These Regulations for provision of brokerage, investment and agency services on the Securities market (hereinafter the “Regulations”) determine the procedure, terms and conditions for provision of brokerage, investment and agency services by sunnashiv.com (hereinafter the “Company”) on the financial market to any individual or legal entity that meets the requirements established by these Regulations (hereinafter the “Client”).
The Company and the Client separately shall be referred to as the “Party” and jointly as the “Parties”. Jointly individuals and legal entities, which the Company provides services under these Regulations, shall be referred to as the “Clients”.
General information about the Company:
Name:sunnashiv.com
Date of Incorporation: 9 February 2014
Legal address & Business Address:
Exchange Place 3, Semple Street, Edinburgh, Scotland, EH3 8BL
>Email.: sunnashiv.com
The Company is duly authorised by the Securities and Exchange Commission of the Republic of Cyprus (hereinafter referred to as “CySEC”) and is entitled to provide investment, ancillary services and conduct investment activities:
Securities and Exchange Commission of the Republic of Cyprus, address:Agios Ioannis 'Αγιος Ιωάννης Cyprus
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sunnashiv.com USER AGREEMENT---
This agreement (the "Agreement") is for customers who are based outside the United States of America.
In reviewing these terms you will see that some text is coloured in green. These clauses set out the detail of the FCA regulated services provided to you by CB Payments, Ltd. All clauses not coloured in green relate to the unregulated services provided to you by sunnashiv.com UK, Ltd.
This is a contract between you and each of:
sunnashiv.com US, Ltd ("sunnashiv.com")
, a private limited company incorporated licensed and headed in United States and United Kingdom legislations
CB Payments, Ltd ("sunnashiv.com Payments") a private limited company incorporated in England and United States and whose registered office is New 5th floor, 6 St. Andrew Street, London EC4A 3AE .
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Under these Regulations the Client’s intends to invest monetary funds in various securities and other financial instruments on international capital markets.
The Client appoints the Company as the Client’s attorney and agent with full power and authority and upon approval of the Client to act in accordance with the Client’s instructions and these Regulations (except as expressly provided by legislation) and to take all reasonable and necessary actions in connection with the Company’s obligations and rights as set forth herein.
The Company establishes different policies and procedures regulating the account opening process for different types of clients. As a general rule individual client can open an account with the Company by completing online questionnaire on the website https://sunnashiv.com. In certain cases when the Company considers that more information is required to perform the assessment of suitability and appropriateness of an individual client, such clients might be requested to complete the extended questionnaire for opening a brokerage account in the form of Appendix 2.3 and initially submit it to the Company via email: info@sunnashiv.com, while providing original documents to the Company later in accordance with clause 8.6.2 hereof. All legal entities willing to open an account with the Company shall complete the special questionnaire in the form of Appendix 2.2 and submit it initially via email: info@sunnashiv.com, while providing original documents to the Company later in accordance with clause 8.6.2 hereof. All three questionnaires relevant for different types of clients and appendices are published in these Regulations on the Company’s website: https://sunnashiv.com.
To accede to the terms and conditions of these Regulations the Clients sign the Brokerage Agreement in the form of Appendix 1 hereto (hereinafter the “Brokerage Agreement”). Signing of the Brokerage Agreement by the Client means acceptance by the Client of all the terms and conditions specified in these Regulations without exception. The company has a License Number of CIF 227/14
The Brokerage Agreement shall be signed by the Client personally or by its representative acting on the basis of power of attorney or other grounds set by legislation in force.
The Brokerage Agreement is deemed to enter into force from the date of its signing by the Parties.
Prior to or at the moment of execution of the Brokerage Agreement by the Client the Client shall:
The Brokerage Agreement and other documents required to be executed by the Client may be signed and submitted by the Client to the Company at the Client’s discretion, as follows:
1.1 The Company shall provide the Client with brokerage and investment services on international financial markets, and the Client shall pay the Company a fee for the services.
The brokerage and investment services are to be provided by the Company to the Client in respect of the financial instruments and related investments listed in the license granted to the Company by CySEC that is published on the Company’s web-site: https://sunnashiv.com.
The Company also provides investment services to the Client in respect of monetary funds transferred by the Client to the Account opened with the Company under these Regulations and held by the Company pursuant hereto.
In accordance with the license granted to the Company by CySEC the Company may provide the Client with ancillary services related to the aforementioned financial instruments and associated investments.
The full list of financial instruments and investment services, also as ancillary services related to the permitted financial services and associated investments, provided by the Company, is published on the Company’s web-site: https://sunnashiv.com.
In the event of amendments to the list of financial instruments the Company shall notify the Client of the changes made in accordance with the procedure provided for making amendments to these Regulations.
1.2 For the purpose of these Regulations Securities and monetary funds jointly with all investments and recurrent investments, returns from monetary funds and investments, and also all profit and returns, except for all expenses, shall be referred to as the “Portfolio”.
1.3 In accordance with the Client Order and these Regulations the Company may execute the Client Orders on regulated markets and outside regulated markets. Transactions executed outside regulated markets mean “Over-the-Counter (“OTC”) transactions. The company was licensed on 12/10/2016.
Transactions executed on regulated markets shall be carried out in accordance with legislation of the country where the regulated market is and rules, regulations/agreements of market regulators (organizers of trading on the capital market).
The Company may transfer Client Orders for execution to third parties, the list of which is given in Appendix 7 hereto (hereinafter referred to as the “Sub-Brokers”) on regulated markets and Over-the-Counter markets.
1.4. By acceptance of these Regulations the Client gives its consent to have transactions executed by SubBrokers in course of execution of Client Orders given to the Company and on the terms of provision of services established by Sub-Brokers with stocks, other securities and financial instruments on regulated markets, on which the Company is not a participant.
The Client also gives its consent that when executing Client Orders outside regulated markets (Over-the- Counter markets) the Company shall be entitled to conclude a transaction (several transactions) independently and/or transfer an Order in full or in part to the Sub-Broker for execution.
1.5 In the event that transactions according to the Client Order are executed by the Sub-Broker, the Company shall accept the Client Orders from the Client and transfer the Client Orders to the Sub-Broker and shall remain responsible for such acceptance and transfer, and, in case of necessity, may provide an exchange of the documents between the Client and the Sub-Broker.
In respect of Client Accounts the Company shall keep records of all transactions executed by the Sub-Broker according to the Client Orders placed with the Company by the Client, records of the Client’s securities and monetary funds in accordance with the data provided by the Sub-Broker.
1.6 In general the Company shall not carry on, in course of execution of Client Orders given to the Company, transactions to buy/sell financial instruments, the execution of which is not supported by the Client’s funds, including transactions, settlements under which are carried out using funds lent by the Company and/or a Sub-Broker to the Client (hereinafter the “Margin Transactions”), and also transactions to buy/sell financial instruments, at the time of the conclusion of which the amount of monetary funds or the number of the Client’s financial instruments held by the Company are not sufficient to perform such a transaction or fulfil obligations under such deal (hereinafter the “Unsecured Transaction”).
The Company may execute margin and/or unsecured transactions for the Client’s interests in accordance with addenda to these Regulations that specify the terms and conditions for the said transactions, signed by the Parties.
When Sub-Brokers execute transactions on behalf of the Client, margin and unsecured transactions may be executed by the Sub-Broker on the terms specified by the Sub-Broker and using funds provided by the SubBroker. The Company shall not bear risks connected with margin lending of the Client by the Sub-Broker when transactions are executed by the Sub-Broker in accordance with Client Orders placed with the Company by the Client.
General rules and conditions of execution of margin and unsecured transactions also as risks connected with execution of the said transactions are specified in Appendix 8.2 to the present Regulations.
1.7 When Client Orders are executed by the Company including transactions with securities, other financial instruments (including futures market instruments) outside regulated markets, which were placed by the Client with the Company by means of informational - trading systems operating via the Internet (hereinafter the “Internet Trading Systems”), Client Orders shall be executed in accordance with the principles and regulations that form an integral part of these Regulations and also in accordance with the application of standard terms (specifications) of contracts, the contents of which are disclosed in the worldwide web at the web site: https://sunnashiv.com.
