HSBC Expat Banking Terms and Conditions for the AssetMaster service These terms and conditions (the “Terms and Conditions”), together with your application form and any schedule(s), supplemental terms and accompanying documents (this “Agreement”), set out the terms on which we will provide services to you.

2 Contents

Sections: Definitions 4 Nominee Arrangement 4 Services 5 Provision of Services 5 Client Assets 5 Cash 5 Reports, Statements and Information 5 Instructions 6 Liability 6 Your Responsibilities 6 Fees and Expenses 6 Termination of this Agreement 6 Death 7 Joint Agreements 7 Liens 7 Right of Set-off 7 Variation of Agreement 7 Third Party Rights 7 Proper Law Form 7 Your Information 7 Your Information 7 HSBC policy on conflicts of interest 9 Important Information 9

3 1. Definitions Nominee means HSBC Bank Nominee (Jersey) Limited, our wholly-owned subsidiary which we appoint as our Account means your designated AssetMaster account nominee to hold your investments; opened for the purposes of holding your Shares in the name of the Nominee in accordance with this Agreement; Nominee Arrangement has the meaning set out in clause 2 below. Application means the form completed by you applying to open an Account; Personal Data means any information relating to an individual from which they can be identified. Authorities includes any judicial, administrative, public or regulatory body, any government, any Tax Authority, Privacy Notice means our privacy notice which explains securities or futures exchange, court, central bank or law how we collect, use, disclose, transfer and store your enforcement body, or any of their agents with jurisdiction information and also sets out your rights in relation to your over any part of the HSBC Group. information, a copy of which is available on our website at http://www.expat.hsbc.com/1/PA_ES_Content_Mgmt/ Channel Islands means Jersey and Guernsey; content/hsbc_expat/pdf/en/important_documents/HSBC_ Client Asset Order means the Financial Services Privacy_Notice_Expat.pdf or which is available, in hard copy (Investment Business) (Client Assets)) (Jersey) Order 2001 via email or in branch, on request. (as amended from time to time) which is available for Services includes (a) the opening, maintaining and closing review or download from www.jerseyfsc.org; of your bank accounts, (b) providing you with credit facilities Client Money is defined in Article 3 of the Client and other banking products and services (including, for Asset Order; example, investment or other financial advice, discretionary Commission Based Investments means those Shares for investment management, investment dealing, broker, which the annual management charge (AMC) includes both agency and custodian services), processing applications, the product provider’s charge for managing the investment credit and eligibility assessment, and (c) maintaining our and commission paid to us; overall relationship with you, including marketing services or products to you, market research, insurance, audit and Compliance Obligations means obligations of the HSBC administrative purposes. Services includes all services Group to comply with: (a) Laws or international guidance provided to you in connection with your Advice Agreement. and internal policies or procedures, (b) any demand from Authorities or reporting, disclosure or other obligations Share or Shares means such units and/or shares in under Laws, and (c) Laws requiring us to verify the identity collective investment schemes and rights conferred of our customers. by policies of life insurance or other forms of asset (or investment) as determined by us from time to time, held Connected Person means a person or entity (other than or to be held in our name, or in the name of the Nominee, you) whose information (including Personal Data or Tax which we shall from time to time allow to be deposited, Information) you provide, or which is provided on your sold or transferred pursuant to this Agreement; behalf, to any member of the HSBC Group or which is otherwise received by any member of the HSBC Group in Substantial Owners means any individuals entitled to connection with the provision of the Services. A Connected more than 10% of the profits of or with an interest in more Person may include, but is not limited to, any guarantor, than 10% of an entity either directly or indirectly. a director or officer of a company, partners or members Tax Authorities means Jersey or foreign tax, revenue or of a partnership, any “Substantial Owner”, “Controlling monetary authorities Person”, or beneficial owner, trustee, settlor or protector Tax Certification Forms means any forms or other of a trust, account holder of a designated account, payee documentation as may be issued or required by a Tax of a designated payment, your representative, agent or Authority or by us from time to time to confirm your tax nominee, or any other persons or entities with whom you status or the tax status of a Connected Person. have a relationship that is relevant to your relationship with the HSBC Group. Tax Information means documentation or information about your tax status and the tax status of any owner, Controlling Persons means individuals who exercise Controlling Person, Substantial Owner or beneficial owner. control over an entity. For a trust, these are the settlor, the trustees, the protector, the beneficiaries or class of We, us and our means the HSBC Bank plc, Jersey Branch beneficiaries, and anybody else who exercises ultimate trading as HSBC Expat; and effective control over the trust, and for entities other than You and your means the person(s) who signed the a trust, these are persons in equivalent or similar positions application form to open an Account and agree to these of control. Terms and Conditions. Customer Information means your Personal Data, 2. Nominee Arrangement confidential information, and/or Tax Information or that of a Connected Person. 