Our corporate culture is one that aims to treat customers fairly so that they are unlikely to be in a position where they could suffer any disadvantage as the result of a conflict of interest.
We have:
We regularly review our conflict policy to ensure that it is, and remains, suitable and appropriate for the Company’s business.
The Financial Services Compensation Scheme (FSCS) is the UK’s compensation fund of last resort for investors of authorised financial services firms.
It may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This is usually because it has stopped trading or has been declared in default. The FSCS is independent of the government and the financial industry. It does not charge individual consumers for using its service.
Meteor Asset Management Limited (MAM) and Meteor Investment Management Limited (MIM) are covered by the FSCS. Investors may be entitled to compensation from the FSCS in the event that MAM or MIM were declared to be in default and you have a valid financial claim against the company which it is unable to meet.
The fact that an investment loses value would not, in itself, lead you to have a valid claim against MAM or MIM.
In the event that a counterparty who has issued the securities for a structured product fails and is unable to pay the amounts due from the securities, this would not in itself give you a valid claim against MAM or MIM and you would not be able to make a claim to FSCS.
In the event that a Deposit Taker in respect of any structured deposit fails and is unable to pay the amounts due from the deposit, you will be able to make a claim to FSCS.
If a bank, with whom you have placed a deposit, fails and is unable to pay the amounts due to you, then you may be able to make a claim to FSCS, subject to the scheme's limits and rules. Should the bank not be a UK regulated and authorised bank, then you may be entitled to claim under the relevant deposit protection scheme in the country in which the bank is authorised and regulated.
During the period between the receipt of your money intended for an investment in a structured product or to be allocated to a savings product until the purchase of the securities or allocation to a savings product, your money will be held as Client Money. This is also the case for the period from the maturity or early redemption of a security or a savings product until the proceeds are reinvested, transferred or returned to you. We currently use a range of banks to hold Client Money. You may be eligible to make a claim to FSCS if any of the banks we use or may use in the future, becomes insolvent whilst holding Client Money.
In this event, the compensation limit is currently £85,000 per person and this applies to all deposits you hold with the insolvent bank and any other member of its group.
In the event that a counterparty fails to meet its obligations to pay the amount due from the Securities, this will not in itself entitle you to compensation from the FSCS.
In such circumstances, you may be able to make a claim to the FSCS if you have a valid complaint against Meteor or your adviser in respect of the investment and your adviser or Meteor were unable to meet an obligation to redress your loss. For example, if an adviser did not advise you properly about the investment and is then unable to pay you the compensation for your loss and has been declared in default.
For investments covered by the Scheme, the compensation limit is currently £85,000 per person.
The Deposits arranged to provide the returns for a structured deposit plan are established through a bare trust. We will notify the Deposit Taker that the Deposits we make represent deposits made by and belonging to the individual Plan holders. Therefore, investors may be entitled to compensation from the FSCS in the event that the Deposit Taker is declared to be in default and is unable to pay the amount due from the fixed term deposit and where the Deposit Taker is a participant in the Financial Services Compensation Scheme.
Whether investors are eligible to make a claim under the FSCS will depend on various factors, including the size of the relevant Deposits and the laws and regulations applicable to the relevant financial institution (which may vary depending on where they are based). When Meteor act as bare trustee it may, depending on the laws, regulations and the facts at the time, make a claim on an investor’s behalf.
For deposits, the compensation limit is currently £85,000 per person and this applies to all deposits held with the Deposit Taker and/or any other deposit takers included under the same registration on the Financial Services Register.
The Deposits arranged through the savings platform are established through a bare trust. We will notify the banks with which deposits are held that the deposits we make represent deposits made by and belonging to individual customers. Therefore, savers may be entitled to compensation from the FSCS in the event that a bank is declared to be in default and is unable to pay the amounts due from the deposits.
For deposits, the compensation limit is currently £85,000 per person and this applies to all deposits held with the Deposit Taker and/or any other deposit takers included under the same registration on the Financial Services Register.
Customers should be aware that whether they are eligible to make a claim under the FSCS will depend on a variety of factors and that there are limits to the amount of compensation the FSCS will pay.
Entitlements would depend on the type of business and the circumstances of the claim. The information above is only a summary of the protection provided by the Scheme.
You can get more information about compensation arrangements from the FSCS.
Meteor Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 459325. Company number 05712610.
Meteor Investment Management Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 496880. Company number 6802633.
All companies are registered in England and their registered address is 24/25 The Shard, 32 London Bridge Street, London, SE1 9SG.
Meteor is a trading name of Meteor Asset Management Limited. Information about Meteor can be found on the Financial Services Register (Register number: 459325).
The information contained on this website is based on our understanding of rates of tax, current legislation, regulations and practice, all of which are subject to change in the future and may be applied retrospectively. This information does not constitute financial, investment or tax advice. If you want such advice, please contact an authorised financial adviser and/or tax adviser.