INFORMATION ABOUT FINFOLLOW
FinFollow AB, Reg. No. 559331-2142, Odenvägen 17, 133 38 Saltsjöbaden, Sweden
GENERAL AND DEFINITIONS
- FinFollow: a Swedish company with registration number 559331-2142, which provides the platform (the “Platform”) available on AppStore, Google Play and web. Each Contributor who uses or logs on to the Platform and who wishes to enter into this Contributor Agreement must first agree to the FinFollow Terms and Conditions in any applicable form; consequently, the acceptance of the FinFollow Terms and Conditions are a prerequisite for entering into this Contributor Agreement.
- Contributor; a person who is a member of the Platform and offers a paid or non-paid subscription, through FinFollow to Followers to get access to investment account details, as per the Contributor’s configuration, and get notifications regarding buy and sell activity related to the investment account.
- Follower; a person who is a member of the Platform and subscribes (paid or non-paid subscription) to the Contributor to get access to the Contributor’s investment account details, as per the Contributor’s configuration, and get notifications regarding buy and sell activity related to the contributor’s investment account; for this purpose the Follower and the Contributor enter into a separate agreement (the “Follower Agreement”) which FinFollow is not a party to (FinFollow is only a mediation service through the Platform) unless FinFollow is acting as a Contributor.
- FinFollow is only a mediation service through the Platform; FinFollow does not provide any financial advice. FinFollow merely presents the Shared Data (as defined below) which the Contributor chooses to share. FinFollow and the Contributor are independent parties and there is no employment or similar relationship between FinFollow and the Contributor.
- Definitions used but not defined in this Follower Agreement are to be found in the terms and conditions available at http://www.finfollow.com/termsandconditions.
- The Shared Data (as defined below) is submitted on the Platform by the Contributor and the Contributor is solely responsible for the accuracy of the information it contributes on the Platform and that it acts in accordance with applicable laws and regulations.
- The account(s) that a Contributor chooses to share on the Platform are hereinafter referred to as “Shared Accounts”. The Shared Accounts will be displayed with the following data:
- percentage holdings in the specified financial instrument in relation to the total value of the Shared Account;
- the historical development (%) of the Shared Account since the investment account was opened;
- transactions indicating the date, time, financial instrument, price and buy/sell since the investment account was opened ; and
- account type.
In addition to above, the Contributor may also choose to display the following data related to the Shared Account;
- Funds invested per financial instrument and in total;
- Account balance; and
- Transactions indicating transaction amount.
- above is hereinafter referred to as “Shared Data”.
- The Contributor approves that FinFollow may obtain the Contributor’s data related to the Shared Accounts. The Contributor further approves that FinFollow keeps the data session and connection constantly open in order to provide updated information on the Platform.
- If the connection to the Contributor’s investment account is lost, the Contributor will be notified. The Contributor understands that the service offered to its Followers will be poor if the connection is lost, and therefore undertakes to, in the event of lost connection, re-establish the connection without delay.
- The Contributor must not integrate, present the Shared Data or use FinFollow as part of any other similar service such as the Platform without the prior written approval of FinFollow.
- The Contributor must not share the Shared Data outside the Platform to any person, whether to a Follower or any other person and whether against a fee or not.
- The Contributor must not use the Platform for dissemination of false or misleading information that may constitute market manipulation under the Market Abuse on Penalties for Market Abuse in Trading Financial Instruments Act (Sw. lag om straff för marknadsmissbruk vid handel med finansiella instrument) or similar regulation applicable to the Contributor and not to provide inside information or otherwise act with the aim of unduly influencing the valuation of a financial instrument.
- Breach against sections 3.5 – 3.7 will result in immediate termination of the Contributor Agreement and with the right for FinFollow to deny the Contributor any future access to the Platform.
CONTRIBUTOR AND MEDIATION SERVICE FEE
- The Contributor sets the monthly subscription price by which he / she offers Members of the Platform to become Followers (the “Follower Fee”). The Contributor is not allowed to change the subscription price for any ongoing subscriptions. The Contributor can always choose to terminate Follower subscriptions, and then offer the same Followers the same subscription at a new monthly price.
- The revenue share between the Contributor and FinFollow i.e. the revenue which FinFollow shall be entitled to (the “Mediation Service Fee”) is stated on FinFollow’s webpage www.finfollow.com. The Contributor shall pay all transaction fees related to his/her trades and shall also pay all fees related to the Stripe payments.
- The payment method available for the Follower to pay the Follower Fee is account/credit card via Stripe (whereby the Contributor and the Follower will have to accept Stripe’s separate Terms and Conditions for its service, available on http://www.stripe.com).
- In the event that the Follower for any reason can’t be charged the Follower Fee in the months following the start of the subscription, the Contributor and FinFollow respectively reserves the right to cancel the Follower’s access to the Contributor’s information. One (1) attempt to charge the Follower will be performed.
- The Mediation Service Fee and any payment transaction costs will be deducted from the Follower Fee pay-out to the Contributor (“Net Follower Fee”). The Net Follower Fee will be paid out via Stripe (the Contributor will have to accept Stripe’s separate Terms and Conditions for its service, available on http://www.stripe.com).
- The Contributor does not have any right to set-off of any fees under this Contributor Agreement.
- The Contributor is obliged to pay any local taxes and/or fees imposed by the issuer of Stripe. Contact Stripe for more information.
- FinFollow does not provide investment advice and does not prepare investment recommendations or analyses under MiFID, the Securities Markets Act (Sw. lag om värdepappersmarknaden) or the Financial Instruments Trading Act (Sw. lag om handel med finansiella instrument) or any other similar applicable regulation. FinFollow completely disclaims responsibility for any advisory comments or recommendations that Members contribute on the Platform. The Contributor confirms and understands that the Followers neither have the right nor the opportunity to turn directly to FinFollow (or the Contributor) for individually designed advice of any kind.
- The Contributor acknowledges that there is no Employment relationship between the Contributor and FinFollow.
- FinFollow has no responsibility for declaring or paying any taxes or fees, on behalf of the Contributor, for any revenue which the Contributor made when using FinFollow’s mediation service.
TERMINATION OF MEMBERSHIP
- Finfollow and the Contributor each have the right to terminate this Contributor Agreement to immediate termination, whereby the Contributor’s access to the Platform and the Shared Data and any other information posted thereon by the Contributor shall be immediately deleted.
- Upon termination, any Followers to the Contributor will be notified by FinFollow and refunded any amount corresponding to the remaining pre-paid monthly Follower Fee. The contributor will stand the payment transaction costs for the refunds.
APPLICABLE LAW AND DISPUTE RESOLUTION
- Interpretation and application of this Contributor Agreement shall be made in accordance with Swedish law and dispute in connection thereof shall be decided by a Swedish court.