{% extends "public_base.html" %}
{% block title %}{{ BRAND_NAME }} · Disclaimer{% endblock %}

{% block main %}

<section class="public-section public-section--callout public-section--warning">
  <h1 class="public-section__head" style="border:0; margin:0 0 6px;">
    Financial disclaimer
  </h1>
  <p style="margin:0; font-size:15px;">
    <strong>{{ BRAND_NAME }} is not investment advice.</strong>
  </p>
  <p style="margin-top:6px; font-size:12px; color: var(--muted);">
    This page is part of, and qualifies, the
    <a href="/terms">Terms and Conditions</a>.
  </p>
</section>

<section class="public-section">
  <h2 class="public-section__head">In short</h2>
  <ul>
    <li>Everything published here is for <strong>educational and
        informational purposes only</strong>.</li>
    <li>Nothing on this site is a buy or sell recommendation, a personal
        recommendation, or an inducement to deal in any financial
        instrument.</li>
    <li>{{ BRAND_NAME }} is not a regulated financial firm. It is not
        authorised by the Financial Conduct Authority and is not a
        registered investment adviser in any jurisdiction.</li>
    <li>The output is not tailored to your circumstances, objectives,
        tax position, or risk tolerance.</li>
    <li>Past performance does not predict future returns. Investing
        carries the risk of losing money, including the principal.</li>
  </ul>
</section>

<section class="public-section">
  <h2 class="public-section__head">About the AI output</h2>
  <p>
    The strategic log and indicator summaries are generated by large
    language models from publicly available market data and news. They
    can be wrong, incomplete, or out of date. Numbers can be misread.
    Models occasionally generate inaccurate or invented information
    (often called &ldquo;hallucinations&rdquo;). Treat them as a
    <em>prompt to think</em>, not as facts to act on.
  </p>
  <p>
    The portfolio feature is a browser-only composition viewer: it
    parses a CSV you supply, computes neutral statistics (weights,
    sector / currency / concentration breakdown), and shows them to
    you. Your holdings stay in your browser; they are never sent to
    or stored on the server. There is no AI commentary on your
    portfolio.
  </p>
</section>

<section class="public-section">
  <h2 class="public-section__head">Before you act on anything</h2>
  <p>
    Consult a properly qualified, regulated financial adviser who knows
    your full situation. Read the source documents (issuer accounts,
    fund prospectus, etc.). If you are not in a position to lose the
    money you would put at risk, do not put it at risk.
  </p>
</section>

<section class="public-section">
  <h2 class="public-section__head">Jurisdiction</h2>
  <p>
    {{ BRAND_NAME }} is operated from {{ OPERATOR_JURISDICTION }}. The
    Service is not directed at, or intended for distribution to or use
    by, any person in any jurisdiction where such distribution or use
    would be contrary to local law or regulation.
  </p>
  <p>
    No part of this Service constitutes an offer or solicitation of
    securities to any US person within the meaning of US securities law.
  </p>
  <p>
    The Service is not directed at retail or professional clients in any
    EU/EEA member state, nor in any jurisdiction where its provision
    would require local licensing or registration. Where any output of
    the Service could be construed as an &ldquo;investment
    recommendation&rdquo; within the meaning of
    <strong>Article&nbsp;3(1)(35) of Regulation (EU) 596/2014 (Market
    Abuse Regulation)</strong>, with conduct duties under
    <strong>Article&nbsp;20 MAR</strong> and
    <strong>Commission Delegated Regulation (EU) 2016/958</strong>
    (or the UK onshored equivalent), the operator&rsquo;s position is
    that the Service publishes <em>non-personalised commentary on
    public market data by a non-regulated source for educational
    purposes</em>, and does not directly propose a particular
    investment decision in any specific instrument. The operator has
    no position in, and no remuneration linked to, the specific
    instruments mentioned in any individual piece of commentary.
  </p>
  <p style="font-size:12px; color: var(--muted);">
    {# TODO(legal): final wording on the MAR paragraph above is pending
       lawyer sign-off. See docs/read-markets-compliance-changes.md. #}
  </p>
</section>

<section class="public-section">
  <h2 class="public-section__head">No warranty</h2>
  <p>
    The service is provided &ldquo;as is&rdquo; without warranties of any
    kind. To the maximum extent permitted by applicable law, the operator
    excludes liability for any loss arising from use of, or reliance on,
    the content. See the <a href="/terms">Terms and Conditions</a> for the
    full limitation of liability.
  </p>
</section>

<section class="public-section">
  <p style="font-size: 12px; color: var(--muted);">
    Questions about this disclaimer:
    <a href="mailto:{{ OPERATOR_EMAIL }}">{{ OPERATOR_EMAIL }}</a>.
  </p>
</section>

{% endblock %}