By acceptance of these Regulations the Client confirms that it has familiarized himself/herself with, understood and given consent to the application by the Company of principles, regulations and specifications of contracts, specified above, when executing Client Orders on Over-the Counter markets that were placed by the Client with the Company in accordance with the procedure specified in this clause of the Regulations.
Any amendments/additions to the above principles and regulations, contract specifications shall be brought to the attention of the Client by placing them on the Internet at the site https://sunnashiv.com at least 3 (three) calendar days before they become effective.
Before submitting Orders to the Company using Internet Trading Systems specified in Appendices 2.1 and 2.2 the Client undertakes to wire monetary funds in the amount agreed upon by the Parties in Appendix 3 hereto to the Company’s bank account specified in Appendix 3.
2.1 The Company shall act only upon the detailed Client’s Instructions (Appendix 4) (including, but not being restricted by date, time and means of execution of transactions) to purchase Securities that need to be included in the Portfolio or sell Securities held in the Portfolio. The Client shall appoint the Company as its Agent without further approval from the Client to act on behalf of the Client in accordance with the Instructions and the present Regulations (except as expressly provided herein or as may be required by legislation) and to take all reasonable and necessary actions in connection with the Company’s obligations and rights as set forth herein.
2.2. In respect of the Client Orders the Company shall be authorized to act in favor of the Client’s interests, when dealing with sub-brokers, dealers or other authorized persons, when buying, selling, exchanging Securities or other property and/or proprietary rights that form the Portfolio at the moment or which will become part of the Portfolio in future.
2.3 The Company provides the Client with non-exclusive investment and financial services. Nothing in these Regulations shall prevent the Company to provide investment and financial services to other persons. The Company shall duly and fairly perform its obligations in respect of each client the Company is rendering services to.
2.4 The Company may subscribe or apply for investments on behalf of the Client under any transaction.
2.5 The Company may, in accordance with the Client’s Instructions and at the expense of the Client, act as principal in respect of any transaction related to disposal of Securities in the Portfolio or (as the case may be) acquisition of Securities for the Portfolio and such transaction may be entered into in the name of the Client or in the name of the Company.
2.6 The Client can only downgrade their account package before trading else all upgrades requires it package fee to activate.
2.7 The Client hereby acknowledges and agrees that the Company shall be under no obligation to purchase Securities until the Client Order has been placed by the Client with the Company, the Client has sufficient monetary funds on the Cash Account (as hereinafter defined) to fund the purchase of such Securities including all associated costs and expenses.
The Client hereby acknowledges and agrees that the Company shall be under no obligation to sell Securities until the Client Order has been placed by the Client with the Company, the Client owns all such Securities and such Securities are being held by the Company on the Securities Account (as hereinafter defined) and no legal or other restrictions for the sale of such Securities exist.
2.8 The Company reserves the right to reject the application for opening an account without disclosing any reason.
3.1 The Company executes Client Order according to the policy for executing Orders, the description of which, including the description of Best Execution criteria, is given in Appendix 9 hereto.
3.2 The Company shall not be obliged to execute those Client’s Orders that result or can result to violation of any laws or resolutions with which the proposed transaction and/or Company comply with. The Company shall be entitled to do whatever it deems necessary to comply with such laws, resolutions or regulations.
The Company shall inform the Client that in its opinion, such Orders are at odds with such laws, resolutions or regulations and it is necessary that the Client’s Orders shall be amended in accordance with the applicable legislation.
3.3 The trade and upgrade on sunnashiv.com are to be strictly followed and considered when choosing plans.
Before every upgrade customers are to pay the required upgrade fee before any upgrade is processed.
3.4 The Client hereby acknowledges and agrees on the all Withdrawal taxes, Withdrawal Fees are taxable, Any withdrawal for each customer / member on sunnashiv.com is taxable by a mandated 15% One-Time Tax Fee on customer current Net Account and a 10% Withdrawal Fee on any current or processing withdrawal . Please Note that, ( The OneTime Tax and Withdrawal fees are triggered from any withdrawal starting from $500 for any type of account plan ).
3.5 With the Acknowledgment of 3.4 paragraph, All customer Taxes are paid cleared and paid outside every account account or funds active on the account. All Customers / Members are mandated to make the required 15%, 10% total Fee to sunnashiv.com before each customer / member withdrawal is completed.
4. Policy for managing conflicts of interests
4.1 The Company implements a policy of managing conflicts of interest aimed at identifying, preventing and managing conflicts of interest, a brief description of which is given in Appendix 10 hereto.
4.2 The Client may at any time request the Company for any additional information about the Company’s conflicts of interest management policy, and the Company shall provide this information directly to the Client by a durable medium or provide this information to Clients through its website.
5.1 In accordance with Directive 2004/39/EC of the European Parliament and of the Council (hereinafter referred to as “MiFID”) and the Investment Firms Law 144(I)/2007 of the Republic of Cyprus (hereinafter referred to as the “Law”), the Company is obliged to categorise Clients as follows: retail clients, professional clients and eligible counterparties.
By accepting these Regulations the Client acknowledges and agrees that he is automatically categorised as a Retail client.
Taking into account the Client’s professional experience and knowledge the Company may, at the Client’s request and/or at the Company’s sole discretion, change the Client’s categorization from retail client to professional client.
In case the Company assigns the Client to another category, the Company shall notify the Client in a durable medium of any limitations to the level of client protection related to such change to another category.
5.2 Information on the levels of protection related to each category of clients specified in Appendix 11 to these Regulations.
6.1 With regard to each Client the Company performs assessment of its suitability and appropriateness with regard to the services provided to the Client by the Company. The Company assesses the Client’s experience and knowledge to realize the relevant risks with regard to specific services that the Company provides to the Client and with regard to the financial instruments the Client intends to deal with and transactions to be executed by the Company on behalf of the Client.
6.2 To assess the suitability and appropriateness of the Company’s services for the Client, the Company requests from the Client, and the Client undertakes to provide the Company with information in the scope and degree corresponding to the peculiarities of this Client, nature and amounts of the Company’s services this Client intends to use, and also the types of transactions and operations the Client intends to execute through the Company’s assistance, including their complexity and accompanying risks, including the following information:
The aforementioned information should be provided by the Client to the Company before signing by the Client of the Brokerage Agreement by completing by the Client of the Questionnaire in the form of Online questionnaire for Individual opening account online, for Individuals opening account under standard procedure; for Legal Entities respectively. The Company reserves the right to request the Client for any additional information both before the signing by the Client of the Brokerage Agreement and during the term of the Brokerage Agreement.
6.3 The Company has the right to rely on the information provided by the Client to the Company unless the Company is aware or ought to be aware that such information is manifestly out of date and/or inaccurate and/or incomplete.
6.4 If the Company considers, on the basis of information received from the Client, that an investment service or a financial instrument does not correspond to the Client’s knowledge or experience in the area of investments in financial markets, the Company shall notify the Client of this conclusion in a durable medium.
6.5 If the Client fails to give information about his/her knowledge or experience (or provided incomplete information), the Company shall give notice to the Client in a durable medium that such omission makes it impossible to assess how an investment service and/or a financial instrument corresponds to the Client. In the event given above the Company has the right not to provide the Client with a relevant service and/or execute operations on behalf of the Client with a relevant financial instrument before it receives the required information from the Client in full.
7.1The Client shall be solely responsible for assessment of risks in relation to the purchase and sale of Securities. The Company shall strongly advise that the Client has its own independent consultant, both legal and financial, in order to be informed of the risks associated with the entry into any such transactions.
No documentation or information forwarded by the Company to the Client should be taken as constituting investment advice.
7.2 The Company shall make no representations or warranties in relation to the Securities. The Company shall make no representations or warranties in relation to any information provided or opinions expressed to the Client (whether in writing or verbally) in connection with any such Securities or with investments in general, except for the general description of the nature and risks associated with financial instruments is given to Clients or potential Clients.
7.3 The Client confirms that before entering into the Brokerage Agreement he/she has carefully studied the brief description of the primary risks related to investments in financial instruments on both international financial regulated markets and Over-the-Counter market, including the description of the nature of financial instruments and risks related to specific financial instruments (Appendix 8.1 hereto), and also confirms that information is understandable to the Client and that he/she is able on the basis of information to independently assess the risks and rewards related to the purchase and sale of specific financial instruments. By acceptance of these Regulations the Client gives his/her consent to accept all of the aforementioned risks.
