Introduction

'Sharenet', 'Sharenet LABS', 'Sharenet Securities', 'Sharenet Wealth' or 'we' refers to one or more of the companies in the Sharenet group that operate in South Africa.

'You', 'your' or 'yourself' refers to the user of the Sharenet website ('site'), and as the context requires, may be a reference to any client or potential client of Sharenet, or any financial adviser, representative, juristic representative and or introducing broker, who act on behalf of such client.

These Terms & Conditions ('Terms') become effective when you access this site for the first time and constitute a valid and binding agreement between Sharenet and yourself. The current version of these Terms governs our respective rights and obligations each time you access this site. If you do not agree to these Terms, please do not make use of this site.

By using the Services, you are confirming your consent to be bound by the terms of this Agreement. If you do not agree, Sharenet is not willing to provide you with access to the Services and you should immediately discontinue your use of the Services. You agree that Sharenet may modify this Agreement at any time in its sole discretion and without prior notice to you. Such changes will be posted online and will be effective upon posting.

You should review this Agreement periodically to ensure familiarity with its then-current terms and conditions.

Your continued use of the Services shall constitute your acceptance of this Agreement and your continued use of the Services following any modification of this Agreement shall constitute your acceptance to the Agreement, as amended. If you do not agree to the changes, you must notify Sharenet in writing or by telephone of your refusal and discontinue your use of the Services.

Sharenet is fully committed to safeguarding your privacy online or otherwise and the success of our business depends upon our ability to maintain the trust of our clients. As part of our day to day business operations we collect certain personal information about our clients. This privacy policy aims to provide a summary of the type of information we collect and how the information is used. The policy does not cover any external third party websites that may be accessed through the links provided on our website.

This policy complies with Section 51 of the Electronic Communications and Transactions Act, 2002.

Capture and Use of Information

Sharenet (Pty) Ltd is the sole owner of the information collected from visitors to our site. We will not sell, share, rent or disclose this information to other parties in ways different from what is disclosed in this statement.

We collect two types of information from our clients and visitors to our website:

• Personal information which includes but is not limited to our client’s name, residential address, date of birth, e-mail address, employment details and information relating to your financial circumstances; and
• Traffic pattern information relating to the visitors to our website.

The personal information of a client is collected at the time of applying for a Sharenet service. Sharenet will limit the collection of personal information to what is necessary in order for us to provide the client with the required products and services.

Sharenet may also collect other information from time to time, for example by client surveys which may be used for research and feedback purposes to improve the services and products we offer.

Sharenet collects traffic pattern information such as information on the pages the visitors to our website access and how many users log into our platform(s) on a daily basis. This kind of information is only used in an aggregated form.

In some instances, we may pass information to third parties involved in the relevant Sharenet Service (such as stock brokers who you specifically sign up with). You will generally know if such a transfer of your information happens.

You have the right to request that we erase or delete your personal information. However, this right is limited. We will not retain your personal information for longer than is necessary for the purpose for which it was collected or processed

Material you post on interactive forums or chatrooms in Sharenet services will be available to others using the Service.

Disclosure of your information

Information collected may be disclosed to law enforcement agencies and other relevant organisations for crime detection and prevention purposes.

Where applicable, Sharenet may exchange information or share the personal data of the client with the introducing brokers with whom the client may have an agreement and where the client has consented to the disclosure of that information. Sharenet does not sell any personal data to third parties.

Use of cookies

A cookie is a small data file that most major websites write onto the visitor’s hard disk for record keeping purposes when the website was visited. Cookies are used by Sharenet to measure activity on the website and to improve the visitor’s experience, for example by remembering the passwords and viewing preferences, thus allowing the user to visit various member-only parts of the website without re-registering. Sharenet also use cookies to measure activity on our website and make improvements based upon which areas are popular and those which are not.

Sharenet does not use cookies to retrieve information which was not originally sent in a cookie and does not use information transferred through cookies for any direct promotional or marketing purposes without consent. Sharenet may share traffic pattern information with third parties for both advertising and promotional purposes.

IP Addresses

Sharenet uses IP addresses to analyse trends, track visitor’s movements, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information. Based on the aggregated information gained from cookies and IP addresses, statistical reports are generated for use by Sharenet management and to aid in selling advertising in our free areas. Aggregate information will never identify you, it only defines site visitors in general terms.

Security

Sharenet takes every precaution to protect our users’ information.

We will, on an ongoing basis, continue to review our security controls and related processes and technology to ensure that your personal information is secure and used only in line with what is set out in this notice.

Where we interact with third parties and share personal information, we take reasonable steps to impose appropriate security, privacy and confidentiality obligations on those recipients as processors of personal information. This is to ensure that personal information that we are responsible for, is kept secure and only processed lawfully.

See our Security Notice.

Use of your information collected

Sharenet uses both the personal and aggregated information that is collected to:

• improve the content and layout of the website;
• notify clients about updates to the website; and
• send out newsletters or information for marketing purposes about product and services offered that are similar or related to the products and services provided or previously provided to the client.

Should the client not wish to receive such communications, please email: support@Sharenet.co.za

Sharenet may make changes to this privacy policy from time to time for any reason and will post an updated version of this policy on this website.

Accuracy of your personal information

We endeavour to ensure that the personal information we hold about you is accurate and up to date. If the data we hold about you proves inaccurate or outdated, we will correct it upon your request.

In the event that there are changes to your personal information such as a change in contact details or a residential address, please contact support@sharenet.co.za to update your records.

Notification of Changes

If we decide to change our privacy policy, we will post those changes on our Homepage so our users are always aware of what information we collect and how we use it.