2.1 All Shares purchased or held pursuant to an investment through the AssetMaster service shall be acquired and/ Financial Crime means money laundering, terrorist or held (as applicable) by the Nominee. Accordingly, for financing, bribery, corruption, tax evasion, fraud, evasion of all investors, the legal title to those Shares will be held economic or trade sanctions, and/or any acts or attempts to by the Nominee with the direct beneficial interest in the circumvent or violate any Laws relating to these matters. Shares held by us (the “Nominee Arrangement”). We HSBC Group means HSBC Holdings plc, its subsidiaries, acknowledge you have made an investment in a Fund via associated and affiliated companies. the AssetMaster service and we consider you to be the ultimate beneficial owner of the relevant Shares held by the Laws include any local or foreign law, regulation, codes of Nominee. The Shares will not be sold or amended, in whole practice, guidance notes, judgment or court order, voluntary or in part, without your authority or without due notice code, sanctions regime, agreement between any member having been given to you in writing. of the HSBC Group and an Authority, or agreement or treaty between Authorities and applicable to us or a member of 2.2 This arrangement provides you with a single point of the HSBC Group. contact in respect of your Application and your Shares and is therefore intended to simplify the administration of Nominated Account means your HSBC Expat bank your holdings. account which you nominate for use with this service (you may change your Nominated Account to another HSBC 2.3 You will receive half yearly statements regarding your Expat bank account in your name by letting us know in Shares. The information on the statement will comprise writing, by telephone or by secure eMessage); of the following:

4 • The number and valuation of the Shares; and (whether or not having the force of law) requiring us to take or refrain from action; • A summary of transactions and changes to the Shares during the period. b) steps to make payment on your behalf of any taxes or duties payable on, or in respect of the Shares; 3. Services c) in the absence of or a delay in receiving instructions 3.1 You hereby appoint and authorise us to perform any or all of from you in response to a notification and request in the following nominee services: accordance with Clause 3.1(c), to act or refrain from a) to hold Shares in the name of the Nominee; acting in accordance with the default option as specified b) to sell or to arrange to sell Shares held subject to this in the notification and request; Agreement and to deal with the proceeds in accordance d) steps to return to you Shares which may not have the with your instructions; and same serial number or identification as those originally c) to collect any distributions, interest payments and other deposited with or received by us. entitlements accruing to your Shares and to process 5. Client Assets and credit such accruals to you in accordance with 5.1 Your Shares will be segregated from our property in your instructions. order to protect your interests in the event that we or the 3.2 We reserve the right to refuse to perform any or all of the Nominee fail. However, the title to any of your Shares will services set out in Clause 3.1 if, in our opinion, there are be registered in the name of the Nominee. We remain reasonable grounds for such refusal. Unless prohibited responsible for the safekeeping of your Shares in your from doing so, we will notify you if we intend to exercise account to the full extent required by the Client Asset our rights under this Clause 3.2 and tell you the reasons for Order. We are responsible to you for the acts and omissions such refusal. of the Nominee to the same extent as for our own acts 3.3 We will use reasonable endeavours to notify you of any and omissions. corporate actions, for example income distribution and fund 5.2 Your Shares are registered with investments made by other mergers relating to Shares. investors. This means that your individual Shares may not We will not exercise any voting rights on your behalf, be identifiable by physical or electronic documentation, nor will we notify you of any annual general meetings or such as a separate share certificate. We maintain computer forward copies of reports to you. Where we are required records which enables us, at any time, to identify separately by law or regulation, we will advise you of any cancellation the Shares to which you have a beneficial interest. An or cooling off rights that you may have relating to Shares effect of pooling your Shares can be that, following a which you have instructed us to purchase. merger of one fund into another fund, your allocation may be fractionally less than if your Shares were registered in 3.4 No Shares may be transferred to us under this Agreement your own name. We have policies and procedures in place unless they are: to undertake checks and reconciliations of the records and a) beneficially owned by you and registered in your name accounts of your Shares and to resolve any discrepancies or, if there is more than one of you, by all of you and in which are identified and to deal with any shortfalls in your your joint names; and Shares. Where we are responsible for any