use and Supply of Service
These Website Terms and Conditions are issued by TSL Research Group Limited ( "TSL Research Group" or "we"). We are registered in England and Wales under company number 05761153 and have our registered office at Pellipar House. 9 Cloak Lane, London, EC4R 2RU. These Website Terms and Conditions apply to the entire contents of the websites resolving from the domain name www.tslombard.com (the "Website") and to any correspondence by e-mail between TSL Research Group and you. By accessing the Website you are deemed to have agreed to be bound by these Website Terms and Conditions together with our Privacy Policy, as may be updated from time to time and published on the Website.

Privacy Policy

Disclaimer of Liability for Content
The Website is provided by TSL Research Group for your information only. Your use of the Website is entirely at your own risk. While TSL Research Group will make every endeavour to ensure that the content, material and information on the Website including, but not limited to, any documents available to download (together, the "Website Content") is accurate, such Website Content does not constitute an investment recommendation or investment advice and TSL Research Group makes no representations and does not warrant to you that such Website Content is accurate, complete or up to date.

TSL Research Group is not authorised or regulated by the UK Financial Conduct Authority or any other regulators for the provision of investment advice. Our subsidiary Lombard Street Research Financial Services Limited is regulated by the UK Financial Conduct Authority. Our subsidiary TS Lombard (Asia) Limited is regulated by the Hong Kong Securities And Futures Commission.

The Website Content makes no recommendation or suggestion as to an investment strategy, explicitly or implicitly, concerning financial instruments or the issuers of financial instruments. The Website Content includes summary profiles of companies relevant to our research and the information is offered for reference purposes only.

The Website Content does not constitute an offer to sell, or the solicitation of an offer to buy or subscribe for, shares in any investment opportunities the reader may identify in the Website Content.

Specific professional financial and investment advice should be sought from your stockbroker, bank manager, solicitor, accountant or other independent professional adviser authorised pursuant to the Financial Services and Markets Act 2000 if you are resident in the United Kingdom or, if not, another appropriately qualified independent financial adviser, who specialises in advising on the acquisition of shares and other securities before any investment is undertaken.

TSL Research Group does not control any websites operated by third parties to which the Website may link. TSL Research Group does not accept any responsibility whatsoever for the activities or operations of those websites or the content or the service they provide.

To the maximum extent permitted by the law (and except in respect of death or personal injury arising out of the negligence of TSL Research Group) TSL Research Group does not accept any liability for:

• any inaccuracies or omissions (other than for fraudulent misrepresentation) in the Website Content; or
• any loss, damage, cost or expense of any kind incurred by you arising in connection with your access to, use of, or inability to use, the Website or the Website Content.

By using the Website, you release TSL Research Group from all such liability.

Owing to the nature of the internet and the fact that your access to the Website involves functionality outside TSL Research Group’s control, TSL Research Group is not responsible for technical problems that you may experience with the Website. TSL Research Group reserves the right to withdraw your access to or amend your use of the Website.

Use of the Website
These Website Terms and Conditions tell you the terms of use on which you may make use of the Website, whether as a visitor, a Client (as defined below) or a Registered User (as defined below) (collectively "you") and the terms and conditions on which we supply the service provided to, or accessible by, you (collectively the "Service").

The Website is segregated into areas for separate subscriber research topics (the "Research Topics").

Persons (legal or individual) who sign a services agreement with TSL Research Group for provision of either the Research Services or the Premium Services (as defined thereunder) (the "Client") and their nominated Registered Users will be given permission to access restricted areas of the Website for the purposes of viewing one or more Research Topics. The Client (and its Registered Users) will receive information specific to the Research Topics under the terms of its service agreement with TSL Research Group.

Clients and Registered Users will be issued with a user identification code which is to be treated as confidential. TSL Research Group has the right to disable user identification codes following a breach of these Website Terms and Conditions or any relevant service agreement. You must notify us immediately if you suspect or know of any theft, disclosure or unauthorised use of any user identification code or other piece of information forming part of our security procedures by e-mailing us at sales@tslombard.com.

You are responsible for making all arrangements necessary for you to have access to the internet. If you are a Client, you may request that other persons in your organisation, be registered to use the Service and access the restricted areas of the Website. Following acceptance by us of such a request, each such person (a "Registered User") will be deemed to have accepted and be bound by these Website Terms and Conditions and Privacy Policy.

Following a breach of these Website Terms and Conditions or the Privacy Policy, TSL Research Group will have the right, without providing notice, a refund or compensation to terminate a Client's or Registered User's use of the Service. Clients and Registered Users are not permitted to register to an e-mail address which is received by one or more persons nor may they forward on a regular basis the Website Content throughout a group of users. Only Registered Users are permitted to store the Website Content in physical form or in an electronic drive provided such electronic storage is on one central processing unit and is not accessible from a multi-user network.

