WESTMINSTER WISE LIMITED

Limits on what they may do

• Scope of permitted advice

  SCHEDULE This Schedule sets out the terms of the Requirements (the “Requirements”) to be imposed on the Firm pursuant to section 55L(5)(a) of the Act with immediate effect upon the firm becoming Part 4A authorised. For the avoidance of doubt, this is a voluntary requirement (“VREQ”) on Westminster Wise Ltd's (“WWL” or the “Firm”) permissions. Requirements Scope of permitted advice 1. WWL’s permission to carry on the regulated activity of advising on investments is limited to advising on the selection of investments held in or to be held in an employer’s workplace personal pension scheme (including, for the avoidance of doubt, a FSAVC). File checking 2. For clients where there are fewer than 1000 underlying customers, WWL shall conduct file review checking at a minimum of 100 files per client. If there are fewer than 100 underlying customers per client, WWL shall conduct file review checking on 100% of such files. 3. For clients where there are greater than or equal to 1000 underlying customers, WWL shall conduct file review checking at a minimum rate of 25% of files per client. Effective date 4. The Requirements in this application are to take effect immediately upon the firm becoming authorised and upon their acceptance by the Authority, as notified to the Firm via email. 5. The Requirements will remain in effect until the Authority approves an application by the Firm to have these requirements removed, having demonstrated to the Authority’s satisfaction that it is continuing to satisfy Threshold Conditions in relation to all the regulated activities for which it has Part 4A permission.