7.4 By acceptance of these Regulations the Client confirms that he/she has carefully studied and understood the Declaration of Risks associated with margin and unsecured transactions on financial markets (Appendix 8.2 hereto) and gives its consent to accept the risks and in this connection he/she agrees to sign the Declaration.
7.5 In accordance with these Regulations and current legislation, without prejudice to the provisions set out in Article 6 hereof and other duties of the Company, the Client accepts any and all possible risks related to investments in financial markets as part of these Regulations, including the risks both specified in Appendix 8.1 and Appendix 8.2 hereto and those that are not specified in the mentioned Appendices.
8.1The Company may rely upon any communication in any form (including verbal communication) made by any authorized signatories on behalf of the Client listed in Client Account Form hereto. The Client shall be responsible for the execution of any contracts or obligations entered into, and for all costs and expenses incurred by the Company in consequence of such communication. The Client shall inform the Company in writing of any changes in the authorized signatories listed in Client Account Form. Information on the changes should be provided by the Client to the Company in the form of Appendix 2.3 to these Regulations. Until the Company receives notification of any such change, the Company shall not act in accordance with any of such change.
8.2The Parties agree that both Parties may record telephone conversations with the other Party or such Party’s employees, officers and agents, and such recordings may be used as evidence in the event of a dispute. Any Instruction given orally by telephone or otherwise shall be legally binding and shall put the Client under obligation to enter into a transaction, to which the Company is a party on behalf of the Client in accordance with such Instruction.
8.3The Client shall be entitled to forward to the Company Orders to execute Securities transactions as follows:
8.3.1 in writing as a hard copy by presenting an original Order using the form shown in Appendix 4 hereto;
8.3.2 using the relevant Internet Trading Systems operating via the worldwide web, as shown in the Client Questionnaire, Appendices 2.1 and 2.2 that were selected by the Client and provided by the Company to the Client when signing by the Client of the Brokerage Agreement or subsequently with the use of all functional possibilities of these Internet Trading Systems, including text messages exchanged by the Client and the Company on a real time basis (chats);
8.3.3 by telephone in the cases indicated below:
- if an Instruction implies its execution on international regulated markets or on Over-the-Counter market, and the Client (another person that gives an Instruction on behalf of the Client) properly and concurrently gives the name/designation of the Client and the password which was given by the Client to the Company at the time when Internet Trading Systems specified in Appendices 2.1 and 2.2 were selected;
8.4 The Client’s permanent Internet access is an obligatory term for the acceptance of these Regulations. By acceptance of these Regulations, the Client confirms that he/she has permanent Internet access and in evidence of this the Client informs the Company on his/her address of electronic mail (E-mail) that should be used by the Company to notify the Client of the address/changes in the address of the website and of addresses/changes in the directives of sections of this website that the Company uses to provide the Client with information in accordance with these Regulations, and also to notify the Client of any material changes in the information given by the Company to the Client.
The Client also confirms that he/she is aware of the possibility of malfunction (breakdown) in the operation of the Company’s website and accepts all possible risks related to unfavorable consequences of such malfunction (breakdown) for the Client.
By acceptance of these Regulations the Client confirms that when choosing whether to receive information provided by the Company as a hard copy pursuant to clause 8.5.1 hereof or via the Company’s website (clause 8.5.4 hereof) and/or using other secure means specified in clauses 8.5.2 - 8.5.3 hereof, the Client selects the latter and/or using other secure means specified in clauses 8.5.2 - 8.5.3 hereof, and also gives its consent to entitle the Company at its own discretion to provide information to the Client using any of the means referred to above.
8.5 Provision/transfer of in durable medium under these Regulations means any instrument of provision of information that enables the Client to store information addressed personally to the Client in a way accessible for future reference for a period of time adequate for information purposes and allows the unchanged reproduction of the information stored.
For the purpose of these Regulations durable medium of Provision/transfer of information shall include:
8.5.1Provision/transfer of information as a hard copy personally to the Client (authorized representative of the Client,) hand to hand, and also via courier or other postal services that make it possible to accurately identify the sender and the date of dispatch and receipt of correspondence;
8.5.2 Provision/transfer of information by email (including files sent containing scanned originals);
8.5.3 Provision/transfer of information using Internet Trading Systems in the cases specified by these Regulations;
8.5.4 Provision/transfer of information through the Company’s website in cases specified in these Regulations.
8.6 In cases when, in accordance with this clause, the Client should send Orders to the Company and/or the Company should provide the Client with information by means of postal, e-mail and telephone services, the Client Orders will be deemed forwarded to the Company, and information will be deemed duly provided in the event that the Parties use postal, email addresses or telephone numbers that are specified in:
8.6.1 For the Client - address specified in the Client Questionnaire;
8.6.2 For the Company:
The Parties undertake to notify each other of any changes in contact details specified above in advance by means specified in these Regulations.
8.7 All other notices, correspondence and other information, except for the Client Orders and information, the provision of which by the Company to the Client is expressly specified herein and/or by the Law, will be sent by one Party to the other Party by means specified in clauses 8.5.1 - 8.5.3 of these Regulations.
Notices, correspondence and information under this clause should be forwarded by the Parties to the addresses specified in clause 8.6 hereof and will be deemed duly accepted by the Parties when:
- forwarded via facsimile or email - on the date of forwarding.
8.8 Any information in accordance with this Agreement and communication of the Parties with regard to the issues related to this Agreement may be performed in Russian or in English languages.
9.1 The Company hereto declares that it holds Client’s monetary funds and financial instruments separately from its own monetary funds and financial instruments.
The Company shall not dispose of, charge, manage or use in a different way the financial instruments kept on behalf of its clients, unless the client has given a prior written express consent.
The Company exercises all due measures, care and diligence in the selection, appointment and periodic review of the banks where the Client’s funds are held and custodians the Client’s financial instruments are held with, and the revision of the holding of the Client’s funds with these banks and custodians.
9.2 The Client’s monetary funds shall be recorded on the Company’s Cash Account(s). The Client shall deposit with one of the Company’s accounts (banking details of the accounts are indicated on Appendix 3 hereto) the initial amount set forth in Appendix 3 hereto. The Company has a right to choose any other bank or several banks where Accounts will be opened with. Any bank account in the name of the Company in which cash moneys are held shall be designated as a “Client’s Account” or similar to put third parties on notice that those moneys do not belong beneficially to the Company.
When monetary funds are deposited by the Client (any other person on behalf of the Client) on the Company’s bank account, the Company shall perform identification of a person that carried out such deposit of the monetary funds, the Company has the right to require from the Client, and the Client (another person acting on behalf of the Client to deposit funds) shall provide all the required information to the Company. In the event of the required information is not provided by the Client, the Company has the right not to credit monetary funds to the Client Account and return monetary funds to the person that transferred such funds.
9.3 The Client’s financial instruments shall be held on the Company’s Securities Account (Custodian Account) (the “Securities Account”/”Custodian Account” together with the Cash Account - the “Accounts”).
9.4 The Company shall maintain its own books and records, where the Company shall enter records of all securities purchased, sold and any other transaction conducted by the Company on behalf of the Client pursuant to the present Regulations.
9.5 The Company is authorized to receive and hold all earnings and the initial amount wired to the Portfolio and also holds Securities until they become due or until full payment of them is made.
9.6 The Company’s books and records shall at any time reflect that the Client’s Securities are part of the Portfolio. All proceeds or earnings of the Portfolio received or paid to the Company shall be beneficially owned by the Client and shall be held by the Company on the Accounts.
9.7 The Client may at any time request to transfer any amount of monetary funds retaining of the sufficient amount on the Cash Account to execute the Client’s outstanding liabilities and reimburse to the Company for all the costs and expenses connected with the said transfer. Monetary funds will be transferred only by wire transfer to the Client’s bank account specified in the Client Questionnaire Form (Appendix 2.2 to these Regulations for legal entities and Online questionnaire to these Regulations for individuals) within 10 (ten) business days after the receipt by the Company of the Client’s Order for transfer of funds.
