Regulation

OLS Legal Financial Tax is a trading name of OLS LFT Spain SL and OLS LFT UK Ltd hereon OLS,  Authorised Introducer to UK and EU Licenced and Regulated Financial and Investment Adviser firms.

Financial or Investment Advice is provided either by our advisers under the licence of the regulated firms that we introduce to, or directly by advisers in the firms that we are authorised to introduce to.

Spain

Advice relating to insurance-based investment product is regulated under the EU Insurance Distribution Directive, (IDD), and the advice that we give will be issued under an appropriate IDD licence.

Non-insurance-based investment advice and advice relating to pension investments is regulated under the EU Markets in Financial Instruments Directive (MiFID).

We arrange advice that falls under MiFID regulation through directly authorised advisers of the MiFID licenced firm that we are authorised to introduce to.

United Kingdom

Financial and Investment Advice is regulated by the Financial Conduct Authority in the UK.  Advice to be given in the UK will be arranged by introduction to the FCA licenced firm that we are authorised to introduce to.

OLS are committed to fully comply with the relevant Laws and the Conduct of Business rules as outlined by the regulators. Advisers at OLS are required to comply fully with the Code of Conduct of the relevant regulator when providing or arranging advice.

We will complete an initial assessment of your situation to determine the advice that you require and therefore which licence and firms the advice will be issued under.  You will be required to sign a Client Agreement with the firm that holds the regulatory licence.  The Client Agreement will set out the terms under which the regulated advice will be provided.  Your consultant or adviser will provide you with details of the firms that we introduce to.

Products & Advice

OLS Financial Consultants and Adviser are independent qualified advisers with capacity to provide Financial Advice, assist clients with the purchase or sale of insurance, life assurance, savings, pensions, and arrange investment advice.

OLS is an independent financial services intermediary and as such, offers products and services from the whole of the market via the providers available in the country in which you reside and within the scope of the licences held by the firms that we are authorised to introduce to.

We are able to offer you a wide variety of products to suit your needs and circumstances, and in association with the firms that we introduce to, act as whole of market independent advisers.

We do not act as the tied agent of any one financial provider, nor do we own the contracts or policies we advise upon and that are bought by our clients. We provide financial advice on the merits of financial planning, purchasing, selling or subscribing to financial products, and making investments.

We may receive commissions, trail fees, and share of fees from insurance & pension companies, banks, fund managers, and other providers of financial services as a result of arranging transactions with them.

The Service We Provide

OLS will seek to undertake a thorough review of your circumstances, before making recommendations that we believe will best suit your interest at the time, based on the information you provide.

We therefore ask for your co-operation in providing us with any personal and financial information requested, which may be relevant to your needs and / or objectives. This will assist us in our endeavours to provide you with the best possible recommendations and services in order to satisfy your objectives.

Confidentiality

OLS and all associated staff and representatives adhere to a strict confidentiality policy which requires us to treat all information about you in the strictest confidence.

Client Identification & Source of Funds

We are required to establish the identity of all applicants and beneficiaries and may therefore disclose information provided by you in connection with your application to third parties for this purpose. We are also required to identify the source of any money, to comply with local money laundering regulations.

Code of Conduct

OLS is required to comply with the Law, Conduct of Business Rules and with the regulators Code of Conduct and the appropriate company policy and procedures relating to the different areas of business being conducted.

OLS will treat all personal information as confidential. We may allow our auditors, insurance companies and regulators access to your records for regulatory purposes when this is necessary and / or release this information when required to do so by law.

We are obliged to keep records of all our business transactions for at least 6 years following our association with our clients. You, or someone acting on your behalf, may inspect our contract notes, vouchers and entries in books or computer records relating to your transactions. We reserve the right to withhold copies of documents that would allow you access to information relating to other clients. We also reserve the right to make a charge for this service.

Conflicts of Interest

OLS have a strict Conflict of Interest policy to ensure that the material interests of Introducers of the company and, or the company itself is never to supersede the interests of clients.

When dealing with a number of clients and, or, taking multiple orders and, or instructions on any given, product and, or, account, OLS will ensure that orders are dealt with fairly and in due time.

