ACCOUNT TYPES
You understand that you are responsible for selecting the type of Account (for example, Individual, Joint, or Corporate) that is appropriate for your investment objectives and circumstances.
ACCOUNT STATUS
Pebble Capital Ltd. (PEBBLE CAPITAL LTD.) agrees to open and maintain one or more Accounts for the undersigned Account Holder(s) and to act as broker-dealer in the execution and clearance of transactions for the purchase and sale of financial securities. The Account Holder(s) confirms that all information provided in connection with the Account Agreement is complete and accurate and undertakes to promptly notify PEBBLE CAPITAL LTD. of any material changes, including changes to financial information. If the Account Holder is an individual, or if this is a Joint Account, the Account Holder(s) warrants that they are of legal age and of sound mind. Unless otherwise indicated in the Account Application, no person other than the Account Holder(s) named therein has any interest in the Account(s). The Account Holder(s) agrees that PEBBLE CAPITAL LTD. may verify relevant information through third parties, including credit reporting agencies. This Account Holder’s Agreement and any Account(s) opened under it become effective only upon acceptance by an authorized representative of PEBBLE CAPITAL LTD. at its principal office.
ACCURACY OF NEW ACCOUNT APPLICATION AND CREDIT INFORMATION
You represent that all information provided to PEBBLE CAPITAL LTD. is current, accurate, truthful, and complete, and that no person other than those listed on the Account Application has any beneficial interest in the Account.
IDENTITY VERIFICATION FOR ANTI-MONEY LAUNDERING PURPOSES
We are required by applicable anti-money laundering laws and regulations to verify the identity of each Account owner. PEBBLE CAPITAL LTD. therefore requires you to provide one valid form of government-issued identification when you submit your Account Application.
APPROVAL OF TRANSACTIONS
All transactions agreed with your Investment Representative are deemed final once executed. Each transaction is subject to review and approval by a Compliance Officer and to the consent of the Account Holder prior to processing.
RISKS
You understand that all investments involve risk, including the possible loss of the entire amount invested. Investments in speculative securities and initial public offerings may involve a higher risk of loss and may not be suitable for all investors. Past performance of any security or strategy does not guarantee future results or returns. All orders you place are based on your own investment decisions and are your sole responsibility, and you agree not to hold, or seek to hold, any of our officers, directors, employees, agents, subsidiaries, or affiliates liable for any trading or other losses you may incur.
COMMISSIONS, FEES, AND OTHER COSTS
The Account Holder(s) agrees to pay all commissions, fees, and other charges assessed by PEBBLE CAPITAL LTD. in connection with the Account(s). PEBBLE CAPITAL LTD. is authorized to convert funds in the Account Holder’s Account(s) to and from relevant foreign currencies at the applicable rate of exchange, plus any associated fees charged by PEBBLE CAPITAL LTD.
TAPE RECORDING
You authorize PEBBLE CAPITAL LTD. to record telephone conversations between the Account Holder(s) and PEBBLE CAPITAL LTD., whether or not a periodic tone signal is used. You consent to the use of such recordings in any forum for the purpose of resolving disputes.
EXCHANGE RULES
All transactions handled by PEBBLE CAPITAL LTD. on behalf of the Account Holder(s) are subject to the rules, regulations, customs, and interpretations of the relevant exchange or market (and its clearing house, if any) on which the transactions are executed, as well as all applicable international governmental regulations. PEBBLE CAPITAL LTD. shall not be liable to the Account Holder(s) for any action it takes in order to comply with such rules or regulations.
PROCEEDS OF TRANSACTIONS
Proceeds from the sale of any securities will not be remitted to the Account Holder(s) if there is any outstanding debit balance in the Account. Any such proceeds may be applied to reduce or eliminate any outstanding margin or other debit balance in the client’s Account.
CONSENT TO JURISDICTION
The Account Holder(s) agrees that any claims, disputes, actions, or proceedings arising out of or relating to this Agreement shall be resolved exclusively in an arbitration forum agreed with PEBBLE CAPITAL LTD. The Account Holder(s) further consents and submits to the jurisdiction of any competent international court as may be necessary to enforce any arbitration award or judgment.