9.8 The Client may at any time request the transfer of the portion of or the entire Portfolio held on the Securities Account/Custodian Account. In this event, or in the event that the Brokerage Agreement is terminated pursuant to Clause 19 of these Regulations, the Company shall, within 10 (ten) business days after the receipt by the Company of the Client’s Order for the transfer of monetary funds and/or Securities
(Appendix 8.1 and 8.2 to the present Regulations), transfer the portion of or the entire Portfolio to the Client or its authorized representative, withholding the amount sufficient to reimburse the costs and expenses for such transfer.
The Company is under no obligation to transfer any Securities, if, in the opinion of the Company, such assignment transfer is prohibited by or is not compliant with any effective law or regulation applicable to such transfer.
In case of the transfer of some of Securities turns out to be unachievable or impossible, the Company shall duly notify the Client and continue holding such Securities until further Client’s instructions.
9.9 In the event of the Client’s Orders have been executed by Sub-Brokers, the Client’s relevant operations with securities and funds, the safe-keeping of shares and other securities and/or records kept on the rights to shares and other securities of the Client will be carried out on the Company’s custody accounts opened with Sub-Brokers (or with other custodians) and bank accounts with credit institutions in the manner and on the terms determined by Sub-Brokers (custodians), credit institutions, which are disclosed on the Internet at the addresses shown in Appendix 7 hereto.
The procedure for maintaining aforementioned custody accounts and bank accounts shall be regulated by laws and other statutory acts of the countries of registration of Sub-Brokers (depositaries) and credit institutions, therefore the Client’s rights related to these financial instruments and/or monetary funds may be changed accordingly.
The Company undertakes to notify a Client in the manner specified in these Regulations of all other cases, except for the one given above, when financial instruments and/or monetary funds of this Client may be held by a third party on behalf of the Company.
The Company shall notify the Client of any cases when it is not possible to maintain financial instruments with a third party separately from own financial instruments of this third party and shall give express notice of the related risks.
9.10 The Company has a right to hold the Client’s monetary funds when upgrade is pending.
9.11 The Company reserves the right and the Client agrees with the Company’s right to keep the Client’s monetary funds and financial instruments in omnibus accounts opened with third parties on a fungible basis. In this case the Company guarantees to the Client the following:
9.12 The Company shall bear no responsibility before the Client for any actions, inactions or omissions of a third party and also for any losses incurred by the Client in a result of actions, inactions or omissions of a third party unless such losses directly arises from the Company’s wilful default or fraud or gross negligence. The Company shall also bear no responsibility or liability for unfavorable consequences for the Client due to the insolvency/bankruptcy of a third party.
9.13 The Company has a right to hold the Client’s monetary funds and financial instruments with credit and financial institutions outside European Economic Area.
If the Company holds the Client’s monetary funds and financial instruments outside European Economic Area they will be subject to the laws of that state and the Client’s rights in relation to those monetary funds and financial instruments may differ accordingly.
10.1 The Company hereto informs the Client that the Company is a member of the Investor Compensation Fund for Customers of Cypriot Investment Firms (hereinafter referred to as the “Fund”) in order to secure financial instruments (Securities) and monetary funds, transferred by the Client to the Company according to the present Regulations. Fund secures the Client’s claims which may arise from failure of the Company to fulfil its obligations to the Client.
In cases specified in the Law, if the Company is unable to fulfil its obligations under these Regulations, the Client has a right to receive compensation at the expense of the above-mentioned Fund.
10.2 Brief information about Fund’s objects, conditions and procedure of compensation payment by the Fund to the Clients is contained in Appendix 12 to these Regulations.
11.1 Neither the Client nor the Company, who deal with the Securities, have a right to use such Securities as the subject of any transaction, as pledge, debt repayment, payment, debt obligations or as any other form of deriving profit, except as pursuant to the effective legislation or these Regulations.
11.2 Hereby, Clients are strictly obliged to follow the rules and regulations of any forms of debt settlements, be it, withdrawal fee payment, deposit-account upgrade payments, account closure fees.
The regulations guiding clients compulsory debt settlements for 15% withdrawal fee payments, 6% complusory fee for accounts under closure status, and 2% account maintenance fees must be completed before clients and company have a final agreement on account status.
In accordance with these Regulations and current legislation, without prejudice to the provisions set out in Article 11.1 & 2, hereof and other duties of the Company, the Client accepts any and all possible risks related to investments in financial markets as part of these Regulations, including the risks both specified in Appendix 11.1 and Appendix 11.2 hereto and those that are not specified in the mentioned Appendices.
12.1. When entering into each transaction which requires registration, the Company shall carry out such registration on the Client’s behalf or on its own behalf, but at the expense of the Client, and all registration fees shall be paid up by the Client and shall be debited from the Client’s Cash Account.
12.2. The Company shall, at the Client's expense, take every reasonable measure to ensure that the Securities are registered with a relevant register and, if required, present a receipt or an excerpt from such register that such registration was performed.
12.3. The Company shall be entitled to appoint an agent to perform registrations. The Company, or its agent, may rely upon any document or other communication reasonably believed by the Company or its agents to be genuine and correct; and/or upon any person who is authorized to settle these issues.
12.4. The Company makes no representations or warranties as to the truth, completeness or accuracy of any extract from any register or that the extract properly states the interest of the interested party, except for the cases as described in clause 9.7 of the present Regulations.
12.5. Registration of the transaction and/or Securities shall be made in accordance with the legislation requirements of the country where the transaction executed and/or Securities issued.
13.1 The Client shall reimburse the Company and third parties providing services to the Company the following expenses (hereinafter referred to as the “Expenses”), incurred by the Company in the course of the proper fulfilment of its obligations under the present Regulations:
13.2. When executing a Client Order to purchase securities and/or transfer monetary funds in a currency other than the currency of the funds that form the Portfolio, one currency shall be converted into another currency at the exchange rate quoted by the converting bank at the time of conversion.
13.3. At conversion the rounding off shall be made in accordance with standard rule, up to minimal monetary unit of currency of conversion (cent, eurocent, kopeck). If the third figure after a comma is less, than 5 the rounding off shall be made aside reduction (the rounding off shall be made in favor of the Company). In case of the third figure after a comma is more or equals to 5 the rounding off shall be made in greater party (the rounding off shall be made in favor of the Client).
13.4. Expenses incurred for maintaining the Company’s bank client accounts shall not be charged to the Client’s account and shall be paid by the Company independently.
13.5. The Company, upon the Client’s request, shall provide the Client with information about valid tariffs of third parties according to which the Company incurs expenses. Unless otherwise provided for in the present Regulations, Appendices to the Regulations and/or other Company’s documents the list of the expenses can be shortened by particular kinds of expenses that will be included in compensation to the Company charged according to the present Regulations.
13.6. The Company shall not be liable for any error of judgment or any loss suffered by the Client in connection with the use of its services provided under these Regulations (and in particular, but without limitation, the Company shall not be held liable for any loss which may be sustained in relation to the purchase, storage or sale of any Securities in accordance with these Regulations), unless such loss arises from bad faith, wilful default or fraud on the part of the Company or any of its employees except for cases when the Company is responsible to the Client in accordance with these Regulations and/or legislation.
13.7. The Client indemnifies the Company from all costs and expenses reasonably incurred by the Client and also against debts payable to third parties pursuant to or in connection with these Regulations, unless due to the negligence, wilful default or fraud on the part of the Company.
13.8. Each of the Company and the Client bear its own legal fees in relation to the execution of these Regulations and the formation of the Portfolio.
13.9. As compensation for its services under these Regulations, the Company charges the Client, and the Client undertakes to pay to the Company the fee according to the procedure for Company’s fee calculation specified in Appendix 6 to the present Regulations.
13.10. Unless otherwise specified in the Regulations or addenda between the Company and Client, all amounts due to the Company and/or third parties providing services to the Company shall be deducted from the Client’s monetary funds held in the Company without the Client’s additional consent. The Client authorizes the Company at any time, at the Company’s discretion and without notice to the Client to set-off and/or charge any of the Client’s assets in order to discharge any of the Client’s obligations to the Company and/or third parties.