such shortfall, we shall purchase assets as soon as reasonably practicable b) accompanied by such transfer documents and at our cost to correct your position. If we or the Nominee instructions as we may require to enable us to transfer default then any uncorrected shortfall in the Shares may such Shares into the name of the Nominee. be shared, proportionately, among all investors whose All fees, expenses, duties or other sums payable in respect investments are so registered. of any transfer shall be payable by you. We may refuse 5.3 Documents of title, for example insurance policy documents to accept the transfer of any Shares until such sums have relating to insurance bond wrapper, for the Shares will be been paid. held by us. 3.5 All Shares delivered or held pursuant to this Agreement will 5.4 We are required to inform you that if you undertake be held in your Account in the name of our Nominee investment Business with any non UK members of the 3.6 We reserve the right to refuse to accept the transfer of any HSBC Group, including HSBC Bank Plc, Jersey Branch Shares into your Account and into the name of our Nominee you will not benefit from the protection of the rules and without giving a reason for such decision. regulations made under the UK’s Financial Service & 3.7 In accordance with clause 6, receipts derived from Markets Act 2000, including the UK Financial Services distributions, interest payments, redemptions, sales and Compensation Scheme. other entitlements accruing to your Shares, together with 6. Cash monies pending investment, will be processed by us and Any money we hold for you will be held by us on deposit paid to you or the product provider(s), as the case may as banker and not as trustee. As a result, money will not be, in accordance with your instructions as soon as is be held in accordance with the Client Asset Order relating practicable. Pending payment, all receipts and monies will to Client Money and if we were to fail the Client Money be held on deposit in a non-interest bearing bank account, distribution rules would not apply to your money and so in our name, and on your behalf. you would not be entitled to share in any distribution made 3.8 You agree we may communicate with you in any of the under those rules. ways set out in the Personal Banking Terms of Business 7. Reports, Statements and Information and those terms will apply to any communications between us in respect of this Agreement and your service. 7.1 We shall prepare periodic statements of your Account (“Statements”) providing details of your Shares and the 4. Provision of Services value of them at intervals agreed between us and at least 4.1 You authorise us to take such steps as we may consider every six months. appropriate (acting reasonably) to enable us to provide the 7.2 Details of all transactions executed on your specific services and to exercise our powers under this Agreement, instructions under this Agreement will be reported to you including (but not limited to): by contract note or other confirmation by post or such other a) steps to comply with any law, regulation, order, method as agreed between us. directive, notice or request of any government agency 7.3 The Shares shown on your Statements are valued based on the prices published by the relevant product

5 provider or reputable publishing house, on behalf of such such country, you will inform us immediately and will, if so product provider. required by us, sell or redeem any such restricted Shares. If you have any questions in relation to this Clause 10.2, 7.4 We will use reasonable endeavours to provide you with any please contact your Premier wealth manager. additional information about your Shares which you may reasonably request in writing from time to time. 11. Fees and Expenses 8. Instructions 11.1 We do not apply any charges for providing services in accordance with this Agreement in relation to your Shares. 8.1 Instructions in respect of Shares may be given in writing, by Charges may be introduced on not less than 30 days’ notice letter or in such other manner as we may agree. to you in writing. In the event that charges and expenses 8.2 We, or our Nominee may: are introduced, they will be automatically debited from your a) decline to act on your instructions where to do so Nominated Bank Account. would, in our or the Nominee’s reasonable opinion, 11.2 It is important to note that although the AssetMaster involve acting contrary to any applicable law, rule, service does not apply a charge, the following charges may regulatory requirement or other duties to which we may apply for investing into Funds or insurance bond wrappers be subject; or within the service: b) decline to act on instructions where such instructions i. An advice fee of up to a maximum 3% of the amount are incomplete, unclear, ambiguous and/or in conflict invested where investment is into B class Shares with other instructions received from you, (but shall be following the provision of investment advice; or under no duty to so decline), ii. an initial fee of up to a maximum 3% of the amount provided that in any case where we or our Nominee invested following the provision of investment advice, or declines to act on your instructions, we will notify you of iii. an initial fee of up to 1.5% of the amount invested such decision as soon as reasonably possible. where investment is made directly, without investment 8.3 If more than one of you has entered into this Agreement advice, via our online internet banking and telephone with us, then, unless indicated in any mandate or other service. contractual document relating thereto, any instructions