Common use of Execution Only Clause in Contracts

Execution Only. If you have not completed our Financial Questionnaire, you will be deemed to be trading on an execution-only basis. You will therefore not benefit from the protections of the FSC rules relating to suitability, which would otherwise require GAM to ensure that a product is suitable for you when taking into account your financial situation and your investment objectives. We will accept no responsibility for advising you as to the merits of any investment or transaction. We do not accept responsibility on a continuing basis for advising on the composition of your account or portfolio. You will still benefit from the protections of the FSC rules relating to appropriateness that requires GAM to ensure that a complex investment service is appropriate for you when taking into account your knowledge and experience in the relevant investment field.