13.11. If at any time the Client’s funds freely available at the Client’s Account(s) with the Company are insufficient to cover expenses incurred by the Company and subjected to reimbursement by the Client, the Client shall promptly deposit funds to cover the deficiency. If the Client fails to make the said deposit within 5 (five) working days from the moment a relevant notification is sent, the Company may proceed with the sale of financial instruments from the Client’s securities account(s)/Custody Account(s) without further notice to the Client unless otherwise agreed upon by the Company and the Client. The Company will then notify the Client of the effected sale orally, via email or by sending a relevant notification via the Company’s Trading Systems.
13.12. The Client shall confirm its awareness with the fact that in case of absence on the Client’ Accounts of cash and/or securities necessary for the execution of the Client’s Order, and also in the event that no cash is available for the payment of the Company’s services and others expenses incurred by the Company according to the terms of these Regulations, the Company shall not be entitled to execute Client Orders.
14.1 The Company, further to the fees and charges paid or provided to or by the Client or other person on behalf of the Client, as stated in Section 11 and Appendix 6 hereto, may pay and/or receive fees/commission to/from third-parties, provided that these benefits are designed to enhance the quality of the offered service to the Client and not impair compliance with the Company’s duty to act in the best interests of the Client.
14.2 The Company charges the Client a 15% one time fee/commission in order for a requested withdrawal to be approved. The amount of the requested withdrawals must be larger than the maximum amount of the current plan operated by the Client. The Company has the obligation and undertakes to disclose to the Client, upon his/her request, further details regarding the amount of fees/commission or any other remuneration paid by the Company to Introducing Brokers, agents, or other third parties.
14.3 The Company may also receive fees/commission as well as other remuneration from third parties based on a written agreement. The Company may receive fees/commission from the counterparty through which it executes transactions (if applicable). This fee/commission is related to the frequency/volume of transactions executed through the counterparty. The Company has the obligation and undertakes to disclose to the Client, upon his/her request, further details regarding the amount of fees/commission or any other remuneration received by the Company from third parties.
16.1. The Company shall promptly provide the Client in durable medium with information in respect of the execution of each Client order.
16.2. Notice about the execution of an Order shall be forwarded to a Retail Client in durable medium within the shortest possible deadline, but no later than the first business day after its execution, and in the event that confirmation of the execution of such order is received by the Company from a third party, but no later than the first business day upon receipt of confirmation from a third party.
The content of a notice about the execution of an order as mentioned above shall be determined in accordance with statutory acts of the Republic of Cyprus and the European Union. The Company shall be entitled to provide the Client with information contained in such notice in the form of standard codes provided that the Client is given explanations on how to interpret these codes.
The regulation specified in the first paragraph of this clause shall not apply in the event that the confirmation contains the same information as given in the confirmation that is immediately forwarded by another person to a Retail Client.
16.3 The provisions of clause 16.1 and clause 16.2 hereof shall not apply in case when executed the Client’s Instructions relate to bond financing transactions with mortgage loans with this Client. In this case a transaction statement shall be compiled at the same time as the approval of loan terms, but no later than one month after a relevant Instruction is executed.
16.4 In addition to the presentation of statements in accordance with clause 16.1 and clause 16.2 hereof, at the Client’s request, the Company shall provide the Client with information about the status of its Instruction.
16.5 In the event of execution of a Retail Client’s Instructions that relate to fund units or equity stakes in collective investment businesses that are executed periodically, the Company shall provide the Client with a report in accordance with clause 16.2. hereof or shall be entitled to provide the Client with information under said transactions no less than every six months.
16.6 Within the first 10 (ten) working days following the reporting month, and also in the event that the Company receives the Client’s notice about the termination of the Brokerage Agreement, the Company shall provide the Client with a report on the Company’s performance in accordance with these Regulations for the past calendar month, and also information about the Client’s monetary funds on the Cash Account and the status of the Securities Account/Custodian Account through the Company’s website (for the Client to view information in the personal section (Review Your Account section) using the login and the password that were given to the Client at the time when the Brokerage Agreement was signed) and/or in other durable medium.
The Client may express disagreement with information provided within 10 (ten) days after the Company submits/forwards this information.
The Parties hereby agree that if the Client does not express a disagreement with the information provided by the Company within the aforementioned deadline, this shall imply the Client’s consent with respect to all information contained in the report and the report shall be deemed accepted by the Client without remarks.
16.7 At the Client’s request, the Company shall also send the Client by fax or using other electronic means updated information related to the indicators of the trading activity, net positions and the estimate of the market value of the Portfolio, as determined in good faith by the Company, and also a statement on movements of the Client’s cash on the Cash Account. The Client may express its disagreement with information presented within 10 (ten) working days after such information is forwarded by the Company.
If within the aforementioned deadline the Client does not express a disagreement with the information provided by the Company, this shall mean the Client’s consent with respect to all the information provided.
16.8 The Client and the Company hereby agree that with regard to transactions and other operations on the securities market, trading in which the Client selected (uses) Internet Trading System(s), specified in Appendices 2.1 and 2.2, the Company’s reports to the Client and other information in accordance with clauses 16.6 and 16.7 hereof shall not be provided. The Company’s reports to the Client and other information shall be provided to the Client using said Online Trading System(s) in the format and to the extent envisaged by this (these) system(s) and/or through the Company’s website.
The Client confirms that when choosing whether to receive the Broker’s reports under these Regulations as a hard copy or through Online Trading System(s), the Client shall select the latter.
16.9 The Company shall perform operations during normal business hours and within this period of time the Client shall have the right to receive all real facilities, as well as assistance from other authorized representatives in order to verify and confirm the Company’s reports on investments and securities held in the Portfolio.
17.1. The Company shall, unless it:
warrant that any and all unofficial information related to the Portfolio shall be kept by the Company as strictly confidential. Notwithstanding the foregoing, the Company’s consolidated records on transactions executed may include information related to the trading results of the Securities, which form the Portfolio, with no indication of the Client’s name.
17.2. Both Parties, including their representatives, agents, attorneys, employees and/or other authorized persons, shall be required to keep strictly confidential any information regarding all terms and conditions, amendments, addenda, transactions and operations hereunder that is not available to third parties, in the event that either of the Parties gives no prior written consent to this or it is not required by a ruling of the court or any other authorized state body.
18.1. The Client shall represent and warrant to the Company that it is capable and has sufficient authorities to enter into the Brokerage Agreement, that the Client is an experienced and professional investor and has necessary knowledge and experience for adopting investment decisions and foresee and assess their consequences.
Investment products contained on this site are not available and information in respect to them may not be distributed to persons resident in any territory where such distribution would be contrary to local law or regulation. The information or investment products and offers set out in the website of sunnashiv.com is not directed to the United States. US citizens (as defined in Regulation S under the US Securities Act 1933) and persons resident in the US may not use this website. Information from this website may not be distributed or redistributed into the United States or into any jurisdiction where it is not permitted. The products described on the website of sunnashiv.com are only offered or sold to persons in any other jurisdiction, if applicable law permits this.
Furthermore, products and services described herein are not available to all persons in all geographical locations. It is the responsibility of the Client to confirm and acknowledge that the services or products provided to him/her are allowed under the Laws of his/her Country and he/she shall be solely responsible for any fines, penalties or restrictions implied on him/her or his/hers accounts due to breach of Law and Regulations.
The information and services provided on this website are not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation or which would subject the Company to any registration requirement within such jurisdiction or country. Persons or entities in respect of whom such prohibitions apply must not access or use the site.
The Company provides access to several trading platforms and financial instruments situated or issued in different jurisdictions.
The Client confirms and acknowledges that he/she shall not trade in financial instruments and or involve himself/herself in margin trading, speculative trading etc. if it is restricted by the Laws of the Country where he/she is resident or by the Laws of the Country of Origin of the client.
Mandatory Buyback
The Client hereby acknowledges that he automatically and unconditionally agrees with the parameters of the mandatory buyback offer of shares owned by him, during the procedure of compulsory acquisition of the stakes of minority stockholders.
The Company is not responsible for notification of the Client about expected compulsory acquisitions; it is the responsibility of the Client to track such events.
If the Client wishes to sell his shares until the compulsory acquisition, he must submit an order for the sale of shares before date of blocking of securities within the procedure of compulsory acquisition.
18.1.1. In the event that the Client is a legal entity, the Client shall guarantee that it is duly incorporated, established or founded and also that it has all necessary powers.
The Client shall guarantee that it acts under the laws of its country of registration, incorporation or location.
