INFORMATION CENTRE
INTRODUCTION AND PROCESS
“Most people never get wealthy simply because they are not trained to
recognize opportunities right in front of them”
Robert Kiyosaki
STRUCTURED NOTES
WHAT ARE STRUCTURED PRODUCTS?
Banks need cash reserves on their Balance Sheets to operate.
To attract larger investors, they structure attractive investment products that guarantee above-average levels of return, and capital protection – provided that certain terms and market conditions are met.
A Structured Product is generally a pre-packaged investment strategy using a bond & derivatives which provide exposure to a variety of asset types, such as a single security (share), a basket of securities, options, indices, or commodities.
They are predominantly fixed-term investments (tranche based) with a limited opportunity to invest (the open offer period), which can be anything from 4 to 8 weeks.
They can be offered in a variety of currencies and provide a variety of returns in terms of capital, income, and growth.
As a result, there is no single, uniform definition of a Structured Product.
Structured Products can be created to meet specific investor needs, ones which may not be possible to meet using more standard or traditional investments.
They are no longer seen as a niche market, and with advisers seeking whole of market solutions, they are an attractive and versatile solution within wealth management strategies.
These products are structured for a specific reason and to meet a specific demand.
The variety of underlying performance links provide a flexibility that more traditional investments can never provide.
WHY CONSIDER STRUCTURED PRODUCTS?
Structured Products combine the safety of a bank deposit account with the anticipated growth associated with exposure to the equity market.
Essentially, these products take advantage of key opportunities that can’t be met through the underlying market alone, giving you a defined outcome over your investment period.
Structured Products are becoming increasingly popular for investors due to the wide variety of payoffs and levels of protection that can be achieved by the different types of structures that are available.
People need to invest in all market conditions, and there are many views of investment risk.
At one end of the spectrum is cash: at the other, more exotic equity markets, commodities, or shares.
This risk/reward profile may differ from person to person, but they all have the same desire – a good return on capital and the return of their capital no matter what.
A picture of the ideal investment, Structured Products have the flexibility of design that can provide solutions for all seasons.
A Structured Product will have a defined objective.
It may be for income, growth, capital protection, or any combination thereof.
By using the components of a Structured Product, it is possible to deliver an optimised investment solution.
The last few years have seen the wide acceptance of Structured Products as a choice for many.
BENEFITS OF STRUCTURED NOTES TO THE ISSUING BANK
Banks need cash reserves on their Balance Sheets to operate.
By leveraging off our defined and contractually agreed cash deposits and terms they can build their businesses.
The Bank will use most of the funds for on-financing multiple other clients, and with a smaller portion, the Bank will buy and sell derivative options to meet the Structured Note pay-out conditions and meet the Bank’s profitability objectives.
These are the underlying assets defined and observed in the Structured Note contract which are typically large indices or large cap stocks.
BENEFITS OF STRUCTURED NOTES TO THE INVESTOR
Structured Notes are a great way of targeting a strong predictable income from investment-grade banks.
They define the levels of Downside Capital Protection and terms under which payments will be received. Like insurance for your investment.
Quarterly payments are designed to pay out in a defined range of rising, flat and down-market conditions.
What this means is that, although the investor will have a capped upside return foregoing any potential excess market growth, they will receive specified downside protection.
There are also contracts available that are designed to deliver longer-term growth rather than delivering quarterly income pay-outs.
Structured Notes are a passive investment option offering protection, predictability, and diversification.
WHERE DO STRUCTURED PRODUCTS FIT INTO A PORTFOLIO?
If we consider risk increasing from left to right and returns growing from bottom to top,
Cash in the bank in the bottom left corner delivers little to no return however in the top right corner you have direct equities that offer the possibility of high returns coupled with high risk.
Looking at predictable income assets, unlike Cash, Bonds and most Dividend Yielding Stocks, Cashbox Global is set to deliver strong income streams without having to take direct market exposure.
Whilst we give up the upside that direct stock ownership may present, the steady returns may well rival the performance of most equity funds without the associated costs and risk.
CONDITIONAL INCOME
A payment where the coupons are dependent on the performance of the underlying basket of stocks or other investment link.
MEMORY FEATURE
The memory feature is invaluable.
Should any income payments be missed because underlyings are below the income protection barrier, the memory feature will hold any missed coupons until the next observation date that all underlyings are above the income trigger.
At this point all missed payments will pay out.
UNDERLYINGS
Underlying investment link – normally one or more stock-market index or equity which are observed by way of options (not invested in directly).
What if an underlying company is sold?
The acquiring stock must reflect the performance of the acquired stock for setting the Strike Level to allow the note to move forward. This is applicable for a FULL CASH PURCHASE acquisition.
An example;
A Structured Note is launched with STOCK A on 21 Jan 2021. STOCK A has an original strike price of 150.
COMPANY B is acquiring COMPANY A on 21 Jan 2022. COMPANY B’s value at this date is 162 and COMPANY A’s is at 27. The Corporate Action is issued and the following calculation takes place.
As at 21 Jan 2022, COMPANY A is down 82% (i.e. strike price was 150, as at 21 Jan value has dipped to 27).
