INSPIRING WEALTH LTD

Limits on what they may do

• The Firm must not onboard any new clients, accept any new monies or assets from existing clients, charge existing clients any ad-hoc fees, and must not dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets.

  Restriction on Onboarding New Clients 1. The Firm must not, without the prior written consent of the Authority, onboard any new clients. Restriction on Charging fees 2. The Firm must not, without the prior written consent of the Authority, charge existing clients any fees other than fees included in the Firm’s ongoing service proposition. For avoidance of doubt, the Firm must not charge existing clients any ad-hoc fees for any service provision. Restriction on Accepting New Monies from Existing Clients 3. The Firm must not, without the prior written consent of the Authority, accept monies from existing clients (including any monies for work with potential clients). Asset Restriction 4. The Firm must not, without the prior written consent of the Authority, take any action which has, or may have the effect of disposing, withdrawing, transferring, dealing with or diminishing the value of any assets it holds or receives, for itself or on behalf of another (whether in the United Kingdom or elsewhere). For the avoidance of doubt, only the Firm can seek such written consent from the Authority (any such request to be accompanied by appropriate supporting evidence) pursuant to the terms of this Requirement. 5. The Firm may continue dealing with or disposing of any of its own assets in the ordinary and proper course of business provided that the sum or value of such dealings or disposals, whether as a single transaction or a combination of related transactions, does not exceed £2,000. 6. For the purposes of Requirement 4 above, the following would be in the ordinary and proper course of business: a. Any and all fees incurred or paid in exchange for professional advisory services. b. Any income or sums collected and received by the Firm on behalf of any third parties and which are owed to such third parties. c. Any and all salaries of the Firm’s staff, excluding its Director or SMF, where such salaries have been agreed prior to the imposition of the Requirements. d. Payments of funds to the Firm’s suppliers or other third parties in the ordinary course of business and in satisfaction of the Firm’s contractual and legal obligations. e. Transactions giving effect to instructions initiated by customers. 7. For avoidance of doubt, for the purposes of Requirement 4 above, the following payments shall not be regarded as payments in the ordinary and proper course of business: a. Subject to Requirement 6(c) above, any payment to the Firm’s controllers, shareholders, directors, officers, employees or any connected persons (which shall include any management or performance fees). b. The making of any capital distribution or payment of any dividend. c. The making of any gift or loan by the Firm to any party or d. The entry into any financial restructuring, sale or reorganisation of any part of the Firm (whether share or asset based).