PAIA (Promotion of Access to Information Act) was passed into law to give effect to the constitutional right of access to information that is held by a private or public body and that is required for the exercise or protection of any rights. The Sharenet Group Limited (Sharenet) is a private body as defined in PAIA. Sharenet is bound by PAIA and will process any request made in terms thereof.

Any person who wishes to be given access to information that belongs to Sharenet or another customer/supplier of Standard Bank must follow the procedure set out below.

1. INTRODUCTION TO THE COMPANY (PTY) LTD

The Company conducts business as Sharenet (Pty) Ltd. We are an authorised financial services provider in terms of the Financial Advisory & Intermediary Service Act.

Our FSP license numbers for are as follows:

Sharenet Securities (Pty) Ltd : FSP number: 28430
Sharenet Wealth (Pty) Ltd : FSP number: 41688

2. COMPANY CONTACT DETAILS

3. THE ACT

3.1 The ACT grants a requester access to records of the Company, if the record is required for the exercise or protection of any rights. If a public body lodges a request, the public body must be acting in the public interest.

3.2 Requests in terms of the ACT shall be made in accordance with the prescribed procedures, at the rates provided. The forms and tariff are dealt with in paragraphs 6 and 7.

3.3 Requesters are referred to the Guide in terms of Section 10, which has been compiled by the South African Human Rights Commission, which will contain information for the purposes of exercising Constitutional Rights. The Guide is available from the SAHRC.

Division : PAIA UNIT
Physical Address : Braampark Forum 3
33 Hoofd Street, Braamfontein
Postal Address : Private Bag 2700, Houghton, 2041
Phone Number : 011 877 3600
Fax Number : 011 403 0668
Email : paia@sahrc.org.za
Website : www.sahrc.org.za

4. APPLICABLE LEGISLATION

4.1 The Company keeps records in accordance with the following legislation, all of which are available, subject to such legislation and the Act:

• Basic Conditions of Employment Act, No. 75 of 1997
• Companies Act, No. 71 of 2008
• Electronic Communications and Transactions Act, No. 25 of 2002
• Employment Equity Act, No. 55 of 1998
• Income Tax Act, No. 95 of 1967
• Labour Relations Act, No. 66 of 1995
• Promotion of Access to Information Act, No. 2 of 2000
• Unemployment Contributions Act, No. 4 of 2002
• Unemployment Insurance Act, No. 63 of 2001
• Value Added Tax Act, No. 89 of 1991

5. CATEGORIES OF RECORDS HELD

The following are the subject and categories of records held:

6. DETAILS ON HOW TO MAKE REQUESTS FOR ACCESS TO RECORDS HELD BY THE COMPANY

6.1 A requester requiring access to information held by the Company must complete the prescribed form available from SAHRC website (www.sahrc.org.za) or the Department of Justice and Constitutional Development (www.doj.gov.za) and submit it to the Public Officer at the address, or electronic mail address provided for above, and also make the payment of the prescribed fees. The request will not be processed until proof of payment is received. The account details are available upon request at the below contact details.

6.2 The prescribed form must be completed with enough particularity to enable the Public Officer to identify:

• 6.2.1 the record(s) requested;
• 6.2.2 the identity of the requester;
• 6.2.3 indicate which form of access is required, if the request is granted;
• 6.2.4 specify the postal address or fax number of the request in the Republic.

6.3 The requester must state which right she or he is seeking to exercise or protect and provide an explanation of why the requested record is required for the exercise or protection of such right.

6.4 The requester will be informed in writing whether access has been granted or denied. If, in addition, the requester requires the reasons for the decision in any manner, he/she must state the manner and the particulars if so required.

6.5 If a request is made on behalf of another person, then the requester must submit proof of the capacity in which the requester is making the request to the reasonable satisfaction of the Public Officer.

6.6 If an individual is unable to complete the prescribed form because of illiteracy or disability, such a person may make the request orally.

6.7 The Company will process the request within 30 days, unless the requester has stated special reasons which would satisfy the Public Officer that circumstances dictate that the above time periods not be complied with.

7. PRESCRIBED FEES

The following applies to requests (other than personal requests):

7.1 A requestor is required to pay the prescribed fees (R50.00) before a request will be processed;

7.2 If the preparation of the record requested requires more than the prescribed hours (six), a deposit shall be paid (of not more than one third of the access fee which would be payable if the request were granted);

7.3 A requestor may lodge an application with a court against the tender/payment of the request fee and/or deposit;

7.4 Records may be withheld until the fees have been paid.

7.5 The fee structure is available on the website of the SOUTH AFRICAN HUMAN RIGHTS COMMISSION at www.sahrc.org.za, or the website of THE DEPARTMENT OF JUSTICE AND CONSTITUTIONAL DEVELOPMENT (under regulations) at http://www.doj.gov.za/

7.6 Refer to Annexure 2.

8. GROUNDS FOR REFUSAL OF ACCESS TO RECORDS

The main reason(s) why the Company may refuse a request for information relates to the:

8.1 mandatory protection of the privacy of a third party who is a natural person, which would involve the unreasonable disclosure of personal information of that natural person (section 63);

8.2 mandatory protection of the commercial information of a third party, if the record contains:-

• 8.2.1 trade secrets of that third party;
• 8.2.2 financial, commercial, scientific or technical information which disclosure could likely cause harm to the financial or commercial interests of that third party;
• 8.2.3 information disclosed in confidence by a third party to the Company if the disclosure could put that third party at a disadvantage in negotiations or commercial competition (section 64);

8.3 mandatory protection of the safety of individuals and the protection of property (section 66);

8.4 mandatory protection of confidential information of third parties if it is protected in terms of any agreement (section 67);

8.5 mandatory protection of records which would be regarded as privileged in legal proceedings (section 67);

8.6 the commercial activities of the Company, which may include:-

• 8.6.1 trade secrets of the Company;
• 8.6.2 financial, commercial, scientific or technical information which disclosure of could likely cause harm to the financial or commercial interests of the Company;
• 8.6.3 information which, if disclosed could put the Company at a disadvantage in negotiations or commercial competition;
• 8.6.4 a computer program which is owned by the Company, and which is protected by copyright (section 68);

8.7 Requests for information that is clearly frivolous or vexatious, or which involve an unreasonable diversion of resources shall be refused.

