About Us > Information > Regulators Statement



INVESTMENT BUSINESS - NOT GENERAL INSURANCE





This document sets out the basis on which Corrigans will conduct business with you and on your behalf and so it is important – please read it carefully and if you are unsure about anything please ask for an explanation. It should be read in conjunction with the attached Key Facts about our Services and Costs, keeping both for future reference.

Corrigans are members of, and are regulated by, the Financial Conduct Authority and are bound by their rules. This Client Agreement has been drawn up in accordance with our understanding of those rules.

Corrigans offer independent financial advice, but occasions can arise where Corrigans or one of our other clients may have some form of interest in business which is being transacted for you.  If this happens, or if Corrigans become aware that its interests or those of other clients conflict with your interests, you will be informed in writing to obtain your consent before carrying out your instructions.

Although instructions can be given verbally you will be required to sign a form relating to each transaction confirming your wishes and how you want to pay for the services you receive.  Our authority to act for you may be withdrawn at any time in writing without penalty, but you will be liable for any transaction effected or charges due before this final instruction is received.

When Corrigans have arranged any investments for which you have given instructions no further advice will be given to you unless you request it, but Corrigans will be glad to advise you at any time you ask. All investments will be registered in your name unless you first agree otherwise in writing.

Corrigans are authorised to handle client's money and such money will be held in Trust, segregated from the firm's own monies, in a bank account designated "client account". Undertakings have been made with our bank that such money belongs to the clients of Corrigans and that neither the bank nor this company have any rights over it. Money not committed to investment will be returned to you at the latest address on file by crossed cheque immediately unless there is a seperate Client Agreement to the contrary in force. In those circumstances you will be paid interest on the balance standing to your credit in the client account in accordance with The Financial Services (Client Money) Regulations, which require interest to be calculated at a reasonable rate and pay it to you if it exceeds a specified minimum or offset the interest against fees due for the services you receive. Subject to any relevant tax legislation, interest will be paid after deduction of income tax. Money held by Corrigans on your behalf for more than ten days will be placed on deposit at call with Barclays Bank Plc, P.O.Box 2, 25 High Street, Coventry CV1 5QZ.
Advice may be given to you either orally or in writing. In response to specific requests Corrigans will provide details of the basis on which judgements were made leading to the advice given to you during the preceding seven years.

You have told us, without any recommendation on our part, that you want all the documents showing ownership of your investments and any other property belonging to you to be sent to you.  If Corrigans need to obtain the original documents showing ownership of your investments for any business being arranged for you, you will make those documents available.  Where a number of documents relating to a series of transactions is involved Corrigans will normally hold each document until the series is complete and then forward them to you.  If you instruct us in writing to retain any documents Corrigans will deposit them for safe keeping in our safe deposit facility at this address.  Due to the additional responsibilities that are placed upon us, a charge is levied for the retention of documents to meet administration costs.  Statements of the assets held will be issued in May and November each year.  In such cases Corrigans may be entitled to retain your investments or other assets until any amount due for charges relating to the administration or custody of your assets have been paid in full, but Corrigans will not exercise any right of retention, sale or lien for any other purpose.  Corrigans will only borrow money on your behalf against the security of the investments if you have given your prior written instructions to do so.  Systems are in place for keeping a record of your holding of investments and other assets, indicating whether they are subject to any charge.

All service propositions consist of these six elements unless you have asked for a report or advice in isolation:


  1. gathering enough information about you to give advice as if “standing in your shoes”,
  2. carrying out research to identify suitable solutions for your needs,
  3. providing you with reports, financial health-checks and forecasts,
  4. recommending specific investment funds or products to meet your needs and identifying the cost of each one,
  5. acting between you and the supplier with a view to arranging the contracts recommended to and agreed by you, and
  6. offering to review progress towards your goals on a regular basis, the continuing suitability of the original strategy and its component parts.

Records of your transactions will be kept for seven years and you may inspect any of these.  Please give at least twenty-four hours notice if you wish to exercise this right to ensure all information is recovered from completed files.

If you have any complaint about the advice you receive or a product you have bought please write to the Compliance Officer, Corrigans at 5 Sycamore Court, Birmingham Road, Coventry CV5 9BA.  If you make a valid Complaint against Corrigans in respect of investments arranged by Corrigans for you and Corrigans are unable to meet its liabilities in full, you may be entitled to compensation from the Financial Services Compensation Scheme. Details of the cover provided by that Scheme were shown in each of the Key Facts documents provided and are also given in a leaflet which will be sent when addressing a complaint or at your request.  Further information is available from the Financial Conduct Authority and the Financial Services Compensation Scheme.

You have the right to refer your complaint to The Financial Ombudsman Service, free of charge - but you must do so within six months of the date that we send you a final decision letter with a leaflet setting out how you can contact that body. Their website address is http://www.financial-ombudsman.org.uk/. If you do not refer your complaint in time, the Ombudsman will not have our permision to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman beleives that the delay was as a result of exceptional circumstances.      




 

Issued February 2016 FCA Number: 138941