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Financial Services Guide 1. Issue Date This Financial Services Guide (FSG) is dated 30 March 2007, and replaces all prior versions. 2. Purpose and Contents of this Financial Services Guide (FSG) This FSG is designed to provide you with important information regarding our services prior to providing you with a financial service, including the following:
If you would like further information, please ask us. 3. Name of Service Provider & Principal Contact The Service Provider is Market Informer Pty Ltd ABN 94 112 957 981, and Authorised Representative [No: 285997 of Sonray Capital Markets Pty Ltd ABN 18 104 482 993 (Sonray)], and the Principal Contact is Warren Lloyd, General Manager 4. Australian Financial Services Licence (AFSL) details & Financial Services provided Sonray holds an AFSL [Number 231151] and authorises Market Informer to provide the following services:
to retail and wholesale clients. 5. Contact details of Market Informer Market Informer Pty Ltd 6. What financial services are offered by Market Informer?
Market Informer specialises in the delivery of two products, a trading advisory newsletter and the offer of educational seminars. The objective of our product offering is to empower traders with a methodology which will enable them to become consistent long term investors within the financial markets. 7. Method of providing financial services If you wish to utilise our services you may issue us with instructions in any of the following ways: in person;
8. Nature of Advice Please note that whilst authorised to do so, Sonray does not provide personal advice. We are obliged to warn you that our general advice provided to you as a retail client does not take account of your objectives, financial situation or needs. Therefore, we recommend that you take all reasonable steps to fully understand the outcomes of specific products and strategies adopted in relation to utilising the services provided by Sonray. 9. Documentation Transaction Documentation: Sonray will provide clients with the relevant (client agreement, terms & conditions and confirmation) documentation to facilitate requested transactions. Factual information/Deal execution only: Sonray can provide you with factual information and research, and facilitate execution only requests. Product Disclosure Statements: If we make a recommendation for you to acquire a particular financial product or offer to provide or arrange for the provision of a particular financial product, you should also receive a Product Disclosure Statement which contains important information regarding the features, benefits, risks and fees applicable to investment in such product, and should be read carefully to enable you to make an informed decision about whether to acquire or utilise such products. 10. Managed Discretionary Account (MDA) In compliance with the applicable requirements of ASIC Policy Statement 179, we note that Sonray provides an MDA service which enables clients to delegate the investment management and trading discretion for exchange traded and over-the-counter securities and derivatives transactions, to Sonray. Clients must enter into a formal MDA Agreement prior to accessing this service. The MDA Agreement provides all relevant communication protocols, and includes an investment program detailing the following:
The risks for clients in utilising the MDA service are the same as those existent in non-discretionary dealings in exchange traded and over-the-counter securities and derivatives transactions. Such risks are detailed in the MDA Agreement and in our Product Disclosure Statements. All retail clients are required to obtain independent advice prior to entry into such an arrangement, to ensure it is appropriate for their personal financial needs, objectives and circumstances. 11. Professional Indemnity Insurance Pursuant to s912B of the Corporations Act (and Corporations Regulation 7.6.02AAA), we note that Sonray maintains adequate professional indemnity insurance to cover the financial services it provides. The policy maintained by Sonray provides coverage in the aggregate of up to $5,000,000 to cover claims regarding (i) professional indemnity; (ii) directors & officers liability; and/or (iii) crime (fraud), with an excess of $50,000 payable by Sonray per claim. Further information is available upon request. 12. Our record-keeping obligations Sonray will seek to ensure that comprehensive and accurate records of client profiles, together with all advice/recommendations provided, are properly maintained. 13. Who do we act for? Sonray is responsible for the financial services we provide to you under our Australian Financial Services Licence. Sonray is a market maker, not an agent, when dealing in Contracts For Difference and margin foreign exchange contracts, i.e. off-market Over-The-Counter (OTC) derivatives. Accordingly, Sonray acts as principal in all transactions with you in respect of these specific financial products. Sonray may also arrange for you to be supplied with financial services and products issued by non-related product providers. Sonray may receive a fee or commission payment from these non-related issuers as a result of you investing in one of their products or services. Any remuneration that Sonray may derive is included in the fees and commissions you pay as outlined under the heading “Information about remuneration” – you do not pay extra. Market Informer does not act as a representative of any other licensee in relation to the services or products we provide. 