or The advice fee under i) above will be deducted separately notice to be given under this Agreement may be given by to the investment amount. The initial fee under ii) and iii) or to any one of you, we and our Nominee may act on the above will be deducted from the investment amount and authority of one of you without further enquiry, and one of the net amount will be invested. you may provide us with a full discharge in relation to our obligations to all of you. 12. Termination of this Agreement 9. Liability 12.1 If you wish to end your Agreement and close your Account, you may do so by informing us in writing. Where 9.1 Unless otherwise specifically indicated by us in writing more than one of you has entered into the Agreement, all and subject as provided in this Agreement, we shall parties must sign the closure request. be responsible to you for any losses, liabilities, costs, expenses and demands arising directly or indirectly from 12.2 We may end your Agreement and close your Account on the performance of the Services under this Agreement not less than 30 days’ advance written notice, unless either (“Liabilities”) to the extent that we, or our Nominee have Clause 13.3 or 13.4 applies. been negligent, fraudulent or in wilful default. Negligence, 12.3 This Agreement will be terminated in the event that you fraud or wilful default will be judged by reference to fail to maintain your Nominated Account with us. standards prevailing in the jurisdiction of us and the Nominee. The insolvency or winding up of, or occurrence 12.4 We may end your Agreement and close your Account of any other similar event, affecting any party shall not be immediately in the following situations: deemed to constitute negligence, fraud or wilful default a) if you have seriously or persistently broken any of the which shall be judged by reference to their acts and terms of this Agreement including where: omissions in relation to the performance of their duties. • you are, or we reasonably suspect you may be, 9.2 Our liability under this Agreement will not extend to any using or obtaining, or allowing someone else to use Liabilities arising through any acts, events or circumstances or obtain an account, service, investment or money not reasonably within our control, or resulting from illegally; or the general risks of investment in or the holding of assets, including, but not limited to: losses arising from • your Account is, or we reasonably suspect your nationalisation, expropriation or other governmental Account is, being used for an illegal purpose; or actions; any law, order or regulation of a governmental, • you are, or we reasonably suspect you may be, supranational or regulatory body; regulation of the banking, acting fraudulently; or insurance or securities industry, including changes in market • you have not provided us with adequate information rules, currency restrictions, devaluations or fluctuations; required under Clause 20.3; or market conditions affecting the execution or settlement of transactions or the value of assets; and breakdown, failure b) you were not eligible to open your Account or take out or malfunction of any third party telecommunications, this service or cease to be so eligible; computer services or systems. c) if we reasonably consider that by continuing this 9.3 Nothing in this Agreement shall exclude or restrict any Agreement with you: responsibilities which we may have under Financial • we may break a law, regulation, code, court order or Services (Jersey) Law 1998 and any secondary legislation, other duty; or Codes of Practice and guidance notes issued by the Jersey Financial Services Commission pursuant to its powers. • we, or another HSBC Group company may be exposed to action or censure from any government, 10. Your Responsibilities regulator or law enforcement agency; 10.1 You must have and keep open an HSBC Expat bank d) if we have reason to believe that your conduct will account as your Nominated Account for the duration of adversely affect the ability of others to trade or the your Account. terms on which they trade; or 10.2 You agree to the best of your knowledge that you are e) any failure by you or (if there is more than one of you) not resident in a country where there is any restriction any of you to pay monies of whatever nature when due on you holding any Shares. If you become resident in any

6 under this Agreement (including, without limitation, the a) details of the amount due and how it became due; account fee); or b) a request for discharge of the sum due; and f) the filing of a petition of bankruptcy, winding up, or the c) a description of the part or parts of your Shares which commencement of any similar proceedings against you will be sold if you do not discharge the amount in full or (if there is more than one of you) any of you. within seven days. 12.5 If your Agreement is to terminate and your Account is to For the avoidance of doubt, this Clause 15 does not affect close, we will let you know the options available to you. If any other rights we may have to sell Shares under this we do not receive your instructions within 30 days’ notice, Agreement (including, without limitation, our rights under we will sell the Shares within your Account and pay the Clause 11) and the requirements of this Clause 15 shall not proceeds out to you (subject to Clause 12.7). apply to the exercise of any such other rights. 12.6 On the occurrence of any of the events described in 16. Right of set off Clause 12.4, we may cancel any outstanding instruction(s) at our discretion. 