9. REMEDIES AVAILABLE WHEN THE COMPANY (PTY) LTD REFUSES A REQUEST FOR INFORMATION

9.1 Internal Remedies

The Company does not have an internal appeal procedure. As such, the decision made by the Public Officer is final, and requesters will have to exercise such external remedies at their disposal if the request for information is refused, and the requester is not satisfied with the answer supplied by the Public Officer.

9.2 External Remedies

A requester that is dissatisfied with a Public Officer’s refusal to disclose information, may within 30 days of notification of the decision, apply to a relevant Court for relief. Likewise, a third party dissatisfied with a Public Officer’s decision to grant a request for information, may within 30 days of notification of the decision, apply to a Court for relief. For purposes of the Act, the Courts that have jurisdiction over these applications are the Constitutional Court, the High Court or another court of similar status.

9.3 Availability of this Manual

• 9.3.1 This manual is available for inspection by the general public upon request, during office hours and free of charge at the physical address of the Company.
• 9.3.2 Copies may also be requested from the SAHRC.

ANNEXURE 1 SCHEDULE OF FEES

The Promotion of Access to Information Act 2 of 2000 provides for two types of fees:

• 1. Request fee, a standard administration fee paid by all requestors except personal requestors. This is not refundable. See Part 4.
• 2. Access fee paid by all requestors intended to reimburse the institution for costs involved in searching for a record and preparing it for delivery to the requestor. This fee is calculated by taking into account reproduction costs, search and preparation time and cost, as well as postal costs.

Please note:

• The only charge that may be levied for obtaining records is a fee for reproduction of the record in question.
• An access fee is payable in all instances where a request for access to information is granted, except in those instances where payment of an access fee is specially excluded in terms of the Act or an exclusion is determined by the Minister in terms of Section 54(8).
• In terms of Regulation 8, Value Added Tax (VAT) must be added to all fees prescribed in terms of the Regulations.
• When the Information Officer receives the request, he/she shall notify the requester to pay the prescribed request fee (if any), before further processing of the request.
• The Information Officer may withhold a record until the requester has paid the fees.
• If a deposit has been paid in respect of a request for access, which is refused, then the information officer concerned must repay the deposit to the requester.

The Applicable Fees are as follows:

Sharenet takes every precaution to ensure that its systems are safe. This includes the use of firewalls on the network perimeter and on servers, virus protection systems, restricted access to our server environments and network monitoring. Where appropriate we also make use of secure connections to web browsers by means of 128 bit SSL encryption built into web browsers.

SITE PASSWORDS

When initially signing up with us we generate a totally random password for your use. You may change this password and if you do so please ensure it is difficult for anyone else to guess it, preferably by choosing a combination of letters and numbers and not using any words that can be found in a dictionary. We recommend that you never use the same password on any other site and that if you need to write it down or store it electronically that you ensure it is kept very safe.

TRADING PASSWORD

When signing up for any online trading facilities, you specify a password that is used when placing orders. This is a totally separate password to the one used for logging into the web site. You may change this password and if you do so please ensure it is difficult for anyone else to guess it, preferably by choosing a combination of letters and numbers and not using any words that can be found in a dictionary. We recommend that you never use the same password on any other site and that if you need to write it down or store it electronically that you ensure it is kept very safe. We also suggest that this password not be the same as your site password.

WHAT TO DO IF YOU SUSPECT A PROBLEM

If you suspect someone is using your login, immediately change you password(s) and contact us.

FUNDS TRANSFERS

As an added precaution, any requests to withdraw money from your online trading account will only be paid into the bank account you specified when you signed up for online trading.

Maintenance of an FSP license

Once a license is granted by the FSCA, Sharenet will be required to maintain its license. A FSP license is maintained by complying with the provisions of the FAIS Act together with the conditions and restrictions imposed by the Authority on how authority may be exercised.

Sharenet has been authorised to render financial services in respect of the following categories of financial products:

SHARENET WEALTH

SHARENET SECURITIES

OPENING AN INDIVIDUAL CLIENT ACCOUNT

Opening an individual investment account requires the following documentation:

1. Sharenet Mandate
2. Application Form (Completed and signed by the client)
3. Power of Attorney (Signed by the client).