You may wish to subscribe to the Research Service or Premium Service (as defined under our standard services agreement) or, as applicable, upgrade the service currently provided to you under your services agreement with us. We may offer you a free trial when considering whether you wish to subscribe to either the Research Service or Premium Service. The free trial will only be available to either a single user or a group of users identified by you to us. You will be notified of free trial periods in advance. We will issue, or you may choose, a user name and password on registration of the free trial (together “User Identification”). Unless otherwise agreed in writing by us, User Identification may (and you acknowledge and accept that it shall) only be used on a maximum of two PCs or terminals controlled by you. User Identification may not be used outside of the user group identified by you. In the event of a breach by you of these terms, were reserve the right to, in our sole discretion, suspend or if necessary terminate your User Identification and access to the Website after first attempting to contact you to discuss the breach.

Intellectual Property Rights
All Intellectual Property Rights (as defined below) contained in the Website and the Website Content are owned by or licensed to TSL Research Group. No Intellectual Property Right contained in the Website or the Website Content is intended to, and shall not be deemed to, transfer to any person who accesses the Website. For the purposes of this paragraph, "Intellectual Property Rights" means all patents, rights to inventions, utility models, copyright and related rights, trade marks, service marks, trade, business and domain names, rights in trade dress or get-up, rights in goodwill or to prevent passing off, unfair competition rights, rights in designs, rights in computer software, database right, topography rights, moral rights, rights in confidential information (including know-how and trade secrets) and any other intellectual property rights, in each case whether registered or unregistered and including all applications for and renewals or extensions of such rights, and all similar or equivalent rights or forms of protection in any part of the world, whether existing now or in the future.

TSL Research Group’s status (and that of any identified contributors) as the authors of the Website Content must always be acknowledged.

Linking to Website
The Customer may link to the Website home page, provided it is done in a way that is legal and does not damage TSL Research Group’s reputation or creates an impression of an association between TSL Research Group and Customer.

TSL Research Group reserves the right to withdraw linking permission without notice.

Social Media Disclaimer
Opinions, statements, estimates and projections in this message or other media are solely those of the individual author(s). They do not necessarily reflect the opinions of TSL Research Group Ltd. ("TSL"). TSL has no obligation to update, modify or amend this message or other media, or to otherwise notify a recipient thereof, in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. 

Any content, information and any materials provided in this message or other media is on an “as is” basis. TSL makes no warranty, expressed or implied, as to its accuracy, completeness or timeliness, or as to the results to be obtained by recipients, and shall not in any way be liable to any recipient for any inaccuracies, errors or omissions herein. Without limiting the foregoing, TSL shall have no liability whatsoever to a recipient of any message or media, whether in contract, in tort (including negligence), under a warranty, under statute or otherwise, in respect of any loss or damage suffered by such recipient as a result of or in connection with any actions, opinions, recommendations, forecasts, judgments, or any other conclusions, or any course of action determined, by it or any third party, whether or not based on the content, information or materials contained herein. 

The inclusion of a link to an external website by TSL should not be understood to be an endorsement of that website or the site's owners (or their products/services). TSL is not responsible for either the content or output of external websites. 

Copyright © 2017, TSL Research Group Ltd. All rights reserved. www.tslombard.com

Communication with You
When using the Website, the Customer accepts that communication with TSL Research Group will be mainly electronic. TSL Research Group may contact the Customer by e-mail or provide it with information by posting notices on the Website. The Customer acknowledges that all contracts, notices, information and other communications provided electronically comply with any legal requirement that such communications be in writing. This condition does not affect the Customer's statutory rights.

Information About You
We process information about you in accordance with our Privacy Policy. By using the Website the visitors, Clients and Registered Users consent to such processing and warrant that all data provided is accurate.

Invalidity and Severability
The invalidity or unenforceability of any provision (in whole or part) of these Website Terms and Conditions shall not affect the validity or enforceability of the remaining provisions (in whole or part) of these Website Terms and Conditions. The whole or part of any provision which is held by a court of competent jurisdiction to be invalid or unenforceable shall be deemed deleted from these Website Terms and Conditions.

Third Party Rights
A person who is not a party to these Website Terms and Conditions shall have no right under the UK legislation, The Contracts (Rights of Third Parties) Act 1999 to enforce any provision of these Website Terms and Conditions but this shall not affect any right or remedy of a third party which exists or is available apart from that Act.

International Use
TSL Research Group makes no representations that the Website Content is appropriate or available for use in locations outside the United Kingdom and accessing the Website from territories where the Website Content is illegal or unlawful is prohibited. If you choose to access the Website from locations outside the United Kingdom where this is the case, you do so on your own initiative and are responsible for compliance with local laws.

Matters Beyond Our Control
TSL Research Group shall not be held liable for any breach of these Website Terms and Conditions caused by circumstances out of TSL Research Group’s control, including acts of God, fire, lightning, flood or extremely severe weather, explosion, war, disorder, industrial disputes (whether or not involving our employees) network failures, or acts of local or central Government or other competent authorities.

Indemnity
You agree to indemnify and keep TSL Research Group indemnified against all actions, claims, proceedings, costs, damages and expenses (including, without limitation, legal fees) arising out of your use of the Website and/or the Website Content.

Governing Law and Jurisdiction
Your use of the Website is governed in accordance with the laws of England and Wales to the non-exclusive jurisdiction of whose courts you are deemed to have submitted.

Contact Details
If you require further information about TSL Research Group, our group companies, or the Website Content, please contact us at sales@tslombard.com.

These Terms and Conditions are valid as of 11th August 2017.