14. Remuneration/commission/benefits expected to be received by Market Informer for provision of financial services Market Informer and Sonray are remunerated through the fees and commissions that we charge you. With certain products, we are also directly remunerated by non-related product issuers through ongoing commissions. Market Informer may receive a financial benefit from referring you to a financial institution or broker. Fees and commissions charged to you will depend on the type of financial product being traded, the frequency of your trading activity, the type and level of service required and the size of the transaction. Rates are subject to negotiation by you with Sonray prior to transacting any business. Fees and commissions, once disclosed and agreed, will be charged to your trading account at the time your transaction is executed. For the Trading Advisory Newsletter, Market Informer charge a subscription fee between $93.50 and $104.50 per month (inclusive of GST) which enables you to have private web access to our trading advice recommendations and market updates. Market Informer charges fees for you to attend the educational seminars we offer. Depending on the nature of the seminar, such fees range between $1,000-$6,000 and will be disclosed with the specific offer. Market Informers DVD HomeStudy program retails for $1,095.00 (Inc GST) plus $35 postage and handling Market Informer sells eSignal products between USD$1000 and USD$6000 plus GST. Fees applicable to the MDA facility shall be disclosed in the MDA Agreement prior to establishment. The tables attached in the Annexure to this FSG, provide an indication of our standard commission rates (all quoted exclusive of any Goods and Services Tax plus transaction and exchange fees). These rates are subject to change from time to time. A detailed description of the fees, charges and commissions payable to Sonray for each of the financial products offered by Sonray can be found in the Product Disclosure Statement for the relevant financial product. Market Informer’s employees and directors may be remunerated by way of salary, commissions, bonus payments and other employee benefits. All remuneration paid by you to Sonray or to Market Informer (or their employees, directors and representatives) is included in the fees and commissions disclosed in the attached tables. Sonray is also entitled to retain any interest it earns on client money held in the segregated accounts it must maintain pursuant to the Corporations Act. The rate of interest is determined by the provider of each segregated account. You may have been referred to us by a service provider who may receive financial or non-financial benefits from us. These should have been disclosed to you by the service provider in question. Please note that such benefits will not impact transaction fees or the rates you will be offered for financial products or services undertaken with Sonray. 15. Disclosure of any relevant conflicts of interest Market Informer does not have any relationships or associations which might influence us in providing you with our services. 16. Dispute Resolution Sonray has an internal dispute resolution process in place to resolve any complaints or concerns you may have, quickly and fairly. Any complaints or concerns should be directed to Market Informer at first instance, and then the Sonray Complaints Officer (by telephone, facsimile, or letter) at the address and telephone/fax numbers provided in Section 5 of this FSG, or by email to complaints@sonray.com.au We will provide acknowledgement of receipt of written complaints within 5 business days, and seek to resolve and respond to complaints within 30 business days of receipt. We will investigate your complaint, and provide you with our decision, and the reasons on which it is based, in writing. If you are dissatisfied with the outcome, you have the right to lodge a complaint with the Financial Industry Complaints Service Limited [contact details below], an approved external dispute resolution scheme, of which Sonray is a member. You may also make a complaint via the ASIC freecall Infoline on 1300 300 630. FICS 17. Privacy Your privacy is important to us and we are committed to compliance with the Privacy Act and the National Privacy Principles. We maintain a record of your personal profile which includes your personal details and details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you. We may disclose your personal information to external parties, such as our financial service providers, for the purposes of arranging/facilitating your investments or transactions. Such external parties are required and committed to protecting your privacy. If you wish to access information we hold about you, please ask us and we will make arrangements for you to do so. A copy of our privacy policy is available from us. Please contact us if you have any concerns. |
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