IT IS VERY IMPORTANT THAT YOU READ THIS WARNING AND DISCLAIMER BEFORE PROCEEDING, AS IT EXPLAINS CERTAIN LEGAL AND REGULATORY RESTRICTIONS APPLICABLE TO ANY INVESTMENT IN OUR PRODUCTS.

BY CLICKING THE 'ACCEPT' OR 'DECLINE' BUTTON AT THE END OF THIS PAGE YOU ACKNOWLEDGE THAT THE INFORMATION BELOW HAS BEEN BROUGHT TO YOUR ATTENTION, AND BY CLICKING 'ACCEPT' YOU AGREE TO BE BOUND BY THE TERMS HEREOF.

The information contained in this website is solely for the use of persons who are resident in the United Kingdom and are subject to UK tax and is not intended for distribution in any other jurisdiction. Persons who are not resident in the United Kingdom should not proceed. By proceeding, you are representing that you are not resident in, or a citizen of, any jurisdiction outside the United Kingdom. Under no circumstances should any information contained in this website be regarded as an offer or solicitation to deal in investments in any other jurisdiction.

The distribution of information contained on our site in certain countries may be restricted by law and persons who access it are required to inform themselves and to comply with any such restrictions. This information does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Persons interested in acquiring any investment should inform themselves as to: (i) the legal requirements within the countries of their nationality, residence, ordinary residence or domicile for such acquisition; (ii) any foreign exchange control requirement which they might encounter on the acquisition or sale of investments; and (iii) the income tax and other tax consequences which might be relevant to the acquisition, holding or disposal of any investment.

Nothing contained on our site constitutes investment, legal, tax or other advice, nor is it to be relied upon when making investment or other decisions. The information on our site is provided solely on the basis that you make your own investment decisions. You should obtain relevant and specific professional advice before making any decision to enter into an investment transaction.

Please note that the value of investments and the income derived from them may fluctuate and you may not receive back the amount originally invested. Past performance may not be repeated and should not be seen as a guide to future performance.

Where this website includes information that contains an indication of past or future performance, SCM PRIVATE has ensured that such indications comply with the FSA Rules. You are not certain to make money from your investments and you may lose money. Exchange rates may cause the value of overseas investments and the income therefrom to rise and fall. The levels and bases of and reliefs from taxation may change. Any tax reliefs referred to are those currently available and their value depends on the circumstances of the individual investor. Investors should consult their own tax adviser in order to understand any applicable tax consequences.

Although reasonable care has been taken to ensure that the information set out herein is accurate, no representation or warranty, express or implied, is made as to its accuracy or completeness. In particular, no representation or warranty is given as to the accuracy or completeness of information supplied by third parties. SCM PRIVATE accepts no liability for any errors or omissions herein whether by itself or its affiliates or by any third party. Also, information on this website may be changed without prior notice, although we will endeavour to notify you where possible.

To the extent permitted by law, we, our affiliates and other third parties connected to us hereby expressly exclude all conditions, warranties, representations and other terms which might otherwise be implied by statute, common law or the law of equity and any liability for any direct, indirect or consequential loss or damage of any kind incurred by any user in connection with our site or in reliance on the information or opinions contained in it, or in connection with the use, inability to use, or results from the use of our site or any websites linked to it or materials posted on it. This does not affect our liability for any loss or damage which cannot be excluded or limited under applicable law. The internet is not a completely reliable transmission medium and neither we nor any of our affiliated companies accept any liability for any data transmission errors such as data loss or damage or alteration of any kind or for the security or confidentiality of information transmitted via the internet to or from us or any of our affiliates.

SCM PRIVATE is authorised and regulated by the Financial Services Authority, and has issued and approved the information in this website.