Terms & Conditions
By accessing any part of this site, you agree to be bound by these terms and to comply with them. If you disagree with these terms, please do not use this site.
Contact – If you have any questions relating to the terms and conditions herein, please email info@acfequityresearch.com, or write to ACF Equity Research, Compliance Officer, 125 Old Broad Street, LONDON, EC2N 1AR
- Our Website
This website https://acfequityresearch.com/ (referred to as the ‘site’) is operated and owned by ACF Equity Research Ltd (referred to as ‘ACF’). Whenever you see the terms ‘ACF’, ‘we’, ‘us’ or ‘our’ on this site, they refer (as applicable) to one or more entities forming part of ACF Equity Research Ltd, and any regional counterparts.
- Our details
We are registered in the United Kingdom (‘UK’) under the company number 7629519. ACF Equity Research LTD (FRN 607274) is an Appointed Representative of City & Merchant Limited (FRN 154182) which is authorised and regulated by the Financial Conduct Authority (‘FCA’) in the UK. Our VAT number is 117627415 and the registered office is Kemp House, 160 City Road, LONDON, EC1V 2NX.
- The FCA Register can be accessed via https://register.fca.org.uk/s/ You can request information about our regulatory status by emailing info@acfequityresearch.com
- Ownership and use of content
All content on this site, including, artwork, charts, data, graphics, illustrations, music, photographs, software, sound, tables, text, video, and other materials, and all rights to such content, belongs to ACF or our licensors.
You may retrieve and display the content from this site on a computer screen, print individual pages and store such pages in electronic form on devices for the sole purpose of informing you and your organisation of the research products and services we offer. However, you should always acknowledge ACF Equity Research as the author.
Content must not be commercially, copied, reproduced, republished, downloaded, distorted, posted, broadcast or transmitted in any other way. If you would like to use content on this site for another purpose, you must obtain written authorisation. Please contact us using the details provided in the ‘contact’ section below.
Certain content is available for free download from this site and must be used in accordance with these terms.
- Third-party links
ACF Equity Research is not responsible for the availability, reliability or safety of content on any third-party websites or material accessed through such sites.
- Trademarks
The trademarks, logos, images and artwork used and displayed on this site are ACF Equity Research’s registered or unregistered trademarks or those of our licensors. Content on this site should not be interpreted as granting, by implication or otherwise, any licence or right to use any trademark without written permission from ACF Equity Research Ltd. Our name or names that might be reasonably considered as passing off may not be used in any way, including in advertising or publicity relating to the distribution of content without our previous written consent.
- Changes to the terms
ACF reserves the right to make changes to any part of this site or the terms without notice, and consequently the terms and conditions may change at any time. You should read our terms and conditions each time you use the site and your continued use of this site is interpreted as your agreement to the version of the terms and conditions in effect when you use the site and as such, you are bound by these.
- Privacy and security policy
These terms and your use of the site are also governed by the privacy and security policy below.
- Cookies policy
The terms and use of the site are also governed by the Cookies policy below
- Severability
If these terms or any part of them is understood to be illegal, invalid or otherwise unenforceable under the laws of any state or country in which these terms are intended to be effective, then to the extent that they are illegal, invalid or unenforceable, they shall in that state or country be treated as severed and deleted from these terms and the remaining terms shall survive and remain fully intact and in effect and will continue to be binding and enforceable in that state or country.
- Governing law
Access to and use of this site, the terms and any dispute or claim arising from or in connection with them or their subject matter or formation (including non-contractual disputes or claims) is governed by English law. It is a condition of your access and use of this site and or its contents that in the event of a dispute, the relevant parties shall irrevocably submit to the exclusive jurisdiction of UK courts.
Protecting users’ data is or paramount important to ACF Equity Research. ACF does not use cookies to capture or store personal information. Cookies are used to improve your digital and online experience with ACF.
- What are cookies
A cookie is a small amount of data sent to users and stored on their devices used to connect to the internet, for example a user’s hard drive or other electronic storage device such as smartphones etc…
Cookies are text-only files containing small amounts of information which are downloaded to your computer or mobile device when you visit a website. Cookies are then sent back to the originating website on each subsequent visit, or to another website that recognises that cookie. Cookies are used to allow a website to recognise a user’s device.
