USE OF THE THAMES VALLEY INVESTMENTS WEBSITE

By using this website, you are agreeing to be bound by our terms.

This website is issued by Thames Valley Investment Advisers Ltd, trading as Thames Valley Investments.  Thames Valley Investment Advisers Ltd is authorised and regulated by the Financial Conduct Authority. Thames Valley Investment Advisers Ltd is registered in England and Wales, No. 8646780. Registered office 4 Reading Road, Pangbourne, Berkshire RG8 7LY.

Jurisdiction

This website, and all matters arising from it, shall be governed by and in accordance with English law. All users agree to be subject to the exclusive jurisdiction of the English courts.

The information, products and services referred to on this website are not directed at any person or entity in any jurisdiction or country outside those where services may lawfully be offered by Thames Valley Investments.

Copyright

Information on this site is for your personal use only, and may be reproduced in hard copy solely for your personal use. Information on this site may not otherwise be reproduced or distributed to any person in any way without our prior written permission.

Scope and limit of liability

Nothing on this website should be construed as a solicitation or offer, or recommendation, to buy or sell securities or any other investment or banking product, or to provide any investment advice or service.

Nothing contained on this website constitutes investment, legal, tax or other advice and is not to be relied upon in making an investment or other decision.

The information on this website is believed to be correct, but Thames Valley Investment Advisers Ltd cannot guarantee the accuracy, timeliness or completeness of any such information. Neither Thames Valley Investment Advisers Ltd, nor any connected company accepts responsibility for any direct or indirect or consequential loss suffered by you or any other person as a result of your acting, or deciding not to act, in reliance upon any information contained in this website.

Investment Risk

Certain investments carry a higher degree of risk than others and are, therefore, unsuitable for some investors. Past performance is not a reliable indicator of future results. The value of investments, and the income from them, can go down as well as up, and you may not recover the amount of your initial investment. Where an investment involves exposure to a foreign currency, changes in rates of exchange may cause the value of the investment, and the income from it, to go up or down. Tax treatment depends on an investor’s individual circumstances, and it may be subject to change.

Before contemplating any transaction, you should consult your adviser.

Conflicts

The research and analysis in this website have been procured, and may have been acted upon, by Thames Valley Investment Advisers Ltd for their own purposes, and the results are being made available to you on this understanding.

Thames Valley Investment Advisers Ltd its clients and officers may have a position or engage in transactions in any of the securities mentioned in this website.

Links to 3rd Parties

This website contains hypertext links to other websites, which may or may not be regulated by the Financial Conduct Authority. By activating any of these links you understand that you are leaving this website. Any hypertext links are used entirely at your own risk.

 

PILLAR 3 DISCLOSURES

Introduction

Thames Valley Investments is required to make a “Pillar 3” disclosure by rules set out in the Prudential Sourcebook for Banks Building Societies and Investment Firms (BIPRU).  FCA’s BIPRU sourcebook. It is intended to encourage good risk management practice within financial services firms and to promote market discipline by making information about companies publicly available.

Thames Valley Investments is an asset management and financial planning firm. It does not deal on its own account, rather it acts as an agent in the management of assets to predetermined mandates. This includes managing the investment portfolios of private individuals.

Risk Management Objectives and Policies

Risk management is focused on reducing operational risk and maintaining sufficient capital within the firm to allow an adequate buffer against those risks as identified in ‘Pillar 2’ of the company’s Internal Capital Adequacy Assessment Procedure (ICAAP), which is reviewed at minimum annually.

Risk management is the responsibility of the board of directors and is led by the firm’s compliance officer. As Thames Valley Investments is a small firm it is not considered necessary to operate a separate risk committee.

Thames Valley Investments is subject to operational and reputational risks.

Operational risks include the detrimental effects of:

  • theft, fraud and litigation;
  • fire, adverse weather and acts of God;
  • IT systems failure;
  • reputational damage from mis-advising clients or mis-managing investment mandates;
  • market risk associated with managed investment portfolios (as the firm is remunerated on a percentage-of-assets basis);
  • regulatory / compliance failings.

These risks are reduced by operating relevant policies and procedures. These are designed to be both preventative and to provide oversight information to the board / managers to act on accordingly.

Thames Valley Investments employs independent compliance consultants who regularly review the firm’s activities. It also actively engages with the compliance departments of third-party partners in order to maintain best practice.

Approach Used for Assessment of the Operational Risk Capital Requirement

As a BIPRU firm, Pillar 1 capital resource requirements are determined by calculating the larger of the Operational Risk and the Fixed Overhead Requirement that might be required to wind up the business in an orderly fashion such that all liabilities could be met.

Approach to Assessing the Adequacy of Capital Resources

The firm’s “Pillar 1” and ‘Pillar 2’ assessment of required capital is set out in its ICAAP. An estimate is made of the amount of capital that should be held against each of the operational risks (including market risk via managed portfolios). As Thames Valley Investments does not engage in dealing or lending from its own book there is no need to assess market or counterparty/credit risk.

The process involves a degree of judgment. The total capital requirement under Pillar 1 and Pillar 2 is assessed and compared.  The larger of the two figures is used as to determine whether current capital resources are adequate.

Using these methods, Pillar 1 capital requirement was determined to be £69,872 and Pillar 2 capital requirement was determined to be £80,000 as of February 2019.

Current Capital Resources

Thames Valley Investments Ltd holds £60,000 of Tier 1 capital comprising 60,000 £1 ordinary shares plus profit and loss reserves of £116,336.

Capital Resources identified are more than £96,336 higher than the minimum capital resource required.  As at the beginning of February 2019 Thames Valley Investments had an additional cash balance of approximately £147,165.  Together it is deemed sufficient to support current and future activities.

Remuneration Policy

Thames Valley Investments is also required to disclose the key policies used in determining remuneration for staff whose professional activities have a material impact on the firm’s risk profile, along with key quantitative information. These staff members are defined by the firm as authorised individuals who are in significant management, control or risk functions. Remuneration policy is the responsibility of the board of directors.

Base pay is set by role.  A discretionary incentive payment may be made on top of base salary for performance above that represented by the base level of pay (which may be assessed by monetary or qualitative factors).

The information contained in this page has not been audited by the Firm’s external auditors and does not constitute any form of financial statement.

 

CALL RECORDING

In accordance with MiFID II regulation, effective from January 2018, Thames Valley Investments is obliged to record telephone calls and to retain call records for a minimum of five years.  To meet this legal obligation, Thames Valley Investments expects that it will start to record telephone calls from 21st September 2017.

 

FINANCIAL OMBUDSMAN SERVICE

Our internal complaints handling procedure for the reasonable and prompt handling of complaints is available upon request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.

 

SHAREHOLDER RIGHTS DIRECTIVE (SRDII)

We are required by the Revised Shareholder Rights Directive (SRD II) to explain whether or not we have an engagement policy in relation to the companies we invest in, where the companies’ shares are admitted to trading on a regulated market. As the proportion of shares we hold in investee companies is much lower than those held by large institutional investors, we are not able to engage with investee companies to the extent envisaged by SRDII. Therefore, we do not have a formal engagement policy.