AMENDMENTS AND GUARANTEES
This Agreement constitutes the entire agreement between PEBBLE CAPITAL LTD. and the Account Holder(s) with respect to its subject matter and supersedes all prior oral and written agreements between the parties. No provision of this Agreement may be waived, supplemented, or modified except in a written instrument signed by an authorized officer of PEBBLE CAPITAL LTD. at its headquarters. No person, including any associated persons, introducing brokers, fund managers, commodity trading advisors, or pool operators, is authorized to guarantee profits or against losses. The Account Holder(s) agrees to promptly notify the PEBBLE CAPITAL LTD. Compliance Department if any such guarantee is made or suggested.
MARGIN
The Account Holder(s) acknowledges that, in a margin Account, they are borrowing against the value of securities held in their Account and that they understand the requirements and risks associated with maintaining a margin position.
PURCHASES AND SALES
To execute purchase orders, PEBBLE CAPITAL LTD. generally requires that your Account contain available funds equal to or greater than the total purchase price of the securities. To execute sell orders, PEBBLE CAPITAL LTD. generally requires that the securities be held in the Account Holder’s Account. Any purchase order accepted without sufficient funds, or any sell order accepted without negotiable securities in the Account (whether inadvertently or otherwise), may be subject to liquidation or buy-in at the Account Holder’s expense. If full payment is not received by the settlement date for a purchase, the Account Holder(s) agrees to pay the amount due in PEBBLE CAPITAL LTD.’s preferred manner on or before settlement. If securities sold are not delivered by settlement date, PEBBLE CAPITAL LTD. may liquidate positions in the Account, and the Account Holder(s) will be liable for any resulting losses and all associated costs.
VERBAL AUTHORIZATION
PEBBLE CAPITAL LTD. may execute transactions upon the verbal authorization of the Account Holder(s) on any market, public or private, where such business is conducted. The Account Holder(s) understands that PEBBLE CAPITAL LTD. does not provide direct market access, that orders may be executed at prices different from quoted prices during periods of high volume, liquidity constraints, rapid price movement, or volatility, and that orders may receive partial executions at different prices.
REPORTS AND NOTICES
If any inaccuracies or discrepancies appear on an Account statement, the Account Holder(s) agrees to notify PEBBLE CAPITAL LTD. immediately by telephone or email upon receipt of the statement, and in any case within 48 hours. If the Account Holder(s) does not respond within this period, executed orders and statement entries will be deemed correct and conclusive, and PEBBLE CAPITAL LTD. will be released from any responsibility in that regard. The Account Holder(s) is responsible for maintaining contact with PEBBLE CAPITAL LTD. at all times while they have open market positions or outstanding orders and are not available at their usual address or telephone number to receive reports. Trade confirmations, statements, and similar notices sent to the Account Holder(s) shall be deemed conclusive and binding.
DEBIT BALANCES
All monies, securities, negotiable instruments, open positions in contracts, options premiums, commodities, and other property now or in the future held by or in safekeeping with PEBBLE CAPITAL LTD. shall constitute security for the Account Holder’s obligations under this Agreement. The Account Holder(s) grants PEBBLE CAPITAL LTD. a lien and right of setoff over such property and authorizes PEBBLE CAPITAL LTD. to sell or otherwise use such property to satisfy any obligations not promptly paid. The Account Holder(s) remains liable for any resulting deficit (debit) balance in the Account(s). If the Account Holder(s) does not promptly pay any debit balance and PEBBLE CAPITAL LTD. undertakes collection action, the Account Holder(s) agrees to hold PEBBLE CAPITAL LTD. harmless for all related losses and expenses and to remain liable for the debit and all costs of collection, including reasonable attorney’s fees.
SIGNED DOCUMENTATION
PEBBLE CAPITAL LTD. requires that each Account Holder execute an original Account Holder’s Agreement with original signatures to be kept on file with the Accounts Department. At PEBBLE CAPITAL LTD.’s sole discretion, documents signed and transmitted electronically (including by email) may be accepted and treated as original documents, and such signatures shall be deemed original for all purposes.
ACKNOWLEDGEMENT
By signing this Account Registration, you acknowledge that you have received, read, and understood a copy of the Account Agreement and all incorporated agreements and disclosures. You acknowledge that your Account and your relationship with PEBBLE CAPITAL LTD. will be governed by the Account Agreement and such incorporated documents, and that fees apply to establishing, maintaining, transacting in, and transferring assets out of your Account. If you trade on margin, you acknowledge that you are borrowing against the value of securities held in your Account and that you understand the requirements and risks associated with margin trading. You further acknowledge that PEBBLE CAPITAL LTD. is relying on the information you have provided in approving your Account and extending credit, and that such information is true, correct, and complete.