COMPANY A is no more, and all investors are now the proud owners of COMPANY B shares. Investors now have COMPANY B in the basket and the Strike Level for COMPANY B is recorded as 900 (which is what the strike price would have been for an 82% drop to equal 162 on 21 Jan 2022).
WHO IS IDAD
IDAD is our product structuring partner, based in the UK and they are governed by the highly regulated Financial Conduct Authority.
Together with Andrew, our Head of Product, we work with modelling software to shape and propose product structures for the Investment Banks to review, test, adopt and issue.
The company was established in 2002 and has an excellent track record developing Structured Products.
Together with IDAD we deliver investment solutions for investors that meet their requirements for strong levels of capital protection without sacrificing the opportunity for strong returns.
We are confident that their depth of knowledge and experience is unrivalled in this sector of the market.
Over the past 5 years, IDAD has issued approximately 200 Structured Notes annually with 100% of the notes delivering exactly as they were designed.
WHY CONSIDER INCOME STRUCTURED NOTES?
This product may be suitable for:
- Investors seeking income rather than growth and who are seeking the opportunity for higher returns than current cash rates at the time the product is launched.
- Investors looking to invest for the medium to long term, being happy to remain invested until maturity in the unlikely event that the product does not autocall.
- Investors who wish to use this investment as part of a well-diversified portfolio understanding how the product works.
EARLY EXIT & LIQUIDITY
Structured Investments are fixed term investments, and the investor needs to be happy that the capital may be tied up until the end of that term.
It is possible for an investor exit early, however the price received will be determined by the secondary market.
The price is determined by several factors: the time to maturity, the market levels at the strike date, current market conditions and volatility.
The investor could receive less than they invested.
AUTOCALL
Autocallable Structured Notes are designed to mature (or call) before the end of the fixed term if certain predefined criteria are met.
For example, where an investment is linked to the performance of a stock market, the criteria (often called the trigger) for the early maturity may be that at a predetermined date (say 6 months or 1 year after the product starts), the index is at or above its initial level.
If the early maturity is triggered, the investor receives both his capital and any predefined returns, and then can reinvest once more.
To provide the early maturity feature and an attractive coupon a level of capital risk is incurred.
The risk is limited to a predefined level (safety net) with the performance of the linked investment needing to fall say by 50% before the capital return is impacted.
By fixing the returns at the start of the investment there is always the chance that the actual market returns are more than the fixed coupon.
But the reverse is equally true.
The Bank builds in Autocalls to effectively cap its cost of capital and also to then exercise its right to convert the options into shares. ( that’s where the Bank makes further profit.) The options are often structured into a trade on the other side of the Note (which the Note is not involved in…).
WHY IS IT POSSIBLE THAT THE VALUE OF MY PORTFOLIO ON THE TRADING PLATFORM MAY BE LESS THAN THE AMOUNT I INVESTED IN THE STRUCTURED NOTE?
A trading platform cannot see the terms of a Structured Note contract. The platform only reports on the daily pricing of the individual underlying stocks.
Remember – you do not own the stocks. The stocks are used as a reference to trigger coupon payments and other features outlined in detail in the Structured Note contract.
The issuing bank underwrites your full capital invested. It is only at the final observation at the end of the investment term, if there has been no autocall (early maturity), that the value of the underlying stocks has relevance to your capital. This relevance is in relation to the capital protection feature. If the underlying stocks are above the capital protection level specified in the contract, you will receive 100% of your capital. If any of the stocks have dropped below the capital protection level you will receive your capital back on a 1:1 basis, as if you had owned the lowest performing stock, unless specified otherwise in the contract.
The coupons or returns earned by way of a Structured Note contract are pre-determined interest coupons. This applies whether it is a lump sum payout from a Growth note, or a quarterly coupon payout from an Income note.
Conditional Income Notes and Fixed interest type Notes are interest.
A dividend is a portion of a company’s earnings that can be paid out to the shareholders of that company. (This portion is not predictable or defined but depends on the company’s profits and results, and the determination by the directors to distribute such).
In the Cashbox Global Structured notes, we own the contract. We never own the underlying companies—they are simply the referenced stock in the underlying basket. Hence a Note is both legally and contractually unable to distribute a dividend.
CBG selects only large central banks that are more likely to receive government support, such as bailouts or takeovers, in case of financial trouble. A bank failure impacts not just investors but also lenders, like those involved in mortgages and corporate funding, causing significant disruption to the broader economy. Central banks aim to minimize such fallout (as seen with Credit Suisse). Investors, however, are not protected and would be treated as creditors during a liquidation process, which is why we prioritize using large central banks.
RISKS
The risks to consider are the strength of the Issuing Bank, choice of the underlyings, fixed return and term of the investment.
THE ISSUER
Investors will be exposed to the credit risk of the Issuer.
If the Issuer becomes insolvent or cannot make the payments on the Product for any other reason, investors could lose some or all their investment.
The ability of the Issuing Bank to honour the contract is most important as the product is issued off the Bank’s balance sheet.
This is the reason why Cashbox Global only deals with the world’s strongest A rated banks.
THE UNDERLYINGS
While indices are widely used as the underlying reference basket, a basket of stocks is becoming more common, and it is important that the criterion for the selection is sound.
Questions to consider are:
- Is it a strong and reputable company?
- Do market analysts feel the outlook is good?
- Do the analysts have major concerns or is the company involved in discussions about mergers etc.?