If the OLS has any interest in any of the products and or accounts being recommended, these interests will be disclosed to the client before, or at the time the recommendation is being communicated to the client, in any case before any transaction takes place.

Client Money

OLS does NOT handle client monies. Therefore, we will insist that ALL monies being invested by cheque or direct transfer, will be made payable directly to the regulated product provider as appropriate.

In the unlikely event that you issue a payment to us, the payment will NOT be accepted and will be returned at the earliest opportunity. In the event of this happening, we will not be responsible for any loss of any kind.

Transaction Instructions

Where OLS is required to verify your identity in accordance with the Anti Money Laundering Regulations. No transactions will be made until such verification has been obtained.

To avoid possible misunderstandings, we have a policy that clients should always follow up any verbal instructions in writing. Action will only take place once we have received written instructions. We reserve the right to refuse to accept instructions. In the event that we take this course of action, we will provide you with our reasons why.

Existing Arrangements

We cannot accept responsibility for advice given to you by previous advisers, even though we might take over from them the role of advising on your existing arrangements.  We do, however, have a responsibility to review your current portfolio and advise you if we believe that changes in that portfolio need to be made.

If we believe that the existing portfolio is inappropriate, it may be necessary to recommend a course of action which would not have been recommended had the portfolio not already been in place. Any such recommendations should therefore be viewed in the context in which they are made.

Charges for Services

When we make any recommendations to you, all costs and charges will be fully explained verbally and documented in writing.  Should we agree that our services to you are conducted on a fee basis, the cost of those fees will be stated and agreed before any work is undertaken. Before any recommendations are taken up by you, or within a reasonable time of any transaction being conducted following advice given, a full suitability letter will be provided explaining why the product was chosen.  The costs, charges and our fees will be clearly detailed in that letter.

Reviews & Ongoing Service

You have a right to a periodical review to monitor the performance of your portfolio and other products and thus consider the continued suitability of your portfolio and / or other products. We will be happy to conduct these reviews at your request or include these as part of a contractual ongoing service.

Investments in General

By their very nature, all financial opportunities have varying degrees of risk. Whilst there are many different levels of risk, from low to extremely high, there is always risk. Therefore, you, as an investor, should be aware of this and the fact that the value of investments in all risk categories can fall as well as rise and it is possible that you may not receive back the original capital invested.

Documents

All insurances, investments and other products arranged by us for you will be registered in your name unless you first instruct us otherwise in writing.

We shall forward all policy documents and certificates of ownership to you as soon as possible after we receive them. Where a series is required to be completed, we will retain all documents until the series is complete before sending them to you. It is company policy not to provide a “Hold all mail” facility.

Quality Control

From time to time, compliance procedures of the firms that we introduce to may require them to contact individual clients to confirm that they have received services from OLS that comply with their company standard policy and procedures. You may be approached either via telephone, or by letter and you will have the opportunity to decline from answering any or all of the questions that would be put to you.

Complaints

If you wish to register a complaint, please contact OLS in the first instance in writing by email to: compliance@legalfinancialtax.es or by post to OLS, PO Box 1474, Luton LU1 9UR United Kingdom / Apartado 17 La Cala de Mijas 29649 Malaga Spain or by telephone on (+34) 952 91 21 89. Your complaint will be acknowledged, and you will be informed of our formal complaints procedures.

Data Protection

General Data Protection Regulation GDPR provides that institutions are prohibited from disclosing any personal information about a customer to any third party without the explicit permission of the customer. It also provides that all information collected must be relevant and useful for the application.

We will not share your information with any firm that we are an Authorised Introducer to unless you have given your consent in writing by signing their Client Agreement.

Termination

You, or we, may terminate our authority to act for you at any time, without penalty and without prejudice to the completion of transactions already initiated on your behalf.  This termination must be conveyed in writing.

Acceptance of Terms

In accepting these terms, you are consenting to us processing and holding your data. This data can be both personal and sensitive in nature. Data will only be processed in relation to the services we provide now and in the future. You are also confirming that you have read and understood these terms. You agree to and accept these terms when you submit the Fact Find questionnaire to us https://legalfinancialtax.es/fact-find-atr/.  A copy of these terms can also be signed online here: https://legalfinancialtax.es/terms-of-business-sign