16.1 Where we owe you money under this agreement, or any other agreement with us, and you have failed to pay us any 12.7 Upon termination of this Agreement and closure of your amount that you owe us under any agreement that you Account and any withdrawal of Shares, whether or not have with us we may, where regulatory requirements allow, following termination, we reserve the right to settle any use the money that we owe you to reduce or repay the liability incurred by you under this Agreement, or by us on amount you owe to us. your behalf prior to termination. In such circumstances, we also have the right to deduct an amount equal to any 16.2 The right referred to above at clause 16.1 is often referred outstanding account fee from the proceeds of sale of your to as a ‘set off right’. Shares or any lien referenced in clause 16.3, before paying 16.3 We may use our set off right even if the amount you owe such proceeds to you. is dependent upon another event or has not yet become 13. Death due, if we reasonably think that you will be unable to pay us when the amount becomes due. 13.1 In the event of your death, we require formal written notice of death in such manner as we may prescribe from 16.4 Please note we may exercise our set off rights without time to time. This Agreement shall remain binding on your telling you in advance if we reasonably think that you may personal representatives. do something to prevent us from obtaining repayment through set off, or if we have agreed with you we may 13.2 If you are the sole beneficial owner of the Shares and we do so. receive notice of your death, we will act on the instructions of your personal representatives only upon production of a 16.5 We may use our set off right where you have account’s Jersey Grant of Probate or Letters of Administration, unless which are only in your name, as well as joint accounts. an exemption from probate applies and other administrative 16.6 We may also set off amounts that we owe you against arrangements satisfactory to us or our Nominee (including amounts that you owe other companies within the HSBC the grant of indemnities in favour of us or our Nominee) Group and set off amounts other companies in the HSBC have been observed. Group owe you against amounts you owe us, unless 13.3 If you are a joint beneficial owner of the Shares and prevented by insolvency law. we receive notice of your death, we will act only on the 17. Variation of Agreement instructions of the surviving joint beneficial owner(s). 17.1 You agree that we may vary the terms of these Terms 14. Joint Agreements and Conditions without giving prior notice to you in 14.1 If more than one of you has entered into this Agreement circumstances where we consider that the variations are with us, each of you will be jointly and severally liable to us for the benefit of you alone. Where any proposed variations under the terms of this Agreement. This means that each of may be considered to be for the benefit of anyone other you is separately and individually responsible for complying than you, the procedure outlined in clause 17.2 below will with this Agreement including, without limitation, paying be followed. any amounts owed. If one or more of you does not comply 17.2 We may vary this Agreement on giving at least 30 days’ with any of the terms of this Agreement, we can take written notice to you where we have a valid reason to do action against any or all of you singly, or together. so, such variations to take effect on the date specified 14.2 For the purposes of this Agreement, each of you shall be in the notice. If you do not wish to accept the change to regarded as beneficial owner of an equal undivided share of your Agreement, you must tell us before the changes take each and every Share held by us on your behalf. effect and we will treat this as notice from you to end this Agreement and close your Account and transfer holdings 15. Liens free of charge. 15.1 In addition to any lien or other rights to which we may be 18. Third Party Rights entitled under any applicable law, we shall have a general lien over the Shares in respect of all sums properly due and This Agreement does not confer a benefit on any person payable to us by you under the terms of this Agreement. who is not party to it. The parties to this Agreement do not intend that any term of this Agreement should be 15.2 A lien is a right which entitles us to hold on to your assets enforceable by any person who is not a party to it. in our possession where there are sums properly due and payable to us by you under the terms of this Agreement. 19. Proper Law Forum 15.3 Subject to Clause 15.4 below, and without prejudice to This Agreement is governed by and shall be construed in any other rights or remedy which we may have under this accordance with the laws of Jersey. The parties submit to agreement (including under Clause 11 of this Agreement), the non-exclusive jurisdiction of the Courts of the Island we are entitled to enforce the lien described in Clause 15.1 of Jersey. by the sale and disposal of all or any part of the Shares in 20. Your Information such manner and at such price as we may deem expedient, without being responsible for any loss and to apply the net 20.1 Collection, processing and sharing of customer information sale proceeds of the Shares, in or towards payment or the This Clause 20 explains how we will use Customer discharge of any sum or liability owed by you to us. Information. By using the Services, we and members of the 15.4 We will enforce a lien described in Clause 15.1 only if we HSBC Group may use Customer Information in accordance have given 14 days written notice to you containing: with our Privacy Notice.