Investors must be clear about the level of risk they are taking on. If an investor has qualms and would be reluctant to invest directly into the shares of a company, perhaps it is not right for them.
THE FIXED RETURN
The returns are predefined, and investors forgo any growth in the underlyings which exceeds the fixed level determined in the investment contract.
TERM
Should an investor need to sell their investment before the end of its term, they will need to do so on the secondary market which will likely mean they get back less than they invested.
RISK VS REWARD
Investors may feel that only 100% capital protection will do.
However, what you need to understand is that the minimum return on such a structure is unlikely to be much more than you could achieve in a deposit account or with a fixed rate bond.
With interest rates at historic lows, to obtain better than cash returns, something must give.
Higher returns come with either less probability of achieving them, more risk to capital, or both.
Cashbox Global strives to achieve a balance of deep protection and enhanced returns.
CAPITAL PROTECTION & EUROPEAN BARRIER
Our Structured Notes are designed for high levels of capital protection whilst delivering enhanced predictable income streams.
This is done by sacrificing some of the potential upside of the underlying index or stocks in exchange for deep levels of protection on the downside.
These products are contractually designed to produce returns in a wide range of market trading conditions including sideways and declining markets.
Capital protection and the clause “not capital protected” needs to be looked at from two perspectives:
- The protection during the term is guaranteed/underwritten by the Issuing Bank, as part of the terms and conditions of the contract. Risk to capital during this period would be at the instance of a bank failure/collapse. Therefore, we are fastidious about the credit rating of the Bank, and only deal with A rated banks.
- The final protection of capital is measured at the last observation, i.e. the maturity date, and is subject to all the shares in the reference basket being above 50% of their starting price. If any of those shares fall below 50% of their start price, the capital is then at risk on a 1 for 1 basis.
For example, assume the worst performing share is -52% of start (i.e. it has more than halved), then capital will be reduced on the same basis.
Hence the selection of the underlying stocks by the structurers and the Investment Bank, is also of paramount importance.
This contractual protection is known as “a European barrier”.
HOW TO INVEST
Contact us on support@cashbox.global
You will require a trading platform. Should you need a platform we can share the platforms that our investors are currently using.
Decide on the Structured Product you wish to invest in and Cashbox Global will provide you with the relevant ISIN number.
Products open for investment will be found on our website www.cashbox.global
Once you have funded your platform you will instruct them to place the investment on your behalf using the relevant ISIN number.
Your funds will flow from your platform directly into the Structured Product and any payments and capital due will flow back to your platform.
No funds ever flow through Cashbox Global.
TRADING PLATFORM
An investor requires an account with a regulated online trading platform, also known as a custodial platform, to access Cashbox Global structured notes. The platform holds the contract on behalf of the investor, may hold multiple currencies, other securities and provide a reporting function.
The account is held in the investor’s name and The investor instructs their platform to invest in the product on their behalf, quoting the relevant product ISIN number provided by Cashbox Global.
All reporting and funds flow is between the investor and their platform. Cashbox Global does not have sight of the investor’s account. A highly regulated and controlled environment.
Investors have many suitable online platforms to choose from and in making their decisions of whom to use Investors would typically look at the convenience, minimum investment amounts, costs & service offerings provided by the platform.
While Cashbox Global is platform agnostic, we do offer an optional service whereby we aid investors in opening a Ramsey Crookall (Isle of Man) trading account. This is an ongoing service ensuring you have the support you always need. For this service we charge a moderate administration fee of 0.25% per annum which includes:
- Assistance Opening your Account.
- Dealing and Withdrawal Instructions: Help in completing and understanding dealing and withdrawal instructions, ensuring that all transactions are processed accurately.
- Understanding Valuation Reports: Guidance on how to read and interpret your valuation reports, so you can stay informed about your investments.
- Ongoing General Queries: Prompt responses to any general questions or concerns you may have about your account or the platform.
Investors are by no means obligated to use this service. Below is a list of platforms that hold Cashbox Global products that are popular with the members of our community.
PLATFORMS
- Ardan https://www.ardan-international.com/
- Capital International Group https://www.capital-iom.com/
- Credo Capital https://www.credogroup.com/
- DMA – Money Better https://moneybetter.co/za/
- Exante https://exante.eu/
- Glacier International https://www.glacierinternational.com/
- Infinox https://www.infinox.com/
- Moventum https://www.moventum.lu/
- Nedbank Private Wealth (Existing accounts only) https://www.nedbankprivatewealth.co.za/
- Ramsay Crookall https://ramseycrookall.com/
- Randswiss https://www.randswiss.com/
- Ravenscroft Group https://www.ravenscroftgroup.com/
- Sanlam Private Wealth https://sanlamprivatewealth.sanlam.com/
- SwissQuote Bank https://en.swissquote.com/trading
- Velocity Trade https://velocitytrade.com/
- Hapoalim Bank https://www.bankhapoalim.com/
- FIBI Bank
- Vontobel
- A J Bell
Please contact info@cashbox.global should you need assistance.