Supporting Documentation (Original hardcopies are not required. If the client is not a South African resident, you must provide certified copies of your documentation. Sharenet may require further documentation at its discretion)

1. South African Barcoded Identity Document/card (Primary Identification); both pages/sides - All non-South African clients, copy of valid passport
2. Municipal Utility Bill as proof of residence (dated within 3 months of application to Sharenet)
3. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank
4. W8BEN if the client is opening an offshore investment account

PLEASE NOTE:
Where ID is not available: Passport or Temporary ID document can be used together with a valid written explanation as to why SA ID is not available as they are Secondary Identification documents

Where utility bill is not available:

• Bank/ mortgage bond statement (dated within 3 months of application to Sharenet)
• Letter from Bank confirming residential address (dated within 3 months of application to Sharenet)
• Property Title Deed or Lease Agreement
• A telephone account (dated within 3 months of application to Sharenet)
• A valid television license document (applicable to SA Res only)
• An official document issued by Tax Authority (dated within 3 months of application to Sharenet)
• An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it's clients/customers (dated within 3 months of application to Sharenet)

OPENING A JOINT CLIENT ACCOUNT

Opening a joint investment account requires the following documentation:

1. Sharenet Mandate
2. Joint application form (Completed and signed by the clients)
3. Power of Attorney for each individual (Signed by the clients)

Supporting Documentation for each individual (Original hardcopies are not required. If the client is not a South African resident, you must provide certified copies of your documentation. Sharenet may require further documentation at its discretion)

1. South African Barcoded Identity Document/card (Primary Identification); both pages/sides - All non-South African clients, copy of valid passport
2. Municipal Utility Bill as proof of residence (dated within 3 months of application to Sharenet)
3. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank
4. W8BEN if the client is opening an offshore investment account

PLEASE NOTE:
Where ID is not available: Passport or Temporary ID document can be used together with a valid written explanation as to why SA ID is not available as they are Secondary Identification documents

Where utility bill is not available:

• Bank/ mortgage bond statement (dated within 3 months of application to Sharenet)
• Letter from Bank confirming residential address (dated within 3 months of application to Sharenet)
• Property Title Deed or Lease Agreement
• A telephone account (dated within 3 months of application to Sharenet)
• A valid television license document (applicable to SA Res only)
• An official document issued by Tax Authority (dated within 3 months of application to Sharenet)
• An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it's clients/customers (dated within 3 months of application to Sharenet)

OPENING A CORPORATE ACCOUNT

Opening a corporate requires the following documentation:

1. Sharenet Mandate
2. Corporate application form (Completed and signed by the authorised individual).
3. Power of Attorney (Signed by the authorised individual).

Supporting Documentation (Original hardcopies are not required. Documentation for Corporates established outside of South Africa must be certified; Documentation for South African Corporates, South African directors and South African shareholders need not be certified. Sharenet may require further documentation at its discretion and is obliged to identify the entity down to ultimate beneficial owner)

1. Certificate of Incorporation
2. Change of name documentation (if applicable)
3. Memorandum of Incorporation / Memorandum & Articles of Association / Constitution (if applicable)
4. Register of Directors
5. Register of Shareholders (reflecting all shareholders with 20% or more of the voting rights at a general meeting of the entity)
6. Entity organogram for complex structures
7. Resolution/ Signatory Rules identifying those individual persons authorised to act on behalf of the entity ("Authorised Persons")
8. South African Barcoded Identity Document/card (Primary Identification; both pages/sides) for all Directors, Shareholders, Authorised Persons - All non-South African Directors and Shareholders, copy of passport
9. Utility bill as proof of residence for all Directors, Shareholders, Authorised Persons (dated in the last three months)
10. Utility bill Proof of registered address/operating address if not specified in the company documents already listed
11. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank.

PLEASE NOTE:
Where ID is not available: Passport or Temporary ID document can be used together with a valid written explanation as to why SA ID is not available as they are Secondary Identification documents

Where utility bill is not available:

• Bank/ mortgage bond statement (dated within 3 months of application to Sharenet) Letter from Bank confirming residential address (dated within 3 months of application to Sharenet)
• Property Title Deed or Lease Agreement
• A telephone account (dated within 3 months of application to Sharenet)
• A valid television license document (applicable to SA Res only)
• An official document issued by Tax Authority (dated within 3 months of application to Sharenet)
• An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it's clients/customers (dated within 3 months of application to Sharenet)

Applicants that are unable to provide one of the above should contact Sharenet for further guidance.

Where a Director or Shareholder is an entity, please see FICA requirements dependant on entity type (Corporate/Trust) for that particular Director/Shareholder.

OPENING A TRUST ACCOUNT

Opening a trust account under requires the following documentation:

1. Sharenet Mandate
2. Trust application form (Completed and signed by the authorised individual).
3. Power of Attorney (Signed by the authorised individual).

Supporting Documentation (Original hardcopies are not required. Documentation for trusts established outside of South Africa must be certified; Documentation for South African trusts, South African trustees and South African beneficiaries need not be certified. Sharenet may require further documentation at its discretion and is obliged to identify the entity down to ultimate beneficial owner)

1. Trust Deed
2. Letter of Authority from Master of the High Court or other relevant authority (if applicable)
3. South African Barcoded Identity Document/card (Primary Identification; both pages/sides) for all Trustees, Named Beneficiaries as well as the Founder/Donor ^ - All non-South African Trustees/Beneficiaries/Founders/Donors, copy of passport
4. Utility bill as proof of residence for all Trustees, Named Beneficiaries, as well as the Founder/Donor (dated in the last three months) ^^
5. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank
6. W8BENE (if this is an offshore investment)

PLEASE NOTE:
Where ID is not available: Passport or Temporary ID document can be used together with a valid written explanation as to why SA ID is not available as they are Secondary Identification documents

Where utility bill is not available:

• Bank/ mortgage bond statement (dated within 3 months of application to Sharenet)
• Letter from Bank confirming residential address (dated within 3 months of application to Sharenet)
• Property Title Deed or Lease Agreement
• A telephone account (dated within 3 months of application to Sharenet)
• A valid television license document (applicable to SA Res only)
• An official document issued by Tax Authority (dated within 3 months of application to Sharenet)
• An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it's clients/customers (dated within 3 months of application to Sharenet)
• Applicants that are unable to provide one of the above should contact Sharenet for further guidance.
• Where a Trustee or Beneficiary is an entity, please see FICA requirements for a Corporate for that particular Trustee/Beneficiary.

