Nothing in this Agreement will exclude or restrict any liability which the Local Manager has under the Financial Services and Markets Act 2000, FSA Rules or Regulatory System (as defined by FSA Rules) in relation to the Investment Adviser and which may not be excluded or restricted thereunder.
The Local Manager maintains procedures in accordance with FSA Rules for the effective consideration and handling of client complaints.
The Investment Adviser and its affiliates shall for all purposes herein be deemed a Professional Client as defined under the rules and guidance promulgated by the Financial Services Authority (hereinafter referred to as the "FSA Rules").
In securing Best Execution, the Local Manager will take reasonable care to obtain the best available price in accordance with FSA Rules.
The Investment Adviser should be aware that professional clients will not be entitled to certain protections afforded by the FSA Rules to retail clients.