- How does ACF Equity Research use cookies
Cookies have a range of functions such as efficiently improving navigation between pages, remembering user preferences, and generally improving the user experience. They can remember certain information about you, such as pages you visit, choices you make from menus, and the time and date of your visit. They can also help to ensure that adverts you see online are more relevant to you and your interests. Cookies are critical to helping ACF understand user interactions with our website so that we enhance our products and services to you.
The information below explains the cookies ACF uses on its website and why ACF uses them:
- Google Analytics cookies: we use these cookies to collect information about how visitors use our website, including details of the site where the visitor has come from and the total number of times a visitor has been to our website. We use the information to improve our website and enhance the experience of its visitors.
For more information on Google Analytics cookies, see the official Google Analytics page
The International Chamber of Commerce (ICC) guide to cookie categories also sets out three categories for the cookies used on this website: strictly necessary, performance and functionality.
Strictly necessary cookies are essential in helping you navigate the website and access secure content. These cookies do not gather information about you for the purposes of profiling or targeted marketing and cannot be disabled using the preference selection on this website.
Performance cookies collect anonymous information about how visitors use ACF’s website. They track the pages visitors go to most often and whether the web pages generate an error message. The information collected from these cookies is anonymous and only used to make relevant changes to improve the performance both of ACF’s website and how you experience the site online. These cookies never collate information that could be used to target you with online advertising.
Functionality cookies allow ACF’s website to remember the choices you make (such as your username or region) and direct the website to provide you with enhanced features and content. These cookies can also be used to provide services you requested, such as watching a webcast. These cookies collect anonymous information, which cannot be used to track your browsing activity on another website.
Without these cookies, ACF’s website cannot recall your previous choices and is unable to personalise your browsing experience.
We may partner with third-party advertising networks that collect IP addresses, unique device identifiers (UDIDs), browser type, operating system, time zone, country, referring pages, and other information through the use of cookies, web server logs and pixel tags on ACF’s websites, apps, emails and on third party websites and email. they use this information to provide you with advertisements that are customised to your particular preferences, including for companies that are not affiliates with us. You may see these advertisements on ACF’s website and third-party websites and apps, and across different devices you use.
You may see advertisements for our site on third party websites, including on social media. These advertisements may be served up to you using cookies.
- Managing your preferences with respect to cookies
By using this website, you agree that ACF can place strictly necessary, performance and functionality cookies on your device.
If your browser permits you, you can disable these cookies and ACF will no longer use these cookies to gather information. However, information previously collected may still be used.
If you wish to check and update your cookies settings, you will need to know which browser you are using (the most popular browsers are Firefox, Google Chrome Internet Explorer, Safari, but there are others) and the version you have. You can often find this information by opening the browser, then clicking on ‘Help’ and selecting ‘About.’
Please remember that if you amend your cookie settings, your browsing will be affected, making it difficult for you to use some of ACF’s current and future online website services.
Below we have provided useful links to help you with the steps to disabling cookies on the most popular browsers:
Disable Cookies in Internet Explorer
- Changes to this policy
ACF Equity Research occasionally updates this cookie policy and encourages you to periodically review the policy and to keep yourself informed on regulatory and policy changes governing the use of cookies. Below are some links to help keep you informed about cookies and their permitted uses and their functions.
- Useful information sources
European Advertising Standards Alliance (EASA) framework for online advertising and privacy
International Chamber of Commerce United Kingdom: ICC UK cookie guide
ACF Equity Research accepts no responsibility or liability for the content, accuracy or availability of any external site listed here.
- Introduction
ACF is committed to protecting the privacy of users of its site(s), and to delivering the highest-quality service possible. Please read our privacy and security policy to understand how we use and protect the information you provide.
This policy is effective as of 8 March 2013.
1.1 ACF Equity Research Ltd [we] collects and uses information in the following ways:
- via email, phone, SMS and post; and
- through our website, acfequityresearch.com.