7 20.1.1 If you appear to be tax resident outside of Jersey, enquiries as to the status of a person or entity, whether then regulations on international tax transparency may they are subject to a sanctions regime, or confirming require us to report certain information about you (and their identity and status. certain connected persons) to the Jersey Tax Authority, 20.3.2 Exceptionally, our Financial Crime Risk Management where your account is held. Under international Activity may lead to us delaying, blocking or refusing agreements to exchange account information, that the making or clearing of any payment, the processing tax authority may transfer this information to the tax of your instructions or application for Services or the authorities of other jurisdictions in which you (or a provision of all or part of the Services. To the extent connected person) may be tax resident. However, permissible by law, neither we nor any other member of irrespective of where it is processed, Customer HSBC Group shall be liable to you or any third party in Information will be protected by a strict code of secrecy respect of any loss (however it arose) that was suffered and security applying to all members of the HSBC or incurred by you or a third party, caused in whole or Group, their staff and third parties holding information in part in connection with the undertaking of Financial on their behalf. Crime Risk Management Activity. 20.1.2 You must ensure that every Connected Person 20.4 Tax compliance whose information (including Personal Data or Tax Information) you (or anyone else on your behalf) You acknowledge that you are solely responsible for provided, or will from time to time provide, to us or a understanding and complying with your tax obligations member of the HSBC Group has been notified of and (including but not limited to, tax payment and filing of agreed to the processing, disclosure and transfer of returns or other required documentation relating to the their information as set out in these Terms before their payment of all relevant taxes) in all jurisdictions in which information is provided. You must at the same time those obligations arise and relating to the opening and direct them to our Privacy Notice and advise them that use of account(s) and/or Services provided by us and/ they have rights of access to, and correction of, their or members of the HSBC Group. Each Connected Personal Data. Person acting in their capacity as a Connected Person (and not in their personal capacity) also makes the same 20.1.3 Where: acknowledgement in their own regard. Certain countries • you fail to provide promptly Customer Information may have tax legislation with extra-territorial effect that we reasonably requested, or regardless of your or any Connected Person’s place of domicile, residence, citizenship or incorporation. Neither • you withhold or withdraw any consents that we we nor any member of the HSBC Group provide tax advice. may need to process, transfer or disclose Customer You are advised to seek independent legal and/ or tax Information for the Purposes (except for purposes advice. Neither we nor any member of the HSBC Group connected with marketing or promoting products have responsibility in respect of your tax obligations in any and services to you), or jurisdiction in which they may arise, including any that may • we have, or a member of the HSBC Group relate specifically to the opening and use of account(s) has, suspicions regarding Financial Crime or an and/or Services provided by us and/or members of the associated risk, we may: HSBC Group. a) be unable to provide new, or continue to provide 20.5 Website and email personalisation all, or part of, any Services to you and reserve When you use a computer or other device to access the right to terminate our relationship with you; websites operated by or on behalf of the HSBC Group and b) take actions necessary for us or a member associated third parties, information may be stored and of the HSBC Group to meet the Compliance accessed on that device: Obligations; and/or • to improve your experience; c) block, transfer or close your account(s) where • to improve the functionality, security and performance permitted under local Laws. of those websites; In addition, if you fail to supply promptly your, or a • to provide you with promotional content; and/or Connected Person’s, Tax Information and accompanying statements, waivers and consents, as may be • to provide us with information about how those requested, then we may make our own judgment websites are used and how users arrive at with respect to your status, including whether you are those websites. reportable to a Tax Authority, and we or other persons In the event that you receive emails sent by or on behalf of may withhold amounts where legally required by any the HSBC Group, such emails may contain technologies to Tax Authority and pay such amounts to the appropriate track for market research purposes whether you opened Tax Authority. those emails and whether you accessed internet links 20.2 Data protection contained within those emails. You agree to information being stored, accessed and used in this way. 20.2.1 Our Privacy Notice explains how we collect, use, disclose, transfer and store your information and also Members of the HSBC Group may also exchange, sets out your rights in relation to your information. analyse and use relevant information about you in the ways described above to ensure that promotional content 20.3 Financial crime risk management activity displayed to you on screen when you use HSBC