PIL definition
Examples of PIL in a sentence
Any complaint by the Manager or any Fund should be sent to the Compliance Officer of PIL.
In the absence of willful misfeasance, bad faith or gross negligence on the part of the Sub-Advisor, or reckless disregard of its obligations and duties hereunder, the Sub-Advisor shall not be subject to any liability to the Manager, PIL, any Fund or to any shareholder of any Fund, for any act or omission in the course of, or connected with, rendering services hereunder.
The Manager or PIL, as the case may be, shall, in its sole discretion, determine which Funds will have an Allocated Sleeve and the amount of assets allocated from time to time to each such Allocated Sleeve; provided that, with respect to any Fund, the Trustees of such Fund must have approved the use of the Sub-Advisor prior to the creation of an Allocated Sleeve for such Fund.
PIL has in operation a written procedure in accordance with FCA rules for the effective consideration and proper handling of complaints from customers.
The Manager and any Fund is also entitled to make any complaints about PIL to the Financial Ombudsman Service established by the FCA.