1.2 If you have any questions about this statement or your personal information, please contact us by using this form or by email at info@acfequityresesarch.com
1.3 Please note that by using this site, you agree with the collection, storage, use and disclosure of your personal data in accordance with this privacy and security policy.
1.4 We may change or modify our privacy policy depending on the content and services we are providing at any point in time. We shall post any changes to our privacy and security policy on this page. Therefore, please read the privacy and security policy each time you use the site, as access to or use of the site means you agree to the version of the privacy and security policy in effect when you use the site.
- Information collection and use
2.1 We store and process your personal information when you:
2.1.1 register in order to access products or services on this site. ACF collects personal information as follows full name, company name, job title, email address, country of residence, product and research preferences.
2.1.2 place an order for a product or service. ACF collects contract information, including your telephone number and postal address.
2.1.3 Engage with ACF for one of our briefing services or make a site enquiry ACF collects personal information such as your full name, company name, electronic and postal contact details, as well as any other personal information you disclose in your correspondence and other communications.
2.1.4 To the extent permitted by law, we may monitor electronic communications for the purposes of ensuring compliance with our legal and regulatory obligations and internal policies.
2.1.5 We may also collect email traffic headers (“from”, “to” and timestamp fields) for analysing patterns of network traffic and managing client relationships, although please note that any communications with e-mail addresses which are not associated with a company e-mail address are automatically excluded.
- Personal information collection and use via our website
You do not have to give us any personal information in order to use much of this website. However, if you wish to take advantage of some or certain of our content and or services that we provide or make available or apply to join ACF Equity Research Ltd [ACF], you will need to provide certain information.
3.1 We store and process your information on ACF IT equipment and databases and in any other media wherever located, including outside the European Economic Areas (EEA) to:
3.1.1 Provide a better service to you so that the site recognises you when you return and to keep our marketing communications to you as focussed and relevant as possible in respect of new and existing products and services, and to understand the way you use the site and to periodically send information via email (to the email address you have provided) or display promotional offers relevant to you;
3.1.2 Carry out customer and user surveys as part of our internal and external market research via email, telephone, SMS, fax or post conduct, whereby we may contact you by email, telephone, fax or post. The information collected may be used to customise or improve products, services and the website:
3.1.3 Process your commercial and promotional orders or product access requests;
3.1.4 Respond to your enquiries received by email, telephone, fax or post.
- Information sharing and disclosure
ACF is the sole owner of the information collected on this website. We do not sell, rent, share, or transfer your personal information, except as set out in this statement. We use your information to improve our marketing, for administration and to provide consultancy. If necessary, we may pass your information between our offices. Our offices are listed on this website and the list is updated as appropriate. We may employ the services of a third party to help us in certain areas, such as website hosting. In some cases that third party may receive your information. Furthermore, we may be required to disclose your information by any applicable law or regulation. However, at all times ACF will control and be responsible for the use of your information
The types of information we collect through our website are described below. By using our website you consent to the collection and use of any personal information in the manner described.
4.1. Blogs, Investment Research and Interviews
ACF may or may not produce blogs, research notes and interviews now or in the future to which you may subscribe. If you wish to subscribe to blogs and research notes, please register by completing our subscription form. To unsubscribe, either update your details via the subscription form or email us at info@acfequityresearch.com.
If you register with ACF via the website or place an order or contact us via email, post or telephone we may share information about you to the following, for the purposes set out below:
To ACF’s employees and agents (who may be operating outside the EEA for them to administer any accounts or services provided to you through the site.
4.2. Transfer of business
If ownership or operational control of all or part of the site were transferred, whether as part of the sale of ACF Equity Research or its business assets or for any other reason requiring a transfer of control, we may disclose your personal information to the transferee.
We may need to disclose personal information to protect ACF Equity Research and our licensors’ rights and property, or to comply with any applicable law or valid legal process.
If we provide your information to the third parties described above, we will always require those parties to adhere to the same privacy and security procedures that we follow. By submitting your personal information, you agree to this transfer.
4.3. Transfer of information outside EEA
We expect to have offices worldwide and as such your information may be transferred to, stored at, or processed at a destination outside the EEA in our group of companies.
