Regulatory Disclosure

ABOUT PARK SQUARE

References to “Park Square Capital” or “Park Square” in this Website are to the group of entities comprising Park Square Capital, LLP and its affiliates. Park Square Capital, LLP (a limited liability partnership registered in England under the registered number OC309394) with its registered office at 2nd Floor Stratton House, 5 Stratton Street, London, W1J 8LA is authorised and regulated in the United Kingdom by the Financial Conduct Authority (the “FCA”). Park Square Capital, LLP is entered in the FCA’s Register with the FCA Register number 414858.

REGULATORY MATTERS

The materials on this Website are provided for general information purposes only. This Website (and the information contained herein) is not intended to and does not constitute an offer, solicitation, inducement, invitation or commitment to purchase, subscribe to, provide or sell any securities, service or product relating to any company or other investment vehicle advised and/or managed by Park Square or any company or other investment vehicle in which Park Square or its affiliates have invested. Nothing on this Website constitutes advice of any kind, including but not limited to professional or financial advice, nor a recommendation or endorsement in respect of any securities or interests in any securities. The information on this Website does not purport to be a comprehensive or representative statement of the matters referred to, or transactions entered into, managed or advised on by Park Square, or the law relating thereto. Visitors to this Website are encouraged to seek independent professional advice, including tax advice, from their legal, financial, personal and other advisers before making any investment or financial decision or purchasing any financial, securities or investment related service or product.

Unless otherwise expressly set out herein, Park Square makes no representation that any information or material on this Website is legal, appropriate or available for use or accessible in any location. This Website and its contents is not directed at, or intended for distribution to, any person who is a citizen or resident of (or located or established in) any jurisdiction where the use of this Website would be contrary to applicable law or regulation or would subject Park Square to any registration or licensing requirement in such jurisdiction. Persons who wish to access this Website are required by Park Square to inform themselves about, and to observe, any legal or regulatory restrictions which may affect their eligibility to access this Website. Professional advice should be sought in cases of doubt. If it is illegal or prohibited at your location for you to access or use this Website, then you should not do so. Those who choose to access this Website do so on their own initiative and are responsible for compliance with all laws and other restrictions relating to their access to and use of the Website.

REGULATORY DISCLOSURES

Stewardship Code

Conduct of Business Sourcebook rule 2.2.3R, requires Park Square to include a disclosure on its website stating the nature of its commitment to the UK Stewardship Code (“the Code”) issued by the Financial Reporting Council in July 2010. If the firm does not commit to the Code, it must state in general terms its alternative investment strategy. The Code is a voluntary code and sets out various principles relating to the level of engagement by investors with UK equity investors. Investors may either comply with the Code in full or choose not to comply with certain aspects of the Code, in which case an explanation of non compliance is required.
The seven principles of the Code are that institutional investors should:

  1. publicly disclose their policy on how they will discharge their stewardship responsibilities;
  2. have and publicly disclose a robust policy on managing conflicts of interest in relation to stewardship;
  3. monitor their investee companies;
  4. establish clear guidelines on when and how they will escalate their activities as a method of protecting and enhancing shareholder value;
  5. be willing to act collectively with other investors where appropriate;
  6. have a clear policy on voting and disclosure of voting activity; and
  7. report periodically on their stewardship and voting activities.

Park Square advises and manages funds which invest in various types of European and US debt securities. Park Square’s strategy does not involve any investment in UK listed companies, and Park Square does not anticipate making any such investments in the future.

For this reason, whilst Park Square supports the Code’s objectives and seeks to align its approach with the broad aims of the Code where applicable, it has decided not to commit to the principles of the Code. As part of its strategy Park Square does not anticipate actively engaging on a regular basis with management of investee companies and were there ever to be concerns over governance which might threaten the value of such investments Park Square would consider exercising its voting power to oppose the board and/or disposing of its investment.

Should Park Square’s investment strategy change, there will be a review of its commitment to the code at that time and appropriate disclosures will be made.

Pillar 3 Disclosure

Park Square is categorized as a IFPRU 125k limited license firm with the FCA, and is required to disclosure Pillar 3 information. The disclosure will be published on an annual basis as soon as practical after Park Square’s annual accounts have been audited and will be based on the position as at the ‘Accounting Reference Date’ which is 31st December. The disclosure document is held at Park Square’s office premises situated at 2nd Floor, Stratton House, 5 Stratton Street, London, W1J 8LA and can be viewed during office hours Monday to Friday 9-6pm. If the circumstances of the business change Park Square will consider whether more frequent publication is necessary. Park Square is not a member of a UK Consolidation Group.

Remuneration Disclosure

Park Square is categorized as a limited license firm with the FCA, and is therefore is subject to FCA rules on remuneration within SYSC Chapter 19A. The disclosure will be published on an annual basis as soon as practical after Park Square’s annual accounts have been audited and will be based on the position as at the ‘Accounting Reference Date’ which is 31st December. The disclosure document is held at Park Square’s office premises situated at 2nd Floor, Stratton House, 5 Stratton Street, London, W1J 8LA and can be viewed during office hours Monday to Friday 9-6pm. If the circumstances of the business change Park Square will consider whether more frequent publication is necessary. Park Square is not a member of a UK Consolidation Group.

MiFID II – Article 3(3) of RTS 28 and/or Article 65(6)

This disclosure if being made pursuant to Article 3(3) of RTS 28 and/or Article 65(6) of the MiFID II Delegated Organisational Regulation, which require firms to disclose, for each class of financial instruments traded for clients during the period, a summary of the analysis and conclusions drawn from the execution quality monitoring that Park Square has undertaken.

Please click here for our RTS 28 and/or Article 65(6) Disclosure.

For further details on any of the above information please contact a member of the Compliance Team on compliance@parksquarecapital.com

Park Square Capital, LLP
Last updated 30/04/2018

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