The Guernsey Enterprise Agency operates a clear policy as regards conflicts of interest to enable our Advisors to undertake work outside of the Agency without compromise. Given the varied skills and resources of each or our Advisors, the Board of the Agency believes that, on occasions, such arrangements may be beneficial both to the Client and Advisor.

For this reason, and also recognising that each of our Advisors usually work for the Agency for just a few hours a week (at an hourly rate significantly below what they earn, or could reasonably expect to earn elsewhere), the Board of the Agency believes it would be inappropriate if the Agency’s terms of employment with its Advisors were to seek to prevent such arrangements.

At the same time the Board of the Agency feels that it is essential that in every instance when such discussions take place that:

• The Client of the Agency understands and accepts that such arrangements are purely between the Client and the Advisor – with no role, involvement or warranty of any form whatsoever by the Agency.

• Any advice or support subsequently provided by the Agency to the Client should be provided by another Advisor.

• Any advice subsequently provided to the Client by any other Advisor of the Agency will not however cover any aspect of the business arrangement between the Client and any Advisor of the Agency.

It is also expected that Advisors will not promote their services to clients during a meeting.

To enable this policy to be implemented fairly a letter to the above effect will be sent to any clients wishing to employ an Advisor from the Chairman and they will be asked if they are happy with this arrangement and if so to acknowledge as such by signing and returning a memorandum to the Chairman.

Copies of these documents can be made available on request.