Group 20.3.1 We, and members of the HSBC Group, are websites is more likely to be relevant and of interest. required, and may take any action to meet Compliance Further information is available on our cookie policy, Obligations relating to or in connection with the site terms and privacy statement at our website detection, investigation and prevention of Financial expat.hsbc.com. Crime (“Financial Crime Risk Management Activity”). Such action may include, but is not limited to: (a) 20.6 Further information and marketing screening, intercepting and investigating any instruction, 20.6.1 To ensure that we carry out your instructions communication, drawdown request, application for accurately, to help us to improve our service and in the Services, or any payment sent to or by you, or on interests of security, we may monitor and/or record your your behalf, (b) investigating the source of or intended communications with us including telephone calls and recipient of funds, (c) combining Customer Information conversations we have with you in our branches. In the with other related information in the possession of any interests of security and for preventing and investigating member of the HSBC Group, and/or (d) making further crime, we may use closed-circuit television in and around

8 our premises for the monitoring and collection of sound Important information and/or visual images. Any recordings remain our sole property. AssetMaster is a nominee service offered by HSBC Expat and is subject to the AssetMaster Terms and Conditions. 20.6.2 We may make and retain copies of passports, driving We are required to tell you that the Terms and Conditions licences or other identification evidence that you provide. of the contract are in English and we will communicate with 20.6.3 We will obtain your written consent before providing you in English. Your Nominated Account will be subject to a banker’s reference about you, however, if we receive our Personal Banking Terms of Business which you will be a request from another financial services institution with given when you apply. whom we hold an investment on your behalf, in accordance Restrictions on sale and issue with these Terms and Conditions, we will provide information required to verify your identity for money AssetMaster is not currently available to residents of laundering prevention purposes. Canada and the United States of America. Please note from time to time we may update the list of restricted countries 20.6.4 If you change your mind at any time about receiving by adding or removing countries where we offer the marketing information via post, telephone, email or any AssetMaster Service. other method, or about participating in market research, then please let us know. Probate 20.7 Miscellaneous AssetMaster is a Jersey Asset for Jersey Probate purposes. 20.7.1 In the event of any conflict or inconsistency If the total value of assets registered in AssetMaster between any of this Clause 20 and those terms in any exceeds £10,000, Jersey Probate would be required before other service, product, business relationship, account the assets could be transferred or sold. Any Jersey estate or agreement between you and us, this Clause 20 shall requires a separate grant of probate in Jersey. If the holding prevail. Any consents, authorisations, HSBC requested is a joint account, title automatically passes to the surviving waivers and permissions that already exist from you in joint account holder and there are no legal formalities (other relation to Customer Information shall continue to apply than obtaining a copy of the death certificate). In Jersey, in full force and effect, to the extent permissible by the personal representative needs to apply for a separate applicable local law. grant of probate in respect of the Jersey estate. It is usually easiest to use a Jersey lawyer to obtain probate because 20.7.2 If all or any part of the provisions of these Terms and they know the procedure and a personal appearance is Conditions become illegal, invalid or unenforceable in required in court. While there are presently no death duties, any respect under the law of any jurisdiction, that shall estate duty, inheritance tax or capital gains taxes in Jersey not affect or impair the legality, validity or enforceability (which could change in the future), Jersey Probate Stamp of such provision in any other jurisdictions or the Duty may be payable. The amount of this Duty will be remainder of these Terms in that jurisdiction. based on the value of your Jersey estate, which will include 20.8 Survival upon termination your investments held within AssetMaster. Further details are available on request. This Clause 20 shall continue to apply notwithstanding your termination, any termination by us or a member of the Applicable Law and Jurisdiction HSBC Group of the provision of any Services to you or the Your contract with HSBC Bank plc, Jersey Branch is closure of any account. governed by the laws of Jersey, as are our dealings with 21. HSBC policy on conflicts of interest you up until the contract is concluded. Issued by HSBC Expat, a trading name of HSBC Bank plc, Jersey Branch, The HSBC Group is a global organisation which provides HSBC House, Esplanade, St Helier, Jersey, JE1 1HS. HSBC a wide range of financial services. As such, it, or a Bank plc, Jersey Branch is regulated by the Jersey Financial company with whom it has an association (“HSBC”), Services Commission for Banking, General Insurance may from time to time have interests which conflict with Mediation, Investment and Fund Services