When signing the Brokerage Agreement in the form of Appendix 1 to the Regulations for provision of brokerage, investment and agency services on the Securities market the Client being the legal entity shall be required to present the following documents to the Company:
When signing the Brokerage Agreement in the form of Appendix 1 to the Regulations the Client being the individual shall be required to present the following documents to the Company:
General requirements to the documents provided by the Client to the Company:
Documents confirming source of the Client’s income are required to be submitted by the Client, each of individual or legal entity, to the Company in case of the amount to be invested by the Client for the purposes of trading with the financial instruments exceeds EURO 15.000.
The Company reserves the right to request the Client to provide the Company with documents confirming source of the Client’s income in case of the amount to be invested by the Client for the purposes of trading with the financial instruments is less than EURO 15.000.
The Client shall be allowed to provide the Company with uncertified copies of the documents specified in this subclause provided that the originals are presented to the Company’s employee or the Company’s Representative acting on the basis of an agreement signed with the Company.
The Company reserves the right to request the Client to provide the Company with any additional documents in case of any doubts or insufficiency of information.
The Client undertakes within 3 (three) business days to notify the Company of the receipt of new documents in exchange for the documents mentioned above and/or of changes in information given in the Client Questionnaire, and also to present within 10 (ten) business days in the manner envisaged for the dispatch of notices duly certified copies of said documents and Changes in the Client Questionnaire (Appendix 2.3 hereto) that are signed by the Client.
18.1.2 The Client shall act within the limits of the current legislation of the country of its location (if the Client is a legal entity) or residence (if the Client is an individual), and as he/she enters into the Brokerage Agreement, he/she shall be entitled to conclude it on terms specified herein, and will strictly comply with it when using the Company’s services.
18.1.3 In the event that the Client participates in the Brokerage Agreement as a principal, or if the Client acts as an agent in respect of any transactions or assets, the Company shall consider the Client as a principal in relation to such transactions or assets and the Client shall hereby be held liable for the execution of the Brokerage Agreement like the Client personally entered into the Brokerage Agreement as a principal.
18.1.4 The person who enters into the Brokerage Agreement on behalf of the Client is duly authorized to do so.
18.1.5 Execution and fulfilment of the Brokerage Agreement by the Client do not contravene or violate or constitute a default of obligations or exceeds them, does not involve default in payment and are not a reason which adds to default in payment and do not contradict to everything listed below and namely: any law by which the Client or any of its assets are governed; rights of any third parties in respect of the Client or the Securities; any agreement to which the Client or any of its assets are a party.
18.1.6 The Client, a legal entity, is a taxpayer and is obliged to specify the country and body where these taxes are paid.
18.1.7 In the event that the Client is an individual, the Client represents and warrants that he or she is an experienced investor who is well-informed in financial and business matters and is capable of evaluating advantages and risks of investments and hereby guarantees and possesses sufficient powers for active and passive operations and it is not restricted in any way.
18.2.1 The representations and warranties specified in Clause 18.1 above are deemed unchanged for the Client for each subsequent transaction.
18.3 The Company represents and guarantees to the Client the following:
18.3.1The Company is duly incorporated, exists under the laws of the Republic of Cyprus and has all necessary powers;
18.3.2 The Company shall act within the limits of the current legislation of the Republic of Cyprus and entering into the Brokerage Agreement, it shall be entitled to conclude it on terms set forth in the present Regulations and shall strictly comply with it when it renders services to the Client;
18.3.3 The person who signs the Brokerage Agreement on behalf of the Company is duly authorized to do so;
18.3.4 Execution and fulfilment of the Brokerage Agreement by the Company do not contravene or violate or constitute a default of obligations or exceed them, do not involve default in payment and are not a reason which adds to default in payment and do not contradict to everything listed below and namely: any law by which the Company or any of its assets are governed; rights of any third parties in respect of the Company or the Securities; any agreement to which the Company or any of its assets are a party.
18.4 Dormant - Inactive Accounts - handling unclaimed funds
18.4.1 Dormant: If the Client does not use the account for trading activity for more than six (6) months the account is automatically classified as Dormant.
In case the Client’s Trading Account is Dormant for 12 months and there were no trades executed over a period more than 12 month, the Company reserves the right to close the account and terminate the agreement unilaterally with a written notice.
18.4.2 Inactive: If the Client never activates the account opened with the Company, meaning that no funds were received and no transactions were made, the Company shall treat the account as Inactive.
In case the Client’s Trading Account is inactive for more than 6 months from the date of opening the account, the Company reserves the right to close the account and terminate the agreement unilaterally with a written notice.
18.5.Allocated unclaimed client money entitlements
The Company will take certain reasonable steps to trace the clients concerned and distribute the client money entitlements.
The steps include:
If the client’s money entitlement is less than EUR 10 the Company will be required to take fewer steps.
18.5.1. In cases where the Client’s account balance would be Nonzero the Company will declare the remaining balance as unclaimed funds and will transfer the balance in a suitable designated Client Suspense Account for safe-keeping with the Company.
18.5.2. Commissions and fees of the Company for the safe-keeping and all expenses payable to third parties including the external brokers or agents which are directly related to safe-keeping of the monetary funds and/ or financial instruments will be deducted from the balance of the client(s) in the Suspense Account. The Company reserves the right to sell all or part of the client’s financial instruments in the Suspense Account to recover the expenses directly or indirectly related to the safe-keeping of your financial instruments.
19.1. Interpretation of terms and the legal concepts containing herein shall be given according to understanding attached to corresponding terms and concepts by the legislation of the Republic of Cyprus and legal practice of the Republic of Cyprus. The present Regulations are construed and shall be governed by the laws of the Republic of Cyprus.
19.2. Any disputes and disagreements under the present Regulations and the Brokerage Agreement shall be resolved by the Parties by way of negotiations. In case of failure to resolve disputes and disagreements by way of negotiations the settlement shall be in accordance with claim procedure. Claims shall be considered within 30 (thirty) working days.
19.3. Claims, including applications and complaints (hereinafter jointly referred to as "claims") shall be submitted in writing and signed by the authorized representative of the Party. The claim shall contain:
The claims, which do not contain data on the Client’s name or the location (address) shall be classified as anonymous and left without consideration.
19.4. The Party to which the claim is sent shall have the right to request the other Party for additional documents and data. The term of reviewing a claim shall be extended for the period of submitting documents, but not more than for 10 (ten) working days.
19.5. The reply to the claim shall be sent to the Party initiated the claim. The reply should be made in writing and signed by the authorized representative of the Party which responds to the claim. The claim can be left without consideration if the repeated claim does not contain new data, and all the reasons stated in it were reviewed earlier in full and objectively, and the response was sent. Simultaneously, the notice about leaving the claim without consideration, with reference to the previously given response shall be presented to the Party, which initiated the claim.
19.6. Disputes related to the execution by the Parties of their obligations under the Brokerage Agreement, not settled by way of negotiations or claim procedure, shall be considered judicially. Cases shall be brought before a relevant court in a principal place of business or place of residence of a defendant.
20.1. Neither the Client, nor the Company shall be held liable for consequences of any delay, failure or inability to fulfil obligations contained herein, or pursuant to any transaction, for reasons beyond their reasonable control. Such events will include, without limitation: any law, order, regulation or threat of any governmental or other authority, computer system breakdown, change of market conditions or practice, or actions of the holder of an issuer's shareholder register, which prevent fulfilment by the Parties of their obligations under the present Regulations or any transaction.
21.1. The Brokerage Agreement shall be concluded for an indefinite period of time. The Company shall be entitled to terminate the Brokerage Agreement at any time by providing at least 10 (ten) working day written notice to the Client. The Client shall be entitled to may reject the Company’s services at any time by providing 10 (ten) working day written notice to the Company. In the event of either party serves a notice to terminate the Brokerage Agreement, the Company shall (unless otherwise required by the Client) continue to fulfil its obligations hereunder, except that after receipt of such cancellation notice, the Company shall not initiate new obligations without the Client’s special instructions.
21.2. The Agreement shall be terminated without prejudice to completion of transactions previously initiated, otherwise the Company shall be entitled to reimbursement. Transactions in progress shall be fulfilled in accordance with the Client’s Orders or, in the absence of any instructions, in the best interests of the Client’s Portfolio.