By submitting your personal data, you agree to this transfer, storage or processing. We will take necessary steps to ensure your data is treated and processed securely and in accordance with this privacy and security policy.
4.4. Aggregated information and tracked information
We may share non-personal aggregated data about site visitors and site users as well as, but not limited to, research report downloads/open statistics, webcast view/load statistics, sales and traffic patterns with our clients, partners and other third parties. This information does not identify users and visitors in any personal capacity but provides generalised information about the users and visitors to the site.
4.5 IP addresses
We use IP addresses to analyse trends, administer the website, track users’ movements, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.
4.6 Links
This website contains links to other websites. Please note that we are not responsible for the privacy practices of other websites. This privacy statement applies solely to information collected by this website.
4.7 Security
We take all appropriate steps to protect your information both online and off-line. If you would like information on our security procedures, please contact us using our contact form.
4,7.1. As required by the UK Data Protection Act 1998, we have strict regulatory and security procedures for the storage and disclosure of information that you provide to prevent unauthorised access to or disclosure of the information collected online. In particular, we encrypt account passwords and use platforms to prevent your account details being accessed by anyone else using the internet.
4.7.2. Despite using encryption and other technology providers, we cannot guarantee the security of the information you disclose. You accept the inherent risks of providing information and dealing online and will not hold ACF Equity Research responsible for any breach of security unless this is a direct result of our negligence or wilful default.
4.7.3. You must ensure that viruses, trojans, worms or equivalent or similar items do not enter your computer system. We assume no responsibility for any loss, howsoever arising, resulting from such viruses, trojans, worms or equivalent or similar items.
4.7.4. If you have any reason at all to be concerned about security, please email us at info@acfequityresearch.com
4.8 Effect of Policy
This policy does not form a contract between an individual and ACF. The policy may also be subject to change. Whenever you need to refer to this policy you should contact us for the most up to date version.
- Recruitment
To apply for positions with ACF you may supply us with your email address, covering letter and CV. Any information you send us for the purpose of a job application will be treated by us with the greatest care and for that purpose only.
In acknowledging an application ACF is not verifying the content, accepting the application or making any offer of employment or engagement. ACF is not obliged to accept or respond to any applications.
ACF is an equal opportunity employer, in accordance with applicable legislation, and does not discriminate on the grounds of gender, race, ethnic origin, age, religion, sexual orientation, disability or any other basis covered by local legislations. All employment related decisions are made entirely on merit.
- Contact us
If you:
- would like to access the personal information we hold about you;
- believe that information we hold about you is incorrect; or
- have any questions in relation to the information concerning privacy and personal information.
then we ask that you contact us using our contact form and we will take reasonable steps to resolve those concerns as soon as practicable. In some cases we may not be able to give you access to personal information we hold regarding you if making such a disclosure would breach our legal obligations to our client or if prevented by any applicable law or regulation
- Telling us about changes to your personal information
If you wish to update or change your registration information, you may do so on our website via our webform on our contact us page here and selecting Update Personal Information in the Select Subject(s) box. Alternatively, please email info@acfequityresearch.com with your amendments. Our Compliance Officer will update your information and/or direct marketing preferences.
- Electronic communications
Important note – internet communications are not secure unless the data is encrypted. We cannot accept any responsibility for the unauthorised access by a third party and/or the corruption of data sent by individuals to ACF Equity Research. It is your responsibility to determine whether you need to encrypt your data before sending.
- Social Media
We own or rent pages and accounts on selected social media platforms such as, but not excluding, linkedin and Twitter to inform, assist and engage with clients and investors. We monitor and record comments and posts made on these channels to help improve our services.
We are not responsible for any information posted on those sites other than information we have posted and do not endorse social media sites, or any information posted on them by third parties or other users.
When engaging with ACF on social media platforms, personal data may be stored on those social media platform’s servers, which are outside our control. Any information posted to such platforms may be accessed and read by the general public. It is not an appropriate forum to discuss clients or investment arrangements. Please note, we will never ask you to share account or password information via social media sites and you should not post such information on those channels.
