Disclaimer with respect to this Site

This material and any publications on this website (“Site”) have been prepared solely for information purposes by SBG Securities Proprietary Limited (“SBG Sec”) and accordingly do not constitute an offer, a solicitation of an offer, invitation to acquire any security or to enter into any agreement, or any advice or recommendation to conclude any transaction (whether on the indicative terms or otherwise) and must not be deemed as such.

Whilst SBG Sec has taken care to ensure that the content and services on this Site are accurate, it does not warrant that the Site, any tools such as calculators, software, information, content or other services will be error-free or will meet any particular criteria of accuracy, completeness, reliability, performance or quality and expressly disclaim all such implied warranties. Whilst all reasonable precautions have been taken SBG Sec does not warrant that this Site or any downloads via this Site are free from viruses or destructive code. SBG Sec and any of its affiliates, shareholders, agents, consultants, directors, officers or employees are not liable for any damages whatsoever relating to your use of this Site or the services offered or information made available on this Site or your inability to use this Site or any of the information or services.

The views on the Site, unless expressed to the contrary, are the opinion of a trader or sales person only and do not necessarily do not reflect the official views of SBG Sec, nor should such views be considered as investment advice. It is not to be regarded as a “Research Report” under SEC rules or “Investment Research” as defined by FSA rules as it has not been prepared in accordance with legal requirements to promote the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.


Without derogating from the generality of the above, SBG Sec and/or any of its affiliate will not be liable for:

  • any delay by SBG Sec in the display of the information on the Site, including without limitation any information received from the JSE Limited or any relevant exchange(s) or any third party, irrespective of whether such information is indicated by SBG Sec to be available on a live basis;
  • any interruption, malfunction, downtime or other failure of the Site, or any of its components, for whatever reason;
  • any loss or damage arising from your orders, investment decisions, purchases or disposal of goods and services, including financial instrument(s) or currency, from third parties, based on the information provided on the Site;
  • any loss or damage with regard to your data or other data directly and/or indirectly caused by a malfunction of the Site, third party systems, power failures, unlawful access to or theft of data, computer viruses or destructive code on the Site or third party systems, programming defects or negligence on SBG Sec’s part;
  • any interruption, malfunction, downtime or other failure of goods or services provided by third parties, including, without limitation, third party systems such as the public switched telecommunication service providers, internet service providers, electricity suppliers, local authorities and certification authorities; and
  • any other event over which SBG Sec has no direct control over.


This includes without limitation any direct, indirect, special, incidental, and consequential or punitive damages howsoever arising and regardless of whether SBG Sec was advised of the possibility of such loss or damage. While every care has been taken in publishing information on this Site, no representation, warranty or undertaking (express or implied) is given and neither responsibility nor liability is accepted by SBG Sec and any member of the Standard Bank Group Limited (“SB Group”) or its employee and agents as to the accuracy of the information contained herein. SBG Sec and no member of the SB Group can be held liable for the use of and reliance on these opinions estimates and findings. All opinions estimates and findings contained on this Site may be changed after publication at any time without notice. The information contained on this Site is not intended as advice.


Should the information lead you to consider entering into any transaction in relation to the financial product you must take note of the following: there are intrinsic risks involved in transacting in any products; no guarantee is provided for the investment value in a product; any forecasts based on hypothetical data are not guaranteed and are for illustrative purposes only; returns may vary as a result of their dependence on the performance of underlying assets and other variable market factors; past performances are not necessarily indicative of future performances; unless a financial needs analysis has been conducted to assess the appropriateness of the product, investment or structure to your unique particular circumstances, SBG Sec cautions you that there may be limitations on the appropriateness of the information for your purposes and you should take particular care to consider the implications of entering into the transaction, either on your own or with the assistance of an investment professional.


Any transaction or agreement to perform certain services that may be concluded pursuant to the content of this Site shall be in terms of and confirmed by the signing of appropriate documentation, on terms to be agreed between the relevant parties. SBG Sec, or an associated company, may have effected or may effect transactions for its own account in any investment outlined in this Site or any associated verbal presentation or any investment related to such an investment. Prospective investors should obtain independent advice in respect of any product detailed on this Site, as SBG Sec provides no opinion or advice including investment, tax or legal advice and makes no representation or warranty about the suitability of a product for a particular client or circumstance. SBG Sec will only provide investment advice if specifically agreed to by SBG Sec in appropriate documentation, signed by SBG Sec. This information is to be used at your own risk.

There may be various tax implications to consider when investing in the product and you must be aware of these implications before investing. SBG Sec and SB Group and any of SB Group’s subsidiaries do not accept liability for the tax treatment by any court or by any authorities in any jurisdiction in relation to any transaction based on the information. It is strongly recommended that individual tax advice be sought before entering into any such transaction. Members of SB Group, SBG Sec or any SB Group’s subsidiaries, their directors officers and employees may have long or short positions in currencies or securities mentioned on this Site or related investments, and may add to, dispose of or effect transactions in such currencies, securities or investments for their own account and may perform or seek to perform advisory or banking services in relation thereto.

The contents of the Site may not be copied or reproduced in whole or in part without the prior consent of SBG Sec or SB Group. The investment services and information (the "Services") available on this Site are only available to residents of the Republic of South Africa ("RSA") and legal entities incorporated in terms of the laws of the RSA (collectively referred to as "RSA residents"). Any use or attempted use of the Services by anyone else could result in civil action or criminal prosecution. Without prejudice to the foregoing, the use or attempted use of the Services by persons or entities of the United States of America, Canada, the United Kingdom, Australia or Hong Kong are hereby expressly prohibited.


Disclaimer with respect to FACTA content on this Site

None of the products or services listed on this website (“Site”) is being offered to any natural person resident there, or any corporation, partnership, limited liability company, business or other trust, association, joint-stock company, fund or any form of enterprise similar to any of the foregoing, in each case that is organised or incorporated under the laws of the United States, or any other person or entity that would otherwise constitute a US Person.