1.Introduction

1.1 The General Code of Conduct for Financial Services Providers and Representatives (the “Code”) published in terms of the Financial Advisory and Intermediary Services Act, No. 37 of 2002 (“FAIS”), requires every Financial Services Provider (“FSP”) to adopt, implement and maintain a Conflict of Interest Management Policy.

1.2 All Employees and Associates of Sharenet Investments (Pty) Ltd. as FAIS registered FSPs, (together “Sharenet”), must perform their duties independently and act in the best interests of Sharenet’s existing and potential clients (“Clients”).

1.3 Sharenet has introduced reasonable mechanisms to identify Conflicts of Interest between:  

• itself, Employees and Clients; and
• between different Clients.

1.4 In considering potential Conflicts of Interest, Sharenet considers: (i) the structure and business activities of Sharenet; and (ii) any proposed new business activities of Sharenet.

1.5 Sharenet is obliged to render unbiased and fair financial services to Clients. Accordingly, we must take all reasonable steps to avoid any business activities and/or practices that may create Conflicts of Interest between Sharenet and Employee interests, and the interests of Clients. In the event that it is not possible to avoid a Conflict of Interest, Sharenet will take all reasonable steps to mitigate the impact as well as appropriately disclosing any such Conflict of Interest to Clients.

1.6 Defined terms not otherwise defined herein are listed in the Appendix.

2. Purpose of this Policy

The purpose of this Conflicts of Interest Management Policy is primarily to provide mechanisms for the identification and management of Conflicts of Interest that may arise in the rendering of financial services to Clients.

3. Application of this Policy

This Conflicts of Interest Management Policy applies to all Employees and must be read together with the related policies listed below, some of which reflect specific categories of Conflicts of Interest: 

• Gifts and Inducements;
• Outside Interests and Personal Account Investing;
• Insider Trading;
• Code of Ethics;
• Order Execution;
• Transaction Costs Disclosure;
• Counterparty and Credit Risk;
• Proprietary Trading (note: while Sharenet has a policy in place, it does not engage in any proprietary trading);

Mechanisms through which Sharenet identifies and manages actual or potential Conflicts of Interest

4.1 All Employees are required to report any potential or actual Conflicts of Interest to the Compliance Department. The onus is on every Employee to comply with this Policy. Should any individual be uncertain as to whether they are in a conflicted situation e.g.: whether the offer they wish to make or the offer which has been made to him/her, or whether a particular action or omission amounts to a Conflict of Interest, then he/she should contact the Compliance Department immediately. 

4.2 Every Department Head must, on an ongoing basis, identify any actual or potential Conflicts of Interest which may arise within his or her area. These must be reported to the Compliance Department. The Compliance Department maintains a Conflicts of Interest Register which is reviewed periodically with senior management to determine whether conflicts already identified are still valid, whether the mitigation strategies in place operate effectively and whether there are any new or potential conflicts that may have arisen since the last review.

4.3 The Compliance Department will investigate any potential or actual Conflicts of Interest to determine whether such conflicts are conflicts as contemplated in FAIS or any other applicable legislation. The Compliance Department, in conjunction with senior management, will determine whether such Conflicts of Interest are avoidable or unavoidable conflicts.

4.4 If a Conflict of Interest is identified as being avoidable, then Sharenet will adopt the necessary internal procedures to ensure that the activity that gives rise to the avoidable conflict, is avoided.

4.5 If a Conflict of Interest is identified as being unavoidable, the Compliance Department, in conjunction with senior management, will establish a strategy to mitigate the risk of such Conflict of Interest impacting negatively on Sharenet’s ability to render fair and unbiased services to affected Clients.

4.6 Sharenet will disclose any specific Conflict of Interest impacting a Client to such impacted Client, together with the mitigation strategy employed.

4.7 Employees are encouraged to make use of the anonymous “whistleblowing hotline” which is available to all Employees, details of which appear in the Whistleblowing Policy and on the Compliance Home Page.

5. Guidelines in relation to Financial or Ownership Interests

No Employee may accept/give a Financial Interest or Ownership Interest from/to a Third Party, other than an Immaterial Financial Interest (refer to the Gifts and Inducements Policy).

Sharenet may not offer any Financial Interest to an Employee which incentivizes such Employee to:

• Give preference to the quantity of business over quality of service rendered to Clients;
• Give preference to a specific product supplier in the event that it is possible to recommend more than   one supplier to a Client; and/or
• Give preference to a specific product in the event that it is possible to recommend more than one  product to a Client.

No Employee may directly or indirectly refer any actual or potential item of designated investment business to another person on their own initiative or on instruction from Sharenet, if it is likely to conflict with any duty that Sharenet owes to its Clients or any duty which such recipient firm owes to its Clients.

6. Representative’s entitlement to Financial Interest

As consideration for providing services to Clients, Representatives are entitled to remuneration by salary and other benefits in terms of their contracts of employments. No Employee may receive a Financial Interest that leads to a potential Conflict of Interest between the Employee and any Clients; 

No Employee may be remunerated in such a way that encourages that Employee to contravene this Policy.