LIFE COMPANIES
Custodian Life https://custodianlife.com/
FPI https://fpi.co.za/
Glacier https://www.glacier.co.za/
Hansard https://www.hansard.com/
Providence Life https://www.providence.life/
Quilter https://platform.quilter.com
RL360 https://www.rl360.com/row/aboutus/
Sovereign Group https://www.sovereigngroup.com/
Utmost https://utmostinternational.com/
Please contact support@cashbox.global should you need assistance.
ISIN NUMBER
ISIN stands for International Securities Identification Number.
An ISIN is a 12-digit code that is used to uniquely identify a security’s issue, e.g. shares, bonds, etc.
This is currently the main method of securities identification worldwide and is used to track and trace investment products.
MINIMUM INVESTMENT
The minimum investment amount may vary, and it is important to check at the time of investment.
Usually, the minimum investment for Cashbox Global Structured Notes starts from 10,000 US Dollars, Pounds Sterling or Euro (when available).
Investments would normally be denominated in whole 1,000s (so £1,000 or $1,000 etc.) so subscriptions should be rounded down to the nearest whole 1,000.
BESPOKE PRODUCTS
Cashbox Global also designs specific investments for a more limited audience.
The needs of the investors are identified, e.g. what level of capital protection is required, what is the currency, what style of return, income or growth etc.
We then add flesh to the bones of their requirements and deliver a unique and exclusive solution for the investor.
Please note that with a bespoke issue, a minimum investment of 250k or more will be required to ensure good value for investors, the level being dictated by the complexity of the product, the underlying investment links, and the Issuers we work with.
CASHBOX GLOBAL
Cashbox Global is a Mauritian Registered Financial Services Business providing its community of like-minded investors with strong growth and predictable income streams.
We collaborate on product design, create awareness, educate investors, and provide access to Structured Notes.
TYPES OF STRUCTURES PRODUCTS
There are all sorts of ways of putting together products to generate growth or income and different returns, but the basic principles are straightforward.
Products broadly fall into two categories:
- Those that offer capital protection and some stock market exposure, and
- Those that pay a higher return generated at the cost of some risk to the investor’s capital.
SNOWBALLING COUPON
Working on the same principle as Autocallable Notes, a ‘Snowballing Coupon’ is when the coupons accrue until the maturity is triggered.
For example, if the product has a fixed term of 5 years, with annual trigger points and pays a coupon of 10%, if the trigger event happened at the end of year 3, the investor would get his capital plus 3 coupons, i.e. 30%.
To provide the early maturity feature and an attractive coupon, a level of capital risk is incurred.
The risk is limited to a predefined level (safety net) with the performance of the linked investment needing to fall say by 50% before the capital return is impacted.
By fixing the returns at the start of the investment, there is always the chance that the actual market returns are more than the fixed coupon.
But the reverse is equally true.
WHAT AM I ACTUALLY BUYING?
A common misconception is that a Structured Investment is the same as a mutual fund; or they believe that they have invested directly into the underlying index, commodity etc.
Investment takes the form of a loan to the Issuer who agrees to pay back to them the capital and returns being offered subject to a set of predefined conditions.
A cash investment does the same thing.
PAYMENT DATE
This is the date that the coupon payment is released via Euroclear to your trading platform.
Once the payment has cleared, the trading platform then allocates the funds to the relevant investor’s account.
This can take up to five working days.
OBSERVATION DATE
The date that the value of the underlying basket of stocks will be observed and compared to the starting value to trigger a possible coupon payment, autocall or capital protection trigger.
FEES
Structured Product fees and costs are usually embedded in the price of the investment.
Cashbox Global receives a contract raising fee from the Issuing Bank.
This is a contract structuring fee and does not come from the investor’s capital.
100% invested goes into the product, i.e. if the terms of the product state a 3% return pq, that is what you will receive.
US RESIDENTS
Cashbox Global Structured notes are not for distribution, directly or indirectly, in or into the United States of America (“United States”) or its possessions. Cashbox Global structured note issuances are not an offer to sell securities, or the solicitation of any offer to buy securities, nor shall there be any offer of securities in the United States or in any jurisdiction in which such offer or sale would be unlawful. The Cashbox Global Structured Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in the United States absent registration or exemption from registration under the Securities Act.
UK SIPP
To be advised
UK ISSA
To be advised
AUSTRALIAN SUPERANNUATION
Disclaimer
Cashbox Global is authorised and regulated by the Financial Services Commission (Mauritius), under license number GB19024598. Cashbox Global (Pty) Ltd is an authorised Financial Services Provider, regulated by the Financial Sector Conduct Authority (South Africa), FSP 52958.
Information and documents provided in relation to an investment are provided to assist an investor to make an informed decision. The information and documentation should not be a) regarded as advice and b) considered as a recommendation or an offer to purchase the investment.
Cashbox Global does not furnish investment advice nor does it make any recommendations regarding any investments and/or financial instruments and products. All information should be read and understood by the investor before investing to ascertain the full risks and terms associated with the investment. Investors should obtain independent financial, tax and/or legal advice before making an investment. Investments must be executed via an authorised eligible counterparty.
Past performance of investments with the same issuer, counterparty and/or structured note provider, or investments with the same investment theme or a similar thematic reference basket, is not necessarily an indication of future performance. Investors should not make an investment purely based on the expected return profile of the investment.
Investment in securities such as Structured Notes is not risk free and has risks associated with the investment. Cashbox Global does not make any guarantees with respect to the protection of capital or returns. Investors may lose a part or of all their investment capital when investing in securities such as Structured Notes.
