Overseas Custodians. You should note that when we arrange for a custodian to hold your investments overseas there may be different settlement, legal and regulatory requirements than those applied in the UK. Where your assets are held in a jurisdiction outside the European Economic Area your rights relating to those assets may differ from the rights you would enjoy if those assets were held within the European Economic Area. The extent to which we are responsible for the acts or omissions of such a third party may vary depending upon which jurisdiction that third party is located in, as may the consequences of that third party’s insolvency. It is possible that designated investments belonging to you may be stored in a pooled account. Designated investments belonging to you may be held by a third party in jurisdictions in which it is not possible for such assets to be separately identifiable from the assets of others. In the event of the insolvency of such a third party, your ability to recover your assets may be less than if your assets were separately identifiable. Where your assets are held within the European Economic Area you may under certain circumstances have rights to compensation in accordance with the Investor Compensation Directive. Where your assets are held by a depositary, such depositary may have a security interest, or lien over, or right of set-off in relation to, those assets.