Businesses. its clients’ interests or with the duties that it owes to its clients. These include conflicts arising between the HSBC Bank plc is authorised by the Prudential Regulation interests of HSBC, its associates and employees on the Authority and regulated by the Financial Conduct Authority one hand, and the interests of its clients on the other, and the Prudential Regulation Authority (UK FCA reference and also conflicts between clients themselves. HSBC has number: 114216). UK registered office: 8 Canada Square, established procedures, which are designed to identify and London, E14 5HQ. manage such conflicts. These include organisational and Please note that as this service is provided from Jersey, the administrative arrangements to safeguard the interests rules and regulations which govern this service are primarily of clients. those of Jersey rather than the UK. Further information A key element of this policy is that persons engaged in about the regulatory regime applicable to this service is different business activities involving a conflict of interest available on request. HSBC Bank plc, Hong Kong Branch, must carry on those activities independently of one another. is licensed by the Hong Kong Monetary Authority as an Where necessary, Authorised Institution in Hong Kong. We are required to advise you that if you undertake Deposit or Investment HSBC maintains arrangements, which restrict the flow of Business with any non UK members of the HSBC Group, information to certain employees in order to protect its including our offices in the Channel Islands and the Isle clients’ interests and to prevent improper access to client of Man, you will not be protected from the benefit of the information. HSBC may also deal as Principal for its own rules and regulations made under the UK’s Financial Service investment account and may be matching transactions and Markets Act 2000, including the UK Financial Services with another client. Procedures are in place in order to Compensation Scheme. Deposits made with our office in protect the client’s interest in this instance. In some cases, Jersey are not protected deposits under the Hong Kong HSBC’s procedures and controls may not be sufficient to Deposit Protection Scheme and are not protected by ensure that a potential conflict of interest does not damage such scheme. a client’s interests. In these circumstances, HSBC may consider it appropriate to disclose the potential conflict to HSBC Bank plc, Jersey Branch, is a participant in the Jersey the client and obtain the client’s formal consent to proceed. Bank Depositor Compensation Scheme. The Scheme However, HSBC may decline to act in any circumstance offers protection for eligible deposits of up to £50,000. where there is residual risk of damage to the interests of The maximum total amount of compensation is capped any client. at £100,000,000 in any 5 year period. Full details of the

9 scheme and banking groups covered are available on the states of Jersey website www.gov.je/dcs, or on request. Complaint Process We will always try to resolve your concerns there and then. If this is not possible, we will fully investigate all the issues you have raised by speaking with you or writing to you. We will acknowledge your complaint within 48 hours and, in most cases, resolve your concerns when we contact you. Occasionally, however, it may be necessary to investigate your complaint further, but we aim to resolve your complaint within 5 working days for general banking related complaints and within one month for investment related complaints. If this is not possible, you will be advised either by telephone or in writing. We hope that you will not need to progress beyond this first step, as we are confident that we can resolve any concerns you raise with us to your satisfaction. What can you do if you’re not satisfied with the response to your complaint? Clearly, we always want to be able to resolve your concerns. If you consider that our response to your complaint still does not fully address your issues, please let us know so we can understand if there is anything more we can do. However, where you are not satisfied with our final response to your complaint, you can refer your concerns to the Channel Islands Financial Ombudsman (CIFO). If you want to contact the CIFO about your complaint, you will need to do this within six months from the date of our final response or they may not be able to review your complaint. In addition, you must also contact CIFO within 6 years of the event complained about or, if later, 2 years of when you could reasonably have been expected to become aware that you had a reason to complain. You can contact the CIFO at: Channel Islands Financial Ombudsman, P O Box 114, Jersey, Channel Islands, JE4 9QG Website: www.ci-fo.org Email: [email protected] Jersey local phone: +44 1534 748 610 Guernsey local phone: +44 1481 722 218

To help us to continually improve our service, and in the interest of security, we may monitor and/or record your telephone calls with us. HSBC Expat is a division of HSBC Bank plc, Jersey Branch: HSBC House, Esplanade, St. Helier, Jersey, JE1 1HS. HSBC Bank plc, Jersey Branch is regulated by the Jersey Financial Services Commission for Banking, General Insurance Mediation, Investment and Fund Services Business. HSBC Bank plc is registered and incorporated in England and Wales with limited liability, number 14259. Registered office 8 Canada Square, London, E14 5HQ. © HSBC Bank plc, Jersey Branch. 2018. All Rights Reserved. 180622/JH/256

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