Important Notice

This website is not directed at any person in any jurisdiction where for any reason this website’s publication or availability is prohibited and any person to whom such prohibition applies may not access this site. Any person who accesses this site does so on their own initiative and is responsible for compliance with the applicable laws and regulations. Legal advice should be sought in cases of doubt. These web pages have not been and will not be registered under the securities laws of any jurisdiction, including the U.K. and the U.S.

Nothing in this website constitutes an offer or the solicitation of an offer, for the purchase and sale of any investment.  Information on this website is not offered as advice on any particular matter and must not be treated as a substitute for specific advice. In particular, Information on the website does not constitute professional, financial or investment advice and must not be used as a basis for making investment decisions.

You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.  The investments and services contained or referred to in this website may not be suitable for you and it is recommended that you consult an independent investment advisor if you are in doubt about such investments or investment services. The value of investments may fall as well as rise and the income from them may fluctuate and is not guaranteed. Full terms and conditions and documentation for the investments and services contained or referred to in this website will be sent to you upon request.

The entire contents of the website are subject to copyright with all rights reserved. Unless otherwise agreed in writing from Standard Bank Group Limited and its subsidiaries (the “Standard Bank Group Limited”) no information contained in this website can be incorporated, reproduced, distributed or transmitted.

Following are the primary regulated entities within the Corporate Investment Banking Division (“CIB”) of Standard Bank Group.

People’s Republic of China

The information contained in this website is of an educational or general branding nature, and is targeted only at identified groups of PRC clients who have previously expressed an interest to receive information of a similar nature from us.  Nothing contained in this website is intended to be distributed to the general public.  Nothing mentioned or referenced in this document shall be regarded as our investment advice (including investment advice in relation to any market, or any product provided by any member of Standard Bank Group or by any other person).

Standard Advisory (China) Limited is a non-banking subsidiary of the Standard Bank Group and, with regard to this document, is permitted to facilitate forwarding of information of such nature to identified persons in China who have expressed an interest in receiving it. It is not permitted to give any advice or provide any product which it is not approved by the relevant governmental authorities to give or provide.

The distribution of any information contained in this website does not constitute provision of financial information service in China, by Standard Advisory (China) Limited or by any other member of Standard Bank Group which requires approval from the Information Office of the State Council according to Provisions on Administration of Provision of Financial Information Services in China by Foreign Institutions.

UK

The information in this website is not intended for the use of persons other than investment professionals or other persons to whom it may lawfully be communicated and must not be acted on or relied on by persons other than such persons. Any investment or investment activity to which this information relates is only available to investment professionals or other persons to whom this information may lawfully be communicated and will be engaged in only with such persons. Standard Advisory London Limited (“Standard London”) is authorised and regulated by the UK Financial Conduct Authority. This document is for distribution in the UK only to, and is only intended to be directed at, persons within paragraphs 19(5) or 49(2) (a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or other persons to whom it may lawfully be communicated.  Persons into whose possession this information comes are required by Standard London to inform them about and to observe these restrictions.  Telephone calls may be recorded for quality and regulatory purposes.  Standard Advisory London Limited, 20 Gresham Street, London, EC2V 7JE.

United States

In the US, the Standard Bank Group is acting through its agents, Standard New York, Inc. and The Standard Bank of South Africa Limited, Representative Office. Standard New York, Inc. is a member of FINRA and SIPC and it is neither a bank, regulated by the United States Federal Reserve Board, nor insured by the FDIC. The Standard Bank of South Africa Limited, Representative Office is regulated by the New York State Department of Financial Services and the Federal Reserve Bank of New York as a Representative Office, and it is neither a bank nor a depository institution and it is not insured by the FDIC or any other agency of the United States.