7. Management of Conflicts of Interest

7.1  Once an actual or potential Conflict of Interest has been identified, it must be reported to the Compliance Department in the prescribed manner.

7.2 The Compliance Department will keep a record of all actual or potential Conflicts of Interest in the Conflicts of Interest Register.

7.3 The Compliance Department is responsible for monitoring Sharenet’s adherence to the Conflicts of Interests Management Policy (as well as adherence to the policies relating to the identified categories of potential Conflicts of Interests).

7.4 All Employees are required to declare on an annual basis that they have complied with the Conflicts of Interests Management Policy and related policies.

7.5 The Conflicts of Interests Management Policy and related policies are reviewed annually, and where necessary, updated to ensure that the provisions remain sufficient to identify, assess, evaluate and mitigate Conflicts of Interest.

8. Consequences for non-compliance

If any Employee fails to comply with the contents of this Policy or avoids same through any means, it will be regarded as a breach of his/her employment contract. This will potentially render the individual liable to sanction under both the FAIS Act and Sharenet’s disciplinary procedures.

9. Training of relevant Policies

All Employees must know and understand the Conflicts of Interest Management Policy as well as the policies relating to the identified categories of potential Conflicts of Interests. Appropriate training will be provided to all Employees on a periodic basis.

10. Acceptance and Publication of the Conflicts of Interest

The Board has adopted this Conflicts of Interest Management Policy as well as the policies relating to the identified categories of potential Conflicts of Interest. The Conflicts of Interest Management Policy is available to all Employees in the CFM Compliance Manual on the Compliance Home Page.

Appendix

Associate means in the case of a company, any subsidiary or holding company of that company, any other subsidiary of that holding company and any other company of which that holding company is a subsidiary.

Conflict of Interest means any situation in which Sharenet or an Employee has an actual or potential Interest that may, in rendering a financial service to a Client:

• Influence the objective performance of Sharenet’s obligations to that Client; or
• Prevent Sharenet or an Employee from rendering an unbiased and fair financial service to that Client, or from acting in the interests of that Client.

Employee includes:

• A director
• An employee of any Sharenet group company, including a temporary employee and an employee employed on a fixed-term contract basis;
• Any investment vehicle (including a trust) in which an employee has an interest;

Financial Interest: means any cash, cash equivalent, voucher, gift, service, advantage, benefit, discount, domestic or foreign travel, hospitality, accommodation, sponsorship, other incentive or valuable consideration, other than:

• Training, that is not exclusively available to a selected group of providers or representatives, on products and legal matters relating to those products; but excluding travel and accommodation associated with that training;
• General financial and industry information; and
• Technological systems of a third party necessary for the rendering of a financial service 

Immaterial Financial Interest: means any financial interest with a determinable monetary value, the aggregate of which does not exceed ZAR1 000 in any calendar year in relation to the same Third Party in such calendar year.

Representative means any natural person who renders a financial service to a client for and on behalf of an FSP in terms of conditions of employment or any other mandate.

Ownership Interest means:

• Any equity or proprietary interest, other than equity or an proprietary interest held as an approved nominee on behalf of another person; and
• Includes any dividend, profit share or similar benefit derived from that equity or ownership interest.

Third Party means:

• A product supplier within the financial services industry
• A financial services provider (FSP)
• Any other service provider which provides or may potentially provide services
• All clients or potential clients for whom Sharenet renders a permitted financial service
• Securities issuers
• An associate of any of the above

This consent applies to clients registering and transacting directly on the Sharenet trading and investment platform (which includes Sharenet Securities (PTY) Ltd and Sharenet Wealth (PTY) Ltd)

1. Applying electronically
   
   

   If you decide to apply for a username or register for a product with SHARENET trading and investment platform, you agree to receive all account information and statements electronically.

2. Electronic communications
   
   

   All account documentation and statements and any notices, instructions, agreements, or any other communications regarding transactions and your account (all of which are referred to herein as the "Communications") may be presented, delivered, stored, retrieved, and transmitted electronically.

3. Executing transactions electronically
   
   

   The Agreement and Transactions will be executed using electronic records and electronic signatures.

4. Consenting to do business electronically
   
   

   The decision whether to do business electronically is yours, and you should consider whether you have the necessary hardware and software capabilities. Your consent to do business electronically, and our agreement to do so, only applies to the establishment and maintenance of your Account and the execution of transactions in connection with your Account.

5. Withdrawal of consent
   
   

   You have the right to withdraw your consent to doing business electronically at any time. However, if you withdraw such consent, any Communications or Transactions between us during the period after your consent to doing business electronically, and before your withdrawal of such consent, will be valid and binding on all parties.

6. Changes to your contact information
   
   

   You should keep us informed of any change in your electronic or mailing address or other contact information.

7. Printing
   
   

   You may print this document by selecting Print from the File menu.

8. Your ability to access communications
   
   

   When accepting our terms and conditions, you acknowledge that you have the capability to access the Communications.

9. Consent to electronic communications
   
   

   When accepting our terms and conditions, you consent to having all Communications provided or made available to you in electronic form.

10. Consent to executing transactions electronically
    
    

    When accepting our terms and conditions, you consent to executing the Agreement and Transactions by electronic record and/or electronic signature.

The web portal Sharenet has developed contains certain online programs, designed as 'self-help' tools for people who choose to personally and in the comfort of their own home or office, determine their investment and trading strategies and objectives.

As the nature of investing and trading involves certain elements of risk, we urge you to take the time to read, study and understand this disclaimer.

