Pello Capital Limited

Limits on the record

• The Firm must not carry on any regulated activities or take any action to diminish the value of its own assets - effective 15/11/2022

  Requirement 1: Restriction on activities: Pello must not, without the prior written consent of the Authority, carry on any regulated activities for which it has a Part 4A permission (other than to facilitate the transfer of clients to other appropriate authorised firms). Requirement 2: Assets restriction 1) Pello must not, without the prior written consent of the Authority, take any action which has, or may have, the effect of disposing of, withdrawing, transferring, dealing with or diminishing the value of its own assets. 2) Pello 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 £10,000 in the case of legal expenses). 3) For the avoidance of doubt, for the purposes of sub-paragraph (3) above, the following would be in the ordinary and proper course of business: a) Any and all professional fees incurred or payments made on account of the same, including but not limited to legal expenses; b) Any amounts due to be paid to creditors for sums incurred prior to the imposition of the Requirements, including but not limited to suppliers’ fees and sums owing to HMRC; c) Any income or sums collected and received by Pello on behalf of any third parties and which are to be paid to such third parties; or d) Any and all salaries of Pello staff, including to its Directors, Non-Executive Directors, contractors or any other employees, where such salaries have been agreed prior to the imposition of the Requirements. 4) For the avoidance of doubt, for the purposes of sub-paragraph (3) above, the following would not be in the ordinary and proper course of business: a) The making of any distribution to Pello’s shareholders whether by way of capital distribution or dividends; b) The payment of unusual or significant amounts to Pello’s shareholders, Directors, officers, employees or any connected persons; c) The making of any gift or loan by Pello to any party; or d) The entry into any financial reconstruction, sale of any part of Pello (whether share or asset based) or reorganisation. 5) Sub-paragraphs (2) and (3) are assets requirements within the meaning of section 55P(4)(a) of the Act. Requirement 3: Retention and notifications Pello is also subject to requirements to retain books and records and notify affected parties of the restrictions and requirements.

• 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.