FaiS DISCLOSURE
In terms of the General Code of Conduct of the Financial Advisor and Intermediary Services Act, No. 37 of 2002 (“FAIS Act”), the
purpose of this Disclosure is to furnish all clients, current and potential, with prescribed information and services about Cashbox
Global (Pty) Ltd (“FSP”) and their Representatives.
DETAILS OF THE FINANCIAL SERVICES PROVIDER
The FSP is a Category I Financial Services Provider approved by and registered with the Financial Sector Conduct Authority
(“FSCA”) in terms of the FAIS Act.
| Financial Services Provider | Cashbox Global (Pty) Ltd |
| Registration Number | 2021/117605/07 |
| Legal Status of FSP | Private Company |
| Contact Person | Chad Pope |
| Business Address | 13 Provan Avenue, Modderfontein, Gauteng, South Africa, 1645 |
| Postal Address | P.O. Box 193, Modderfontein, Johannesburg, 1645 |
| Telephone | 087 2655 498 |
| E-mail Address | info@cashbox.global |
| Website | www.cashbox.global |
DETAILS OF THE FINANCIAL SERVICES PROVIDER’S FINANCIAL SECTOR CONDUCT AUTHORITY APPROVAL
| FSP Number | 52958 |
| Date of Authorisation | 17 April 2023 |
| Product Categories | Structured Deposits |
| Financial Services Categories | Intermediary Services – The FSP is not authorised to furnish financial advice |
| Special Conditions | There are no special conditions levied against the FSP by the registrar |
| Intermediary Services Focus | Listed Global Structured Notes: - Thematic idea generation; - Engagement with Structured Note Providers and Issuers during the structuring and pricing of new Structured Notes; - Distribution of Structured Notes; and - Investor facilitation and assistance in terms of the opening and/or funding of client accounts with stock broking firms and monitoring of the timely execution by the stock broking firms of investors’ trade instructions. |
| Status of Representatives | Representative under Supervision in terms of the FSP’s Category I License |
| Fit and Proper Requirements | All Representatives of the FSP are required and currently meet the relevant fit and proper requirements as required by the FAIS Act |
| Acknowledgement of Responsibility | The FSP accepts responsibility for the rendering of intermediary services by and the actions of its Representatives |
| Letter of Authority | The FSP appoints Representatives to render intermediary services on its behalf. The Section 13 Letter of Authority for the FSP’s Representatives is available on request by e-mail to info@cashbox.global. |
| PI Cover | The FSP holds Professional Indemnity Cover |
| Financial Statements | The FSP has to annually produce unaudited annual financial statements to registrar |
DETAILS OF THE FINANCIAL SERVICES PROVIDER’S FINANCIAL SECTOR CONDUCT AUTHORITY APPROVAL
| Name & Surname | Riaan van der Vyver |
| Identity Number | 740413 5067 087 |
| Telephone | (021) 851-1580 |
| E-mail Address | riaan@alphacubecapital.online |
COMPLIANCE OFFICER
| Compliance Company | Complysure CC |
| Compliance Number | CO43 |
| Compliance Officer | Tom Liebenberg |
| Physical Address | Omibloekom, 45 Mossop Street, Onrusriver, 7201 |
| Postal Address | Omibloekom, 45 Mossop Street, Onrusriver, 7201 |
| Telephone | (028) 316-4286 |
| Telefax | (028) 316-4285 |
| E-mail Address | complysure.1@gmail.com |
STRUCTURED NOTE PROVIDERS/STRUCTURED NOTE ISSUERS/STOCK BROKING FIRMS REPRESENTED
| 1. | IDAD Ltd | 2. | IDAD Africa (Pty) Ltd |
STATUTORY DISCLOSURES
| Waiver of Rights | No person may ask a client or offer any inducement to a client to waive any right or benefit conferred on you by or in terms of any provision of the General Code of Conduct of the FAIS Act. |
| Confidentiality | The FSP adheres to the Protection of Personal Information Act, No. 4 of 2013 (“POPI Act”). In terms of the POPI Act, all information obtained or acquired about the client shall be protected and remain confidential unless the FSP or its Representatives are required by law or any other regulatory body to disclose such information. |
| Potential Conflict of Interest | 1. There is currently no foreseen potential conflict of interest between the FSP and any Structured Note Provider, Structured Note Issuer, Structured Note Guarantor, Stock Broking Firm and/or Investment Platform: - The FSP did receive more than 30% of its last year’s revenue from a particular Structured Note Provider. - The FSP doesn’t directly or indirectly have material ownership and/or financial interests in a Structured Note Provider, Structured Note Issuer, Structured Note Guarantor, Stock Broking Firm and/or Investment Platform. - The FSP is not an associated company of a particular Structured Note Provider, Structured Note Issuer, Structured Note Guarantor, Stock Broking Firm and/or Investment Platform. 2. In accordance with legislation: - Should any conflict of interest arise, either in general or specific to a particular client, the FSP is required to disclose in writing to a client any conflict of interest in respect of that client, including the measures taken to avoid or mitigate the conflict, disclose any ownership and/or financial interests, other than immaterial ownership and/or financial interests and explain the nature of any relationship or arrangement with a third party that gives rise to a conflict of interest, in sufficient detail to a client to enable the client to understand the exact nature of the relationship or arrangement and the conflict of interest. 3. The FSP’s Conflict of Interest Management Policy is available on request by e-mail to info@cashbox.global. |
| Complaint Procedure | 1. As a client you have the right to complain should you feel that your rights have been prejudiced, or you have been aggrieved in any way. 2. Please note that prior to lodging a serious complaint with the authorities (listed below) ideally a client should consider lodging a complaint in writing, via e-mail directly to the FSP. 3. The FSP has established an internal complaint resolution system which records complaints. Access to the complaint and a copy of the complaint resolution is available to a client, who laid a complaint, during office hours upon request the client. 4. Should a client have any serious complaint, this must be submitted to the FSP in writing, via email and must contain all relevant information. Copies of all relevant documentation must be attached thereto. 5. The FSP also welcomes any complaint, serious or not, brought to us also telephonically which the FSP will gladly assist in resolving to client satisfaction as best as possible. 6. A copy of the FSP’s complaints’ resolution procedure is available on request by e-mail to info@cashbox.global |