Should you make use of the Online tools on this site and make any investment decision based on the outcome of the tool, you choose not to make use of an expert adviser and accordingly accept full responsibility and assume all risk for any loss, harm or damage caused by your use and reliance on the information so provided by the online financial planning tools on this site.

You furthermore understand and accept that the acceptance of risk cover and underwriting is dependent on the accuracy and complete disclosure of the information required to be so disclosed by the site and/or telephone consultant tasked with activating your policies.

Obtaining expert advice is always recommended and we encourage all users, whether existing clients or not, to consult with their financial planner/adviser before making any decisions based on the outcomes or information generated by the tools or programs available on this website and its links.

As no advice is given for insurance or investment purposes and as the programs and tools are only designed to reflect potential outcomes based on the information you are responsible for accurately and honestly providing, Sharenet, its affiliates or holding company, including its directors, employees and contractors from time to time, do not accept any form of liability whatsoever, for any loss, liability or damage suffered, whether direct or consequential, resulting or ensuing from the use of or reliance on the programs, tools, online quote tools and information contained in this site or any links from this site.

Sharenet trading and investment platform always strives to stay abreast of the latest legislative and financial industry updates. We furthermore strive to correctly and accurately reflect all information. However, financial information is constantly changing and quickly becomes outdated. Accordingly, all information on this site is provided 'as is' and no warranties, either expressly or implied can be given that any information is up to date or accurate. We caution and urge any users of this site, to verify the information contained and obtained on this site. Any harm caused or loss suffered, whether direct or consequential, as a result of a reliance on the information or programs available on this site is disclaimed.

Should you not fully understand the nature, effect or any provisions of the above disclaimer, you are cautioned not to proceed until such time as you have had your financial adviser or legal adviser explain the effect and consequences of this disclaimer.

This publication has been issued by Sharenet trading and investment platform. It is confidential and issued for the information of clients only. It shall not be reproduced in whole or in part without our permission. The information contained herein has been obtained from sources which and persons whom we believe to be reliable but is not guaranteed for accuracy, completeness or otherwise. Opinions and estimates constitute our judgement as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This report is provided for informational purposes only. No information contained herein, no opinion expressed and no recommendation made constitutes a representation by us or a solicitation for the purchase of any of the securities mentioned herein and we have no responsibility whatsoever arising here from or in consequence hereof. Securities, financial instruments or strategies mention herein may not be suitable for all investors and investors must make their own investment decisions using their own advisers as they believe necessary and based upon their specific financial situations and investment objectives. The employees of Sharenet trading and investment platform may from time to time own securities mentioned herein. Analyst Certification The research analyst who prepared this report certifies that the view expressed herein accurately reflect the research analyst's personal views about the subject security and issuer and that no part of his compensation was, is or will be directly or indirectly related to specific recommendations or views contained in this report.

This publication has been issued by Sharenet trading and investment platform. It is confidential and issued for the information of clients only. It shall not be reproduced in whole or in part without our permission. The information contained herein has been obtained from sources which and persons whom we believe to be reliable but is not guaranteed for accuracy, completeness or otherwise. Opinions and estimates constitute our judgement as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This report is provided for informational purposes only. No information contained herein, no opinion expressed, and no recommendation made constitutes a representation by us or a solicitation for the purchase of any of the securities mentioned herein and we have no responsibility whatsoever arising here from or in consequence hereof. Securities, financial instruments or strategies mention herein may not be suitable for all investors and investors must make their own investment decisions using their own advisers as they believe necessary and based upon their specific financial situations and investment objectives. The employees of Sharenet may from time to time own securities mentioned herein. Analyst Certification The research analyst who prepared this report certifies that the view expressed herein accurately reflect the research analyst's personal views about the subject security and issuer and that no part of his compensation was, is or will be directly or indirectly related to specific recommendations or views contained in this report.

Sharenet trading and investment platform terms and conditions

By your acceptance of the Sharenet Securities (PTY) Ltd and Sharenet Wealth (PTY) Ltd Terms and Conditions, you hereby accept the conditions of this agreement and the standard conditions of www.sharenet.co.za (-the Site-) and agree as follows:

1. By utilising any services on this Site, you the user, agree that you have reviewed the Site in its entirety, that you have accepted the terms and conditions applicable to the services, including all legal and regulatory terms and are conversant with and understand such terms and conditions and the applicable local legislation and regulations. Details of the terms of use of the Site can be found on the Site.

Should you have a complaint against a representative of Sharenet, which you can’t settle with us, please address your grievance in writing to the FAIS Ombud, which is there to provide redress-mechanisms regarding inappropriate and inadequate financial services and related issues.

FAIS OMBUD
PO Box 74571
Lynnwood Ridge
0040
Tel +27 (12) 470 9080
Fax +27 (12) 348 3447

Compliance with the FAIS Act is monitored by an FSCA authorised Compliance Officer, Etude Compliance Services who is contactable on Tel: +27 (21) 852 6667 or email: info@etude.co.za.

Globally, financial regulatory bodies are increasingly focused on market conduct rules across the financial markets and products. Consequently, new financial regulation comes into force on an ongoing basis, and most recently through the introduction of Market Abuse Regulation.

It is therefore essential that you, as a client of THE SHARENET GROUP, receive information on and gain insight into which part of the said rules and regulations you are required to comply with. Below, you will find an overall description of the rules. You will also find a non-exhaustive list describing situations which you need to avoid as these constitute violations of market rules.

Market conduct rules

Regulation of the financial markets and market conduct rules are aimed at ensuring trust and integrity and thus promoting integrated, efficient and transparent markets. Specific rules set forth unacceptable market conduct by prohibiting the abuse of insider information and various forms of market manipulation. The exchanges/trading venues may have specific rules about market disruption so at the end of this document you will find links to the relevant sites. One example of such rules is that some exchanges have specific limits for the size of positions in various derivatives.