We regularly update and monitor social media accounts and welcome feedback and ideas via these channels and forums. We endeavour to engage social media users whenever possible, but we cannot guarantee to read or reply to all messages sent to official ACF social media accounts.
Investment research themes and other helpful suggestions are passed to the relevant teams at ACF Equity Research for assessment, but no guarantee is made that ACF will act on any ideas or recommendations submitted.
- Right to see your information
Under the UK Data Protection Act 1998, you have the right to see the personal information that we hold about you, whether collected through your use of the site or through any communications you have had with us. To access these records, you must provide us with a detailed written request by post, for which a small fee is payable. If you have any queries about your right or wish to make such a request, please contact us by e-mail at info@acfequityresearch.com or write to ACF Equity Research, Compliance, 125 Old Broad Street, LONDON, EC2N 1AR
- Contact
If you have any questions about privacy and/or security issues, please email info@acfequityresearch.com or write to ACF Equity Research, Compliance, 125 Old Broad Street, LONDON, EC2N 1AR
The information in ACF’s reports is prepared by ACF Equity Research Ltd (ACF). Our research is published for information purposes only. It is not intended as an offer or solicitation for the purchase or sale of any securities or any financial instruments.
ACF has based its products and services document on information obtained from sources it believes to be reliable but which it has not necessarily independently verified. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made within our products and services do not necessarily reflect the views of ACF Equity Research Limited.
All reasonable steps are taken to ensure the content on this site is accurate at the time of publication and that the server provides the site free of viruses or bugs. However, the site and its content are provided strictly on an ‘as is’ and ‘if available’ basis. Accordingly, to the extent permitted by law, we expressly disclaim and exclude all warranties, conditions, representations and terms, whether express or implied by statute, common law or otherwise, with regard to this site and the content, including regarding the accuracy or completeness of this site and the content, suitability and general availability, or whether it is free from error or viruses.
The material should not be regarded by recipients as a substitute for the exercise of their own judgment. Past performance does not guarantee future performance.
The analyst(s) responsible for covering the securities within ACF’s products and services receive compensation based upon, among other factors, the overall profitability of ACF which may, from time to time, solicit business from any of the companies referred to in ACF’s research reports, services and materials. The analyst(s) responsible for covering securities on behalf of ACF may not hold a position in any or related securities within ACF’s sector universe on in any other sector in which ACF carries out research. The company does not hold any position in the securities mentioned in its products and services.
The contents of ACF’s research and related services are intended for professional investors. ACF Equity Research LTD (FRN 607274) is an Appointed Representative of City & Merchant Limited (FRN 154182) which is authorised and regulated by the Financial Conduct Authority. However, the contents of its research products and services are produced as if ACF Equity Research Limited is unregulated and consequently these products and services do not contain investment recommendations or ratings. Consequently, where any information on this site constitutes financial details, it is issued and approved as a marketing communication under FCA rules.
The information on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction in any country where such distribution or use would be contrary to law or regulation, or which would subject ACF to any registration requirement within such jurisdiction or country.
ACF, its directors, employees and agents accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of their services, products or materials. The information in ACF’s research reports, services and materials is provided with the understanding that ACF is not acting in a fiduciary capacity. Certain laws and regulations impose liabilities which cannot be disclaimed. This disclaimer shall in no way constitute a waiver or limitation of any rights a person may have under such laws and/or regulations.
However, to the extent permitted by law, we shall not be liable to any person or organisation for any direct, indirect, special, incidental or consequential damages, whether in contract, tort (including negligence), or otherwise, arising in any way from, or in connection with, the use of this site and/or the content. This includes without limitation, liability for any act or omission in reliance on the information on this site or any linked third-party site. ACF Equity Research all rights reserved. Additional information is available upon request.
We reserve the right to suspend access to this site at any time, either temporarily or permanently, and without notice and will not accept any liability for any service interruptions, delays, non-deliveries, mis-deliveries, or other inability to access or use the site.
ACF Equity Research Limited, 125 Old Broad Street, London, EC2N 1AR, U.K.
Tel: +44 (020) 7558 8974
Website:www.acfequityresearch.com
