FINANCIAL SERVICES GUIDE OF TERENCE EDWARD CLARKE
(Holder of Australian Financial Services Licence No: 338941)
Terence Edward Clarke
212 Greens Road
ORIELTON, TAS....7172
Phone: 03 62653191
Fax. 03 62651448
Mobile: 0418326994
Email: t.clarke@pinelane.com.au
1. General
The promotion of horse racing schemes is a financial service regulated by the Corporations Act and requires Terence Edward Clarke, as the holder of an Australian Financial Services Licence (“Licence”), to provide you with this Financial Services Guide (“FSG”) prior to him promoting an interest in a horse racing syndicate to you.
This FSG is intended to inform you of certain basic matters relating to the services that Terence Edward Clarke may provide to you, including the services he is authorised to provide, how you will pay for those services, how Terence Edward Clarke gets remunerated and what to do if you have a complaint. It is intended that this FSG should assist you in determining whether to utilise any of the financial services that Terence Edward Clarke is authorised to provide.
This FSG contains general information only and specific information relating to horse racing schemes promoted by Terence Edward Clarke is contained in the Product Disclosure Statement for each scheme which is available from Terence Edward Clarke upon request.
2. Who will be providing the financial service?
Terence Edward Clarke holds the licence in his own name and provides the financial services referred to in section 3 of this FSG in his capacity as principal, and not as an authorised representative of any other licensee.
The financial services referred to in section 3 of the FSG are provided either by Terence Edward Clarke himself or on his behalf by employees or authorised representatives engaged by him in accordance with the Corporations Act.
Terence Edward Clarke, as principal, is solely responsible for the financial services that he provides pursuant to his Licence.
AFS Licensees are required to have adequate Professional Indemnity insurance or an alternative arrangement approved by ASIC. Terence Edward Clarke carries Professional Indemnity insurance. The policy incorporates cover for all current and past employees of the promoter associated with this promotion at time of registration.
3. What financial services is Terence Edward Clarke authorised to provide?
Terence Edward Clarke is authorised to issue interests in horse racing schemes. To obtain an interest in a horse racing scheme you need to obtain from Terence Edward Clarke a Product Disclosure Statement in relation to the relevant horse and complete the purchaser’s acknowledgement and application.
Terence Edward Clarke is also authorised to provide general advice in relation to horse racing schemes. Terence Edward Clarke is not authorised to provide personal advice (being advice that takes into account a person’s objectives, financial situation and needs) in relation to horse racing schemes.
4. How do I pay for financial services provided to me by Terence Edward Clarke?
There is no charge for general advice given to you by Terence Edward Clarke relating to the acquisition of an interest in a horse racing scheme.
If you do choose to invest in one of Terence Edward Clarke’s horse racing schemes you will be required to pay the purchase price for your relevant interest in that scheme. The purchase price for an interest varies according to the particular horse the subject of a racing scheme. The Product Disclosure Statements for Terence Edward Clarke’s relevant syndicated horses contains details of the purchase price.
5. How does Terence Edward Clarke get remunerated for his provision of financial services?
As stated above, Terence Edward Clarke does not charge for giving general advice in relation to horse racing schemes.
In relation to the acquisition of an interest in a horse racing scheme, the purchase price that you pay Terence Edward Clarke represents a proportion (based on the number of participants in the scheme) of the acquisition costs for that horse, the costs of promotion (a breakdown of these costs is contained in the Product disclosure Statement for each syndicated horse) and in some cases a margin.
6. Is an interest in a horse racing syndicate an investment suitable to my needs and financial circumstance?
As stated in section 3 of this FSG, Terence Edward Clarke gives general advice only and does not give personal advice that takes into account an investor’s objectives, financial situation and needs.
A horse racing syndicate is a speculative investment with its own risks and each investor should obtain their own independent advice as to the suitability of such an investment for them.
A copy of the Product Disclosure Statement for each horse racing scheme containing important details about that scheme is available for you upon request and we suggest you study it prior to making any decision to invest.
7. What do I do if I have a complaint about a financial service provided to me?
If you have a complaint about either the advice that Terence Edward Clarke has given you or about an interest in a horse racing scheme that you have acquired from him take the following steps.
First - contact Terence Edward Clarke himself and discuss your complaint with him. Terence Edward Clarke has an internal dispute resolution process that he will utilise in an effort to resolve your complaint as quickly as possible.
Second – if your complaint is not resolved to your satisfaction after 5 days of having notified and discussed it with Terence Edward Clarke, you have a right to complain to the Financial Ombudsman’s Service (an external dispute resolution body of which Terence Edward Clarke is a member), whose details are:
GPO Box 3 Phone. 1300780808
Melbourne Fax: (03) 96136399
Victoria, 3001 Email: info@fos.org.au
Web: www.fos.org.au