Agency services

There are two main reasons why we have made changes to our Terms:

• Legal and regulatory updates: we have updated the Terms to take account of numerous legal and regulatory changes that have occurred since our Terms were last updated in 2018. The relevant changes are outlined in more detail in question 3 below and make up most of the changes made.
• Operational updates: we have also updated the Terms to reflect a few operational changes that have taken place since our Terms were last updated in 2018, as outlined in more detail in question 4 below.

• We are making these changes in accordance with our right in clause 19.1 of the Terms, which allows us to vary our Terms with written notice of such variation given to you.
• These changes will take effect on and from the 19^th of July 2023 the ("Effective date"). Certain regulatory changes will take effect on the date the relevant regulation comes into force (this is explained in further detail below).
• The terms of the new Terms will apply to all business you place with us after the Effective date. The changes will not affect business you placed with us before the effective date unless we and you are legally required to comply with such changes under applicable regulatory requirements.

• We have made changes to the Terms as in Section A, clause 1 “Definitions and Interpretations”, clause 4 the FCA’s new “Consumer Duty” (previously “Treating Customers Fairly”) and clause 10 “Product Governance” to align with Consumer Duty legislation, which will take effect from the 31^st July 2023 (for open Products and related services). In particular, we have updated clause 4 “Consumer Duty” and clause 10 “Product Governance” to outline our commitment to delivering good outcomes for Clients and to highlight processes that we have put in place to ensure that this commitment is embedded into the way that we conduct business. We have also set out our expectations for compliance by you in relation to the distribution of our Products.
• We have made changes to the Terms as in Section A, clause 1 “Definitions and Interpretations” and clause 21 “Data Protection”, and Section G “Data Protection” to ensure compliance with Data Protection legislation. A number of these changes are required to reflect updates to legislation following Brexit. You are also now required to take additional steps if you transfer personal data internationally. These additional requirements have been included to address case law developments in this area, changes to the associated regulatory guidance and changes to the approved sets of standard contractual clauses which parties can use when making those transfers.
• We have made changes to the Terms as in Section A, clause 14 “Financial Crime” and clause 17 “Prevention of the facilitation of tax evasion” with a view to preventing the commission of offences under Financial Crime legislation.
• We have made changes to the Terms as in Section A, clause 1 “Definitions and Interpretations” and clause 15 “Tax Reporting Regimes” in relation to your compliance with obligations under the automatic exchange of tax information regimes, and the information and documentation we may require from you for the purposes of our compliance with those regimes.
• We have made changes to the Terms as in Section A, clause 1 “Definitions and Interpretations”, Clause 14 “Financial Crime” and Clause 24 “Termination” to ensure greater clarity and protection in relation to sanctions laws.

• As explained above aside from the changes that we have made to bring the Terms in line with various legislative and regulatory requirements, the Terms has also been updated with a view to better reflect operational changes. We have made changes to Section A “General Terms”, Section C “Protection Product Business” and Section E “Mortgage Club Business” of the Terms. It is therefore important that you carefully read the Terms, particularly the general terms in Section A and those sections relevant to the business you place with us.

• We hope you have found this document useful, however if you do have any further questions after reading the new Terms, please email agency.enquiries@landg.com for further clarification.