| Contact Details: Ombud for Financial Services | Should confirmation be provided by the FSP that it is unable to resolve a client complaint, you as client are free to pursue the matter further with the relevant Ombud details below. FAIS Ombud P.O. Box 74751, Lynwood Ridge, 0040 Tel: 0860 324 766 / (012) 470-9080 Fax: (012) 348-3447 Website: www.faisombud.co.za |
PRIVACY NOTICE
Who we are
Cashbox Global is committed to protecting the information we hold about you.
This notice provides you with information about how, when, and why we use your personal information and how we keep it secure. It also sets out your rights under law, our responsibilities to you and how you can contact us.
This notice concerns any information that we collect in the following ways:
- Information we receive through our website www.cashbox.global (the ‘Cashbox Global Website’), where applicable. Additional details of the information we receive through the Cashbox Global Website is set out in Part A of this notice; and
- Information we receive as a result of the products and services that we offer, including through our related support, mobile or cloud-based services.
Should you have any questions about who we are, or what we do with your personal information, please contact us using the information provided in Part B
If you provide us with personal information about other people – such as a joint applicant or your dependents – you must show this privacy notice to them, and you must ensure that you have their consent to provide their personal information to us.
A description of the types of personal information about you that we collect, use, process, and share.
Details of information which you give to us, which we gather ourselves and which we seek from third parties.
A description of what we use your personal information for, why we use it and why we are allowed to use it.
An explanation of whether you have to provide personal information to us and what happens if you do not.
Information about third parties that we share your information with.
A notification that your information is transmitted to our structuring partners and platform services providers that are based in South Africa, Mauritius, Isle of Man and/or United Kingdom.
Part A.
Personal Information we hold about you
As with other financial services companies, we collect personal information about you. Most of this information is necessary for legitimate business purposes.
When you apply to become a client or investor, and during the course of our dealings with you, we will collect some personal information about you. This includes what you tell us about yourself and what we learn by having you as a customer. Whether this collection is mandatory, or voluntary, will depend on the reason why we are collecting your personal information. For example, if you want to become a client or investor of ours, we require certain mandatory information from you to be able to add you to the relevant register of the product you subscribe to. If you refuse or fail to supply this information, we will not be able to enter into a business relationship with you. However, if you voluntarily contact us about our funds and you are not a client or investor, you are in control of what information you volunteer, and which is subsequently collected by us.
We have set out below a description of the types of personal information about you which we will collect and process in different situations when you interact with us.
01. Personal information that we generally process regardless of how you contact us, or for whatever reason, includes:
- your title, full name, your contact details, including for instance your email address, home, and mobile telephone numbers; and/or
- your country of residence, home address, correspondence address (where different from your home address).
02. If you submit an application to become a client or investor or are already one, in addition to the above personal information, we may collect the following from you:
- your date of birth and/or age.
- financial information, including your bank account information, the amount you are looking to invest, and any monthly payments you may wish to make, your investment selection(s) and your bank details for any relevant income or redemption payments to be made.
- proof of identification in the form of copies of your passport, driving licence or other identity documents like utilities bills (unless you are a UK resident who has passed our electronic verification checks);
- personal information and contact information which you provide in correspondence with us, whether by email, written letter, or telephone call or through our online enquiry system (this will be information volunteered by you, it could include the reasons why you have decided to invest, or where your investment money has come from, by way of example); and/or
- information relating to your use of our service, any other Cashbox Global products and services you currently have, you have applied for or you have previously held.
03. When you interact with the Cashbox Global Website, in addition to the above personal information, we may collect the following from you:
- where you have a product/products, financial information such as portfolio and account numbers, as well as your login information, including your username and password;
- technical information about the products and services that you use, and how you use them. For more information see ‘Cashbox Global Website’ section.
Where we get your personal information from
We may have information about you that you did not provide to us yourself.
In relation to the categories of personal information described above, we collect personal information in the following ways:
Information that you provide to us.
We typically collect the personal information directly from you as part of our client /investor on-boarding process when you engage and/or complete an investment application. Additionally, we collect personal information from you when you correspond with us (whether by telephone, e-mail, or through the Cashbox Global Website) or complete a request for a product or service. The nature of our relationship with you will determine the kind of personal information we might ask for.