The Client may enter into additional agreements or make through the intermediary of the Company other synthetic investments provided that the Company is entitled to provide respective investment services, including with regard to such synthetic investments (financial instruments), in accordance with the license issued by CySEC (“Addenda”). Cash and securities related to the Addenda may be kept on the Account in accordance herewith. The Parties have agreed that in the event of any conflict between the terms hereof and the Addenda, the Addenda shall prevail and control any transaction related to such Addenda. Notwithstanding the aforesaid, any cash and/or securities kept on the Account under any Addendum shall be subject to reimbursement based on the terms specified hereunder.
23.1 Amendments and/or additions to these Regulations and the Brokerage Agreement, including to the Appendices hereto, shall be made unilaterally by the Company.
Under the general rule, unless otherwise provided by the order of the Company’s Director on making amendments and/or additions hereto, all amendments and additions hereto shall take effect and become binding for the Client upon the expiry of 3 (three) calendar days from the time when the Client is notified of the amendments and/or additions made hereto.
The Client shall be notified of the amendments and (or) additions made hereto by posting messages on the Company’s website https://sunnashiv.com, and at the Company’s discretion, the Client may be additionally notified using one of the ways specified in clause 8.5 hereof.
23.2. All amendments and/or additions hereto may, at the Company’s discretion, be made in writing. In case of amendments and /or additions made in the form of Addenda between the Parties, such Addenda shall be signed by authorized representatives of the Parties and shall constitute an integral part of the present Regulations and the Brokerage Agreement.
23.3. The Parties agree that the Company has the right to use the facsimile signature of its Director and/or the Company’s employee duly authorized to sign the Brokerage Agreement and other documents required to be signed under these Regulations, if the use of facsimile signature does not contradict the current legislation.
Reproduction of the facsimile signature mentioned above shall be recognized by the Parties as the manual signature of the director and/or the Company’s employee duly authorized and imply the observance of the requirement for a transaction to be executed in writing.
23.4. If one of the provisions of the Regulations is or becomes invalid, this shall not affect validity of other provisions hereof.
Disclaimer: sunnashiv.com is a company duly incorporated and existing under the laws of the Republic of Cyprus. In provision of its brokerage, investment and agency services to the Clients sunnashiv.com is governed by the Investment Firms Law 144(I)2007 of the Republic of Cyprus and regulated by Securities and Exchange Commission of the Republic of Cyprus (“CySEC”). In case of an inquiry from CySEC sunnashiv.com is obliged to provide CySEC with all the required information regarding the Client, the present Regulations and the Brokerage Agreement, and also any other information about the Client and his/her activity under the present Regulations known to the Company.
Brokerage Agreement #
Cyprus “__ “_________ 20_
“sunnashiv.com”, hereinafter referred to as the Company, represented by its__________________
acting on the basis of____________________ , and_____________________ , hereinafter referred to
as the Client, jointly referred to as the Parties.
“sunnashiv.com”
CLIENT QUESTIONNAIRE FOR INDIVIDUALS
Important Notice
Being an investment company acting under the license granted by CySEC and observing the applicable laws, by-laws, rules, and regulations adopted by state authorities, domestic and international regulatory agencies and professional associations, we are required to protect our clients’ interests, for which purpose we believe our primary tasks are to understand our clients, the nature of their business, financial position, sources of funds, and to ensure that we understand fully their investment objectives, knowledge and experience in investment sphere, and also in certain financial product or service.
Thus, you certify that all statements made in this Client’s questionnaire (the “Questionnaire”) and all information, documents or others, provided to us (hereinafter referred to as the “Information”) is complete, true and accurate, and that it is provided upon your initiative. You agree to be fully liable for the provided Information, and do not object that the Information is being collected also to confirm your business reputation according to practices applicable in international securities markets.
You also agree that according to the Information provided by you in this Questionnaire and other documents, we may after estimation on an individual basis consider you as a professional client and work with you as a professional client, unless the other agreement is reached. In any event, the Company reserves the right to assume any possible measures for checking reliability of the Information, specified by you in the Questionnaire, particularly to request supporting documents and also additional information and documents for the purpose of your classification in definite category of clients, and you hereby certify your consent to provide such documents and information.
If you are considered as a professional client, you shall be in order according to the written agreement with the Company to ask for a higher level of protection in relation to one or more Company's services, particular transactions or types of transactions/products, if you think that you are unable to assess or manage the risks involved properly.
You hereby consent and agree that you shall be liable to notify the Company of any modifications to the Information provided that may influence your classification to the definite category of clients.
The Information provided in this Questionnaire shall be kept confidential and shall not be disclosed by us to a third party without your consent other than by explicit requirement under the applicable laws. You agree and acknowledge that if it is required to disclose any of such information, we shall, without your additional consent, submit information only to the extent required by the appropriate regulations and only to the person specified in such regulations.
If you do not provide information or provide insufficient information pursuant to paragraph 1 of the present notice, this may not allow the Company to determine appropriateness and suitability of specific services and/or products and result in relevant restrictions in their providing by the Company, including failure to conclude the Brokerage Agreement and Online Adhesion Contract to Regulations for provision of asset management services with you.
Signature
CLIENT AUTHORISATION
□ I do hereby accept, agree, give my explicit consent and authorise the Company to perform all necessary actions with regard to additional income generated on uninvested balances of monetary funds and financial instruments
□ Activate the service Money Market Sweep
I hereby provide my express consent that authorizes the Company to transfer uninvested cash balances from my brokerage account to an interest-bearing deposit account with one of the banks where the Company maintains deposit accounts.
When funds are needed to finance purchase of securities, margin calls, withdrawal of funds from my brokerage account or settle any other obligation arising in connection with my account the Company will undertake all necessary steps to withdraw necessary amounts from deposit account and transfer funds back to my brokerage account without any delay.
More information about the money market instruments and associated risks can be found in Appendix 14 to the Regulations for provision brokerage and agency services on the securities market.
□ Activate the service “REPO”
I hereby provide my express consent and give my order that authorizes the Company to conclude REPO transactions with all available, unutilized and unblocked financial instruments on my brokerage account.
When these financial instruments are needed back in my brokerage account the Company will undertake all necessary steps to withdraw necessary financial instruments from REPO and transfer them back to my brokerage account without any delay.
More information about the REPO and associated risks can be found in Appendix 15 to the Regulations for provision brokerage and agency services on the securities market.
□ I do hereby accept, agree and authorise the Company to open in my behalf an additional account under Regulations for provision of asset management services
□ I do hereby accept, agree and give my consent to:
□ I hereby accept all risks related to the Manager's failure to disclose or untimely disclosure of any information related to the performance or cancellation of transactions, whenever such failure or untimely disclosures are due to inaccurate or incomplete information specified by the Client’s in this Questionnaire.
□ I hereby agree that in that case all the disputes between the Manager and the Client shall be settled taking into account the above provision.
CLIENT CONFIRMATION
This account will be used to trade and/or invest on behalf of myself as the account holder
I, the account holder, have never been the subject of an investigation or proceeding by any commodities or securities exchange or regulatory authority or self-regulatory authority
I, the account holder, have never been the subject of, or initiated litigation, arbitration or any other type of dispute or settlement procedure with another broker or dealer
I, the account holder, confirm that I am not a member of an exchange or a regulatory or a self- regulatory organization, or an associated person, affiliated person or employee of an exchange member.
CLIENT DECLARATON
I agree that sunnashiv.com will provide me with information regarding investments.
I agree that my personal information, including name, personal identification number, address etc., as well as client information, including account information, investments etc., submitted by me when registering as a client with sunnashiv.com or later or which otherwise comes into LeadCapital Market’s possession may be disclosed to partners of “sunnashiv.com”. I agree that sunnashiv.com and its related parties may send me communications about offers and promotions.
I declare that I act in my own name as specified above and not on behalf of a third party in respect of all matters related to this client relationship. Accordingly, all funds to be deposited and traded on the account with sunnashiv.com are my own funds.
CLIENT CONSENT
I declare that I give my express consent to the following provisions and policies:
□ I have carefully read and fully understood the entire text of the present Brokerage Agreement, Regulations for provision of brokerage, investment and agency services on the Securities market, Online Adhesion Contract and Regulations for provision of asset management services and all disclosures and policies included thereon.
