26. Disclaimer

© Copyright London Bullion Market Association, October 2017. All rights reserved.

All material presented in A Guide to the London Precious Metals Markets (the “Guide”), unless specifically indicated otherwise, is under copyright to the London Bullion Market Association (the “LBMA”), the London Platinum and Palladium Market (the “LPPM”) and London Precious Metals Clearing Limited (the “LPMCL”). None of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party, without the prior express written permission of the LBMA, LPPM and/or the LPMCL. The LBMA has instructed G Cubed Metals Ltd (“G Cubed”) to prepare this Guide.

The LBMA, LPPM, LPMCL and/or G Cubed (together Companies or individually Company) and any of the Representatives of the Companies, make no representation as to the accuracy or completeness of the information contained herein. Information, opinions and estimates contained in the Guide are subject to change without notice and the Companies or any of its Representatives are not responsible for updating such information, opinions and estimates. The Companies and its Representatives accept no liability whatsoever for any direct or indirect loss arising from the use of the material presented in the Guide unless such liability arises under specific statutes or regulations. In no circumstances shall the Companies or any of its Representatives have any liability for consequential or special damages. The term “Representative”, when used with respect to a Company, means such Company’s employees, directors, partners, officers, advisors, legal counsel, management consultants or any other person acting as its representative with respect to the information contained in this Guide.

The purpose of the Guide is to explain the operation of the London precious metals markets. It provides a description of the infrastructure, products and participants of the markets. The information presented in the Guide is provided to you for information purposes only and is not to be used or intended to be used or considered to be an offer or a solicitation of an offer to sell or to buy or subscribe for any financial product described in the Guide. Information and opinions presented in the Guide have been obtained or derived from sources believed by any of the Company’s or any of its Representatives, to be reliable. The Companies and its Representatives cannot be held responsible for any decision made on the basis of the Information contained herein.

The Guide is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject the Companies or any of its Representatives to any registration or licensing requirement within such jurisdiction. The contents of the Guide do not constitute or purport to constitute investment advice to any person. Nothing in the Guide constitutes or purports to constitute investment, legal, accounting or tax advice nor a representation that any investment is suitable or appropriate to the individual circumstances of any recipient of the Guide.

The Companies or any of its Representatives have not undertaken to review all applicable laws and regulations of any jurisdiction in which this Guide may be used and therefore any party using this Guide should consider the application of any relevant jurisdiction’s regulatory, tax, accounting, exchange or other requirements that may exist in connection with entering into a financial product described in this Guide.

The Guide is published by the LBMA, LPPM and the LPMCL.

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