If the information in this website relates to securities, please note that in the US, the Standard Bank Group is acting through its agent, Standard New York, Inc., which is a member of FINRA and SIPC and it is neither a bank, regulated by the United States Federal Reserve Board, nor insured by the FDIC.  Neither the information in this website nor any copy of it nor any statement herein may be taken or transmitted into the US or distributed, directly or indirectly, in the US or to any US person except where those US persons are, or are believed to be, (a) qualified institutions acting in their capacity as holders of fiduciary accounts for the benefit or account of non US persons (as such terms are defined in Regulation S under the US Securities Act of 1933, as amended (the “Securities Act”)) or (b) qualified institutional buyers within the meaning of Rule 144A under the Securities Act.

South Africa

The Standard Bank of South Africa Limited (Registration Number 1962/000738/06) is a public company duly incorporated with limited liability according to the company laws of the Republic of South Africa and a licensed financial services provider in terms of the Financial Advisory and Intermediary Services Act 2002 and a registered credit provider.

Dubai

The Standard Bank of South Africa Limited (DIFC Branch) is authorised and regulated by the Dubai Financial Services Authority (register number F002907). Within the Dubai International Financial Centre the financial products or services to which this marketing material relates will only be made available to Professional Clients, including a Market Counterparty, who meet the regulatory criteria of being a Client.

Jersey

Standard Bank Jersey Limited 
Standard Bank Jersey Limited is regulated by the Jersey Financial Services Commission to conduct deposit taking business under the Banking Business (Jersey) Law 1991; investment business and fund services business under the Financial Services (Jersey) Law 1998; and is a member of the London Stock Exchange.Standard Bank Offshore Group Limited whose registered office is at 47-49 La Motte Street, St Helier, Jersey JE2 4SZ.

Standard Bank Offshore Trust Company Jersey Limited 
Standard Bank Offshore Trust Company Jersey Limited is regulated by the Jersey Financial Services Commission to conduct trust company business and is a wholly owned subsidiary of Standard Bank Offshore Group Limited.

Standard Bank Fund Managers Jersey Limited 
Standard Bank Fund Managers Jersey Limited is regulated by the Jersey Financial Services Commission to conduct fund services business under the Financial Services (Jersey) Law 1998 and is a wholly owned subsidiary of Standard Bank Offshore Group Limited.

Isle of Man

Standard Bank Isle of Man Limited 
Standard Bank Isle of Man Limited is licensed by the Isle of Man Financial Supervision Commission for banking business and is a wholly owned subsidiary of Standard Bank Offshore Group Limited.

Banking deposits made with Standard Bank Isle of Man Limited are covered by the Depositors Compensation Scheme contained in the Isle of Man Banking Business (Compensation of Depositors) Regulations 1991. The Isle of Man has a financial Services Ombudsman Scheme covering disputes relating to financial services offered in or from within the Isle of Man to individuals.

Standard Bank Trust Company Isle of Man Limited
Standard Bank Trust Company (Isle of Man) Limited is licensed by the Isle of Man Financial Supervision Commission as a corporate and trust service provider and is a wholly owned subsidiary of Standard Bank Offshore Group Limited.

Standard Bank Trust Company (Isle of Man) Limited is registered with the Isle of Man Insurance and Pensions Authority as a Professional Retirement Benefits Schemes Administrator. The Isle of Man has a Financial Services Ombudsman Scheme covering disputes relating to financial services offered in or from the Isle of Man to individuals.

Mauritius

Standard Bank Trust Company Mauritius Limited 
Standard Bank Trust Company (Mauritius) Limited is licensed as a Management Company under the Financial Services Act 2007. Standard Bank Trust Company (Mauritius) Limited is not licensed to operate as a bank under the Banking Act 2004. Standard Bank Trust Company (Mauritius) Limited is a wholly owned subsidiary of Standard Bank Offshore Group Limited.

Prospective investors should be aware that the protections provided to investors by the UK regulatory system established under FSMA do not apply to any investment services or products provided by Standard Bank Offshore Group Limited or any of its subsidiaries. In particular, investors will not be entitled to compensation from the Financial Services Compensation Scheme, nor will they be entitled to the benefits provided by the Financial Ombudsman Service or other protections afforded to Customers under FSMA.