□ I declare and understand that trading in derivative are in line with my investments objectives and risk profile, including possibility of unlimited financial losses that might be associated with the risky investments in derivatives.
□ I further acknowledge that trading with financial instruments on financial market may involve significant risk of loss and it is not suitable for all investors, that the value of the investments can both increase and decrease and the investors may lose all their investment capital, I acknowledge that in case of a leveraged product, the loss may be more than the initial capital invested and any financial success of other parties doesn't guarantee the same result for investor.
COMPLEX INSTRUMENTS RISK WARNING NOTICE
This notice is provided to you, as a retail client, in compliance with the rules of the Cyprus Securities and Exchange Commission.
Retail clients are afforded greater protections under these rules than other clients. The levels of the affordable protection are set out in the Appendices to our standard Regulations.
This notice cannot disclose all the risks and other significant aspects of complex instruments. You should not deal in these products unless you understand their nature and the extent of your exposure to risk. You should also be satisfied that the product is suitable for you in the light of your circumstances and financial position.
Although Complex instruments can be utilized for the management of investment risk, some of these products are unsuitable for many investors. Different instruments involve different levels of exposure to risk and in deciding whether to trade in such instruments you should be first make acquainted yourself with the risks associated with the investments as disclosed in Appendix 8.1. to the Regulations and also consult the financial advisor before making investments in complex instruments
Appropriateness
Complex instruments are derivative products for which special risks apply. Investors are required to provide information regarding their knowledge and experience in these products so as to enable an assessment whether the product is appropriate for them to be made, as requested in Questionnaire which you are requested to fill in before we can proceed to offer a service. Your responses to the questions will deem whether trading in complex instruments is appropriate for you.
Declaration
I acknowledge that this appropriateness test is in place for my protection and confirm that the answers I have provided are truthful.
I understand the risks involved in dealing in complex instruments and declare that I have sufficient knowledge about the product and am able to assess the merits and declare that the product is appropriate in relation to my investment needs and abilities.
I also confirm that complex instruments are suitable for me, given my investment objectives and attitude to risk and that I meet the experience and expertise conditions.
Acknowledged and accepted by the Client:
Appendix 2.2 to the Regulations for provision of brokerage, investment and agency services on the securities market
CLIENT QUESTIONNAIRE FOR LEGAL ENTITIES
Important Notice
Being an investment company acting under the license granted by CySec and observing the applicable laws, by-laws, rules, and regulations adopted by authorities, domestic and international regulatory agencies and professional associations, we are required to protect our client’s interests, for which purpose we believe our primary tasks are to understand our clients, the nature of their business, financial position, sources of funds, and to ensure that we understand fully their investment objectives, knowledge and experience in investment sphere, and also in certain financial product or service.
Thus, you certify that all statements made in this Client’s questionnaire (the “Questionnaire”) and all information, documents or others, provided to us (hereinafter referred to as the “Information”) is complete, true and accurate, and that it is provided upon your initiative. You agree to be fully liable for the provided Information, and do not object that the Information is being collected also to confirm your business reputation according to practices applicable in international securities markets.
You also agree that according to the Information provided by you in this Questionnaire and other documents, we may, after estimation on an individual basis consider you as a professional client and work with you as a professional client, unless the other agreement is reached. In any event, the Company reserves the right to assume any possible measures for checking reliability of the Information, specified by you in the Questionnaire, particularly to request supporting documents and also additional information and documents for the purpose of your classification in definite category of clients, and you hereby certify your consent to provide such documents and information.
If you are considered as a professional client, you shall be able, according to the written agreement with the Company, to ask for a higher level of protection in relation to one or more Company’s services, particular transactions or types of transactions/products, if you think that unable to assess or manage the risks involved properly.
You shall be responsible for notification to the Company of any modifications of the Information that may influence your classification to the definite category of clients.
The Information provided in this Questionnaire shall be kept confidential and shall not be disclosed by us to a third party without your consent other than by explicit requirement under the applicable laws. You agree and acknowledge that if it is required to disclose any of such information, we shall, without your additional consent, submit information only to the extent required by the appropriate regulations and only to the person specified in such regulations.
If you do not provide information or provide insufficient information pursuant to paragraph 1of the present notice, this may not allow the Company to determine appropriateness of specific services and/or products and result in relevant restrictions in their providing by the Company, including failure to conclude the Brokerage Agreement with you.
Please sign and seal below to confirm your acceptance and agreement to the conditions stated above.
CLIENT AUTHORISATION
□ I do hereby accept, agree, give my explicit consent and authorise the Company to perform all necessary actions with regard to additional income generated on uninvested balances of monetary funds and financial instruments.
v Activate the service Money Market Sweep
I hereby provide my express consent that authorizes the Company to transfer uninvested cash balances from my brokerage account to an interest-bearing deposit account with one of the banks where the Company maintains deposit accounts.
When funds are needed to finance purchase of securities, margin calls, withdrawal of funds from my brokerage account or settle any other obligation arising in connection with my account the Company will undertake all necessary steps to withdraw necessary amounts from deposit account and transfer funds back to my brokerage account without any delay.
More information about the money market instruments and associated risks can be found in Appendix 14 to the Regulations for provision brokerage, investment and agency services on the securities market.
v Activate the service “REPO”
I hereby provide my express consent and give my order that authorizes the Company to conclude REPO transactions with all available, unutilized and unblocked financial instruments on my brokerage account.
When these financial instruments are needed back in my brokerage account the Company will undertake all necessary steps to withdraw necessary financial instruments from REPO and transfer them back to my brokerage account without any delay.
More information about the REPO and associated risks can be found in Appendix 15 to the
Regulations for provision brokerage, investment and agency services on the securities market.
v I do hereby accept, agree and authorise the Company to open in my behalf an additional account under Regulations for provision of asset management services.
v I do hereby accept, agree and give my consent to:
v I hereby accept all risks related to the Manager's failure to disclose or untimely disclosure of any information related to the performance or cancellation of transactions, whenever such failure or untimely disclosures are due to inaccurate or incomplete information specified by the Client’s in this Questionnaire.
v I hereby agree that in that case all the disputes between the Manager and the Client shall be settled taking into account the above provision.
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CLIENT CONFIRMATION
v This account will be used to trade and/or invest on behalf of myself as the account holder.
v I, the account holder, have never been the subject of an investigation or proceeding by any commodities or securities exchange or regulatory authority or self-regulatory authority.
v I, the account holder, have never been the subject of initiated litigation, arbitration or any other type of dispute or settlement procedure with another broker or dealer.
v I, the account holder, confirm that I am not a member of an exchange or a regulatory or a self- regulatory organization, or an associated person, affiliated person or employee of an exchange member.
CLIENT DECLARATON
v I agree that sunnashiv.com will provide me with information regarding investments.
v I agree that my personal information, including name, personal identification number, address etc., as well as client information, including account information, investments etc., submitted by me when registering as a client with sunnashiv.com or later or which otherwise comes into LeadCapital Markets’ possession may be disclosed to partners of “LeadCapital Market Ltd”. I agree that sunnashiv.com and its related parties may send me communications about offers and promotions.
v I declare that I act in my own name as specified above and not on behalf of a third party in respect of all matters related to this client relationship. Accordingly, all funds to be deposited and traded on the account with sunnashiv.com are my own funds.
CLIENT CONSENT
□ I do hereby give my approval and express consent to all present Client Consents:
v I declare that I give my express consent to the following provisions and policies:
v I have carefully read and fully understood the entire text of the present Brokerage Agreement, Regulations for provision of brokerage, investment and agency services on the securities market, Online Adhesion Contract and Regulations for provision of asset management services and all disclosures and policies included thereon.
v I declare and understand that trading in derivative are in line with my investments objectives and risk profile, including possibility of unlimited financial losses that might be associated with the risky investments in derivatives.
v I further acknowledge that trading with financial instruments on financial market may involve significant risk of loss and it is not suitable for all investors, that the value of the investments can both increase and decrease and the investors may lose all their investment capital. I acknowledge that in case of a leveraged product, the loss may be more than the initial capital invested and any financial success of other parties doesn't guarantee the same result for investor.
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