MB Capital Limited

Limits on what they may do

• This firm may handle your money in passing but must not hold it, so payments should go to the product provider, never to a personal account.
• The Firm must not hire any new financial advisers, must not onboard any new clients, and must not dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets – effective 28/02/2025

  Restriction on Hiring New Financial Advisers 1. The Firm must not, without the prior written consent of the Authority, hire new financial advisers with effect from the Effective Date. Restriction on Onboarding New Clients 2. The Firm must not, without the prior written consent of the Authority, onboard new clients with effect from the Effective Date. Asset Restriction 3. 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. 4. 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 £5,000 (or £3,000 in the case of legal expenses). 5. 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. The transfer or disposal of any of the Firm’s or its fund’s investment management agreements to any third party, provided that (a) the Firm gives the Authority no less than five working days’ prior written notice of any such transfer or disposal, such notice to include details of the investment management agreements to be transferred or disposed and the details of any counterparty, and (b) the Authority provides its written consent to the Firm for such a disposal. e. 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, f. Transactions giving effect to instructions initiated by customers. 6. 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 5(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).