Market conduct rules and regulation applies to all individuals and all legal entities; therefore, all market participants are obliged to familiarize themselves with the relevant rules and regulations. It should be noted that the responsibility of complying with the specific rules lies solely with the individual market participant, and i.e. you as our client.

Trading activity is being monitored and any suspicious activity will be investigated by the relevant markets and authorities. The following is a non-exhaustive list of examples of conduct that violate market conduct rules:

• Taking advantage of price-sensitive non-published information concerning a company in order to make a profit or avoid incurring losses by buying or selling stocks and/derivatives or to attempt to take advantage of the said information in any other way (insider trading).
• Passing on insider information.
• Disseminating false or misleading information on circumstances of substantial importance for the valuation of a security (e.g. a company’s earnings, orders or product pipeline or a general supply shortage).
• Disseminating false or misleading information, rumors or messages that may influence the price of a security with the intent to exploit the resulting price movement.
• Entering low-volume purchase orders with successively higher prices to simulate an increased demand amid rising prices (painting the tape).
• Simultaneously buying and selling the same securities for the account of one and the same beneficial owner to create false or misleading signals regarding the supply of, demand for, or market price of securities (wash trades).
• To distort liquidity or prices by entering equal but opposite buy and sell orders in the same security by prior mutual agreement between a number of parties (matched orders or daisy chains coordinated among a number of parties).
• Constricting the market by building up large positions (cornering) or depositing securities with third-parties (parking) to distort securities prices (creating a squeeze).
• Buying or selling securities shortly before the exchange closes with the intent to influence closing prices (marking the close).
• Buying or selling securities to move prices (ramping) or keep them at a specific level (e.g. capping, pegging).
• Influencing commodity prices to give out false or misleading signals regarding the supply of or demand for securities.
• Placing orders but with no intention to execute (Spoofing).
• Similar to spoofing, market participants “layer” or “bait” other market participants to react and trade with a bona fide order on the other side of the market without intention to trade (Layering).
• Attempting to push down the price of a stock by heavy selling or short selling (bear raiding)

For further information regarding market regulations and practices please make sure and visit the following exchanges:

Trading in the products and services of Sharenet Group of Companies (“Sharenet”) may, even if made in accordance with a Recommendation, result in losses as well as profits. In particular trading in leveraged products, such as but not limited to, foreign exchange, derivatives and commodities can be very speculative and losses and profits may fluctuate both violently and rapidly.

Speculative trading is not suitable for all investors.

Any mentioning, if any, in a Publication of the risks pertaining to a particular product or service may not and should neither be construed as a comprehensive disclosure nor full description of all risks pertaining to such product or service and Sharenet strongly encourages any recipient considering trading in its products and services to employ and continuously consult suitable financial advisors prior to the conclusion of any investment or transaction.

No recommendations

Sharenet does not in any of its Publications take into account any particular recipient’s investment objectives, special investment goals, financial situation, and specific needs and demands. Therefore, all Publications of Sharenet are, unless otherwise specifically stated, intended for informational and/or marketing purposes only and should not be construed as:

• business, financial, investment, hedging, legal, regulatory, tax or accounting advice;
• a recommendation or trading idea; or
• any other type of encouragement to act, invest or divest in a particular manner (collectively “Recommendations”).

Sharenet shall not be responsible for any loss arising from any investment based on a perceived Recommendation.

No Representation, No Warranty

Sharenet uses reasonable efforts to obtain information from reliable sources, but all Publications are provided on an “as is” basis without representation or warranty of any kind (neither express nor implied) and Sharenet disclaims liability for any Publication not being complete, accurate, suitable and relevant for the recipient. Specifically, Sharenet disclaims liability towards any subscriber, client, partner, supplier, counterparty and other recipients for:

• the accuracy of any market quotations;
• any delay, inaccuracy, error, interruption or omission in providing market quotations; and
• any discontinuance of market quotation.

The Publications of Sharenet are not updated after their release and may due to changing circumstances become inaccurate and possibly misleading after a period of time which may vary from seconds and minutes to days, weeks and months depending on the Information. Sharenet gives no guarantee against, and assumes no liability towards any recipient for, a Publication being outdated.

If a Publication becomes outdated Sharenet shall be under no obligation to:

• update the Publication;
• inform the recipients of a Publication; or
• perform any other action.

Any Publication may be personal to the author and may not reflect the opinion of Sharenet. Sharenet reserves the right at its sole discretion to withdraw or amend any Publication or Information provided at any time without notice (prior or subsequent).

Internet Trading Risks

There are risks associated with utilising an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Since Sharenet does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet. Sharenet employs backup systems and contingency plans to minimize the possibility of system failure, and trading via telephone is available.

Use of the website

Any use of the Sharenet website is subject to Sharenet’s “Terms of Use”, as amended from time to time, and the “Copyright” provisions, as amended from time to time, both of which shall be construed as constituting an integrated part of this disclaimer.

Sharenet shall not be liable for any damage or injury arising out of any person’s or entity’s access to, or inability to access, the website of Sharenet. This limitation includes, but is not limited to, any damage to computer equipment and computer systems caused by virus, malware and any other harmful computer coding.

Consulting the website of Sharenet does not constitute a customer relationship and Sharenet shall not have any duty or incur any liability or responsibility towards any person or entity as a result of such person or entity consulting the website of Sharenet.