Information that we collect or generate about you.
We will continue to collect additional personal information that we learn about you during the course of providing our products and services, such as:
- the way you use our online services; and/or
- information which you provide in correspondence to us (whether by telephone, e-mail, or through the Cashbox Global Website), including contact history.
Information that we obtain from other sources.
Sometimes we collect additional information about you from third parties. Specifically, we will obtain information about you from:
- a third party who you have appointed to deal with your investments on your behalf (such as an investment advisor or wealth manager)
- a third party that you may use to place your investments.
- a third party that structures the investment products.
How we use your personal information and why
We need to use some personal information to provide you with our service and to fulfil our contract with you.
We mainly use the personal information we hold about you where it is necessary for us to perform our obligations to you and/or to enable us to comply with legal obligations. Your personal information will also be used when it is in our legitimate interest. A legitimate interest is when we (and sometimes third parties) have a business or commercial reason to use your information. But even then, our legitimate interest must not unfairly go against what is right and best for you.
Each of these categories is a ‘legal basis’ that allows us to process your information under data protection law. We have provided further information below about what this means, in terms of how we process, or the purposes for processing your personal information relevant to each legal basis.
We need to use some personal information to provide you with our service and to fulfil our obligation to you
- to communicate with you about your investment(s), product or service (i.e., periodic statements), to verify that your instructions are genuine and to process them accordingly.
- to notify you about changes to your investment(s) (such as a change of name, or amendments to the investment policy of a fund).
- to investigate and deal with service, complaints, or disputes.
- to contact you when we have updated this Privacy Notice and consider that it is necessary to advise you about any changes to the way we are processing your personal information.
- to transfer your personal information to any third party who replaces a Cashbox Global company as a provider of services to you; and/or
- to share your personal information with third parties (such as our service provider who assists us administer or process transactions on our behalf) if required for the management of your product or service.
Use of your information is necessary for us to comply with our legal obligations.
We need to use some personal information to comply with legal obligations.
- to enable a register of investors to be maintained.
- to comply with requests made by you when exercising your legal rights (such as those contained within this Privacy Notice).
Use of your information which is necessary to pursue our ‘legitimate interests’.
We are allowed to use your personal information to pursue our own interests as long as your fundamental interests do not override these.
This will include processing which, on balance, we consider is in our legitimate interests and which do not cause you undue prejudice. Our legitimate interests which are applicable to our processing of your personal information include:
- for management and audit of our business operations including accounting.
- reviewing and improving the information provided on the Cashbox Global Website to ensure is it user friendly and to prevent any potential disruptions or cyber-attacks.
- conducting analysis required to detect malicious data and understand how this may affect your IT system.
- to determine the target market for our existing and future products (e.g., determining whether a product is meeting the needs of investors);
- to contact you when we have updated this Privacy Notice and consider that it is necessary to advise you about any changes to the way we are processing your personal information.
- when, to achieve the above purposes, we share your personal information with the following categories of individuals or organisations:
- members of our Group.
- our legal and other professional advisors, auditors.
- other organisations and businesses who provide services to us under contract such as investor platforms and product structurers, back up and server hosting providers, IT software and maintenance providers, document storage providers and suppliers of other back-office functions.
- (Should you have any questions about the above listed categories of people and/or organisations, please contact us using the contact information provided in this Privacy Notice.)
If you have further questions about the third parties, we share your personal information with, please contact us. The relevant details are set out in Part B.
Use of your personal information with your consent
Where we are relying on your consent to process your personal information, you are entitled to withdraw your consent at any time.
However, as noted above, we are usually processing your personal information based on another reason, in which case withdrawing your consent will not change how we process your personal information.
If you wish to withdraw your consent you may do so by contacting us using the information in Part B.
Unlike the uses described above, sometimes we rely on your consent to use your personal information. We will rely on your consent:
- when you request that we share your personal information with someone else and consent to that (for example if you engage the services of a professional advisor after you have become a client or investor of ours and request that we provide information about your account to that professional advisor).
- where you have opted-in to receiving marketing communications (and have not subsequently opted-out or requested to be removed from any marketing list); and/or
- when you volunteer information to us in correspondence, which information we need in order to respond to your enquiry, and only where lawful to do so.
You have the right to withdraw your consent at any time – the contact information is given in Part B. Please note, if you do withdraw your consent, this will mean that we will stop similar future processing. However, the withdrawal of your consent will not invalidate any processing which we previously undertook before you withdrew your consent.
Please note that, where we rely on another lawful reason to process your personal information which does not require your consent, withdrawing your consent will not affect that processing. This is the case where the processing is necessary for our performing our contract with you, or where we must process your personal information to comply with law, as described above. We will continue to process your personal information for those lawful purposes notwithstanding the fact that you have withdrawn your consent for one of the above listed purposes that requires your consent.
Whether you must provide personal information
If you want to use our services, there is some information which you will be required to provide to us because we need that information to provide our services to you.
We will tell you when the personal information requested is mandatory, or if it is voluntary. If you do not provide that personal information that is mandatory, we will be unable to properly provide you with the services and/or perform all obligations under our agreement with you.
