Terms of Use

The data provided on this website has been prepared by Structured Data Systems Ltd (SDS) in association with Union Securities International Limited (USIL), a UK based financial services advisor which is authorised and regulated by the FCA. All data and newsletter content is for informational purposes only and under no circumstances should it be construed as investment advice. Nor is it an offer to sell or the solicitation of an offer to buy any financial instrument.

By downloading from or viewing material on this website, you agree to the following Terms of Use. You agree that use of the content on this website is at your own risk. You (or any 3rd party for whom you are acting) agree to hold harmless SDS and USIL, its affiliates and related parties, including, but not limited to any principals, officers, directors, employees, members, clients, investors, consultants and agents (collectively, the 'SDS Related Persons') for any direct or indirect losses (including trading losses) attributable to any information on this website or in a research report. You further agree to do your own research and due diligence before making any investment decision with respect to securities of the issuers covered herein (each, a “Covered Issuer”) or any other financial instruments that reference the Covered Issuer or any securities issued by the Covered Issuer. You represent that you have sufficient investment sophistication to critically assess the information, analysis and opinion on this website. You further agree that you will not communicate the contents of reports and other materials on this site to any other person unless that person has agreed to be bound by these Terms of Use. If you access this website, download or receive the contents of reports or other materials on this website on your own behalf, you agree to and shall be bound by these Terms of Use. If you access this website, download or receive the contents of reports or other materials on this website as an agent for any other person, you are binding your principal to these same Terms of Use.

You should assume that, as of the publication date of any SDS and/or USIL report, Related Persons clients and/or investors and/or their clients and/or investors have a position (long or short) in one or more of the securities of a Covered Issuer (and/or options, swaps, and other derivatives related to one or more of these securities), and therefore stand to realize significant gains in the event that the prices of either equity or debt securities of a Covered Issuer decline or appreciate. SDS and USIL intend to continue to be free to transact in the securities of Covered Issuers for an indefinite period after an initial report is published. SDS Related Persons may be long, short, or neutral at any time hereafter, regardless of their initial position and notwithstanding any position represented in a previous web display or newsletter.

If you are in the United Kingdom, you confirm that you are accessing research and materials as or on behalf of: (a) an investment professional falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”); or (b) high net worth entity falling within Article 49 of the FPO (each a 'Permitted Recipient'). In relation to the United Kingdom, the research and materials on this website are being issued only to, and are directed only at, persons who are Permitted Recipients and, without prejudice to any other restrictions or warnings set out in these Terms of Use, persons who are not Permitted Recipients must not act or rely on the information contained in any of the research or materials on this website.

Reports and data displays are based on generally available information as well as field research, inferences and deductions through our own due diligence and analytical processes. Our source data is cross referenced with regulatory industry filings throughout multiple jurisdictions as well as from corporate presentations accessed from company specific websites. The quality and reliability of the data sources are subject to regular review but cannot be guaranteed in respect of accuracy, timeliness, or completeness. All expressions of opinion are subject to change without notice, and neither SDS nor USIL commit to update or supplement reports or any of the information, analysis and opinion contained in them.

SDS and USIL believe in making all reasonable efforts to manage potential conflicts of interest wherever underlying customers or potential customers are in a position to influence our editorial narrative. Our focus is the integrity of our data and we strive to maintain editorial independence.