Where you choose not to provide us voluntary personal information this may reduce the quality of service, we are able to provide (for example, if you only provide us your postal address and do not provide us with your e-mail address, we will only be able to contact you by postal mail).
Will we share your personal information with others?
Your personal information will be shared with other businesses.
If you have further questions about the third parties, we share your personal information with, please contact us using the details in Part B.
Yes, there are times when we are either mandated by law to disclose your personal information to third parties (such as Tax authorities). In addition, where we or a fund contracts third parties to help us run our business or fulfil the operation of the fund, we will also disclose your personal information to those third parties, but always subject to appropriate contracts and safeguards.
We will never sell, rent, or trade your personal information.
We will share your information with others who have a duty to keep it secure and confidential, and where we have a lawful reason for doing so, as explained above. The categories of organisations that we will share your information with are:
- our or the structuring or platform service providers, agents and sub-contractors who administer or process information on our behalf.
- professional advisors, such as lawyers, accountants, ; and/or
- anyone we transfer our rights and duties to – e.g., if we restructure or sell our business.
We cannot control all use of your information by third parties (especially where they are not our service providers and under contract with us, for example personal information shared with regulators). As such, where your personal information has been shared with another data controller entity, you will have rights over how that third party handles your personal information and you can and should contact those parties directly if you want to exercise your rights in relation to those third party’s uses of your personal information.
Where we transfer your data
We process your data in the following jurisdictions:
South Africa
Mauritius
Isle of Man
United Kingdom
Where we transfer your personal information, the safeguards that we will use to protect your personal information include contractual obligations imposed on the recipients (as defined in their privacy policies) of your personal information. Those obligations require the recipient to protect your personal information to the standards required. Safeguards also include requiring the recipient to subscribe to ‘international frameworks’ intended to enable secure data sharing and where the framework is the means of protection for the personal information.
How long we will keep your information
Your information may be held for a considerable period after our relationship ends (or indefinitely if anonymised).
If you have further questions about our data retention practices, please contact us using the details in Part B.
We will keep your personal information as long as you are a client of, or investor with, the Cashbox Global Group.
If we anonymise your personal information so that it can no longer be associated with you, it will no longer be considered personal information, and we can use it without further notice to you.
Your rights (‘data subject’ rights)
You have a number of rights over your personal information including a right to object to the processing of your information.
You will not be able to use these rights in all circumstances.
You are also entitled to make a complaint to the regulator.
Under data protection law you have a number of rights (set out below). Please note that these rights are not without limitation, and in some instances may not be available.
Where applicable, you have the right to:
- be informed about our processing of your personal information.
- have inaccurate/incomplete personal information corrected/completed.
- object to the processing of your personal information.
- restrict the processing of your personal information.
- have your personal information erased.
- request access to your personal information and to obtain information about how we process it.
- move, copy, or transfer your personal information digitally.
- object to automated decision making, such as profiling.
To exercise your rights as set out above, please write to us using the details in Part B. There is no fee for making these requests. However, if your request is excessive or unfounded, we can charge a reasonable fee or refuse to comply with it.
You also have the right to lodge a complaint with your local data protection regulator if you think that we have infringed upon any of your rights. Information about your local data protection regulator is set out in Part B.
Pursuant to applicable law, you will not be discriminated against for exercising certain of your rights as set out above.
Cashbox Global Website and other websites
The content of this notice is likely to change over time. We will tell you if it changes.
We will always have the latest version available on the Cashbox Global Website.
If you use the Cashbox Global Website, we may collect technical information through the use of cookies. For example, what pages of the Cashbox Global Website were visited by each user, any documents downloaded and security incidents.
For more information on the cookies used by Cashbox Global, please see our Cookie Policy.
If you use the Cashbox Global Website and follow a link from it to another website different privacy policies may apply. Prior to submitting any personal information to a website, you should read the privacy notice applicable to that website.
Future changes to this privacy notice
We reserve the right to update this privacy notice at any time, and we will notify you when we make any substantial updates.
We will also notify you in other ways from time to time about the processing of your personal information. For example, if you take out a new product with us.
The latest version of this privacy notice can always be found at www.cashbox.global
Part B.
Contact Information
www.cashbox.global
info@cashbox.global
How you can contact us with questions.
Email us: Info@cashbox.global
Write to us:
Cashbox Global
6th Floor, Tower A,
1 CyberCity
Ebene
Mauritius
United States of america Restriction
The Securities Act of 1933, as amended (the Securities Act), regulates offers and sales of securities in the United States. All offers and sales of securities must be made pursuant to a registration statement, except for certain exempt securities and exempt transactions. Every offering needs to be registered or rely on an exemption from registration: it is the specific offering that is registered, not a series or class of securities. If no exemption is applicable, under the central provision of the Securities Act, Section 5, it is unlawful to offer a security unless a registration statement has been filed as to the security, and it is unlawful to sell a security unless a registration statement is in effect as to the security.
A registration statement is a filing with the SEC that includes a base prospectus, which contains general information about the issuer and the securities being registered. Disclosure about the issuer in its annual, quarterly and other periodic reports is typically incorporated by reference into the base prospectus. The SEC is a government agency that is the primary overseer and regulator of the US securities markets. Its mission is ‘protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.
Cashbox Global Company Profile
Cashbox Global Brochure
