1.1 We are Lightyear U.K. Ltd, a private limited company incorporated in England and Wales (company number 14367910) with its registered address at 256-260 Old Street, London EC1V 9DD, United Kingdom.

1.2 Lightyear U.K. Ltd is authorised and regulated by the Financial Conduct Authority ("FCA") as an investment firm (reference no. 987226).

2.1 This document (the “Agreement”) together with the Service Fees and any other terms that you and we agree from time to time, create a legally binding agreement between you and Lightyear U.K. Ltd ("we", "us", “our” or "Lightyear").

2.2 We also provide you with other important information which relates to the Services. This includes our Risk Disclosures, Order Execution Policy, Conflicts of Interest Policy and Privacy Policy, as updated from time to time.

2.3 This Agreement applies to every Lightyear Account that we offer, except where we tell you otherwise. In addition, the S&S ISA and Cash ISA Terms set out in Part B will also apply to any Lightyear ISA that you have.

2.4 In this Agreement, capitalised words and expressions have the meanings ascribed to them in the Definitions section in Part C.

2.5 This Agreement relates only to the provision of investment services by us to you through the Lightyear App. Any other services will be governed by our other terms as appropriate. This Agreement will apply to you from the date that you accept it. You will receive a copy of this Agreement from us in a durable medium, i.e. via email that you signed up with.

2.6 We have disclosed certain important information in the Lightyear App and on our website. You need to read the important information carefully before submitting any Order or using any of the Services that are available through the Lightyear App.

Customer classification

2.7 We need to classify you as a certain type of client. You will be treated as a Retail Client unless you request to be classified as an elective Professional Client, can provide evidence you meet the criteria for being so classified, and we agree in writing. You can ask to change your classification at any time, but we can choose to reject your request. If you are a Professional Client and want to be treated as a Retail Client, we will do so for all Services, Transactions, or Instruments. If you're unsure about your classification as a Retail Client under FCA Rules, consult a financial advisor before making investment decisions.

Lightyear Accounts

3.1 We offer the following types of Lightyear Accounts:

3.1.1 a general investment account (“GIA”);

3.1.2 a cash ISA (“Cash ISA”); and

3.1.3 a stocks and shares ISA (“S&S ISA”).

3.2 You may open a Cash ISA or a S&S ISA, without the requirement to also open a GIA, subject to Clause 3.3 below.

3.3 Customers who wish to receive cash rewards, including those earned from referring a friend, must open or have an active GIA. Please note that Lightyear does not allow for cash rewards to be deposited into an ISA. Non-monetary rewards (such as removal of fees) are permissible for ISAs. Please see the Lightyear Refer a Friend Terms for more details.

Execution-only services (no advice)

3.4 We provide an execution-only service, which means we do not offer advice of any kind on the Instruments you choose to trade. When you submit Orders through the Lightyear App, they are transmitted to an executing Broker for processing, and we do not assess whether any particular Instrument is suitable for you.

3.5 We don't provide personalised investment recommendations, investment advice or tax advice. Any explanation or information we give you as part of our Services is not intended, and should not be considered, to be advice. Any decision to acquire or sell an Instrument is solely yours and we are not responsible for such decisions.

Order execution process

3.6 Orders submitted through the Lightyear App are transmitted to a Broker, who is responsible for execution. In some cases, we may perform a manual review (e.g., for fund orders), which could result in slight delays.

3.7 Once an Order is sent to a Broker, we cannot control its execution, and there is no guarantee it will be accepted by us or the Broker. Your Order may be rejected if it poses excessive risk to the Broker or if trading is unavailable or suspended for the Instrument.

3.8 When you submit an Order, you’re committing to a binding Transaction. You can only cancel an Order forwarded to a Broker before the Broker sends it to the relevant trading venue for execution or other third parties, as applicable (e.g. if the Instrument is not tradable). You can cancel Limit Orders before they execute.

Fees and charges

3.9 We may charge you fees and charges for using our Services (the “Service Fees”) which are set out and kept up to date on our website. See more on the Service Fees in Clause 25. Third-party charges, such as those applied by issuers, payment providers, custodians, or other service providers, may also apply and are covered further in Clause 26.

The key risks of using our Services

3.10 Investing carries risk. This means that you need to be sure that investing is the right thing for you. If you're unsure about using our Services, you should consider speaking to an independent financial adviser.

3.11 By using our Services, you acknowledge and understand that:

3.11.1 The price of Instruments can be unpredictable. The value of Instruments may go up or down, and this can happen rapidly.

3.11.2 You may lose some or all of the amount that you invested through the Lightyear App.

3.11.3 Past performance of an Instrument is not a guide to its future performance.

3.11.4 Additional restrictions and limitations apply to Lightyear ISAs. These change from time to time in accordance with relevant tax rules and they depend on your personal circumstances. There may be tax implications for you if you breach these rules. If you are not sure about what these restrictions and limitations are and whether they impact you, you should seek advice from a financial and/or tax adviser.

3.11.5 More information on the risks associated with our Services and the Instruments we make available is set out in our detailed Risk Disclosure.

4.1 By opening a Lightyear Account and using our Services, you agree that:

4.1.1 you will, at all times, behave reasonably and honestly towards us, our employees, and anyone acting on our behalf;

4.1.2 you will not engage in behaviour that is inappropriate, abusive, discriminatory, harassing, defamatory, or otherwise unfair when using our Services or interacting with us. This includes, but is not limited to, the use of offensive language, threats and spam;

4.1.3 if any of the information you have provided to us changes, you will update us as soon as reasonably possible;

4.1.4 you will cooperate fully with any requests we make for additional or updated information or documents at any time during your relationship with us, in order to satisfy our legal, regulatory, or internal risk management obligations. This may include, without limitation, proof of identity, proof of address, bank statements, and documents evidencing the source of funds or wealth. You must provide such information within the timeframe we specify;

4.1.5 you must not open or maintain a Lightyear Account if you are physically resident in, or become resident in, a jurisdiction where our Services are not offered, restricted, or prohibited. You must notify us immediately if your residency changes to such a jurisdiction. You are solely responsible for ensuring that you are legally permitted to access and use the Services from your jurisdiction, and we shall have no liability for any consequences arising from your failure to do so;

4.1.6 your use of the Lightyear App will always comply with this Agreement and Applicable Law;

4.1.7 you will not use any algorithms or electronic trading programs or systems to interact with the Lightyear App;

4.1.8 you must not use your Account to trade on behalf of third parties, unless expressly permitted by us;

4.1.9 you will not, by any action or omission, deliberately, recklessly, or negligently engage in market abuse or market manipulation, nor encourage or require others to do so. If we suspect your Account is involved in market abuse or market manipulation, we reserve the right to take appropriate actions, including refusing to act on your instructions or taking actions outlined in Clause 33. We are not obligated to provide reasons for these actions or be liable for any resulting losses;

4.1.10 your use of market data related to Instruments and transactions executed via the Lightyear App provided through the Lightyear App (such as real-time or delayed prices, volumes, and other related data, collectively "Market Data") is strictly for purposes connected to our Services. You agree not to:

(a) use Market Data for commercial purposes, or

(b) publish or share Market Data with anyone else, whether or not they use our Services.

How you can contact us

5.1 If you have any questions about your Agreement with us or need to contact us about your Lightyear Account, you can contact us via the Lightyear App or by email at support@lightyear.com.

How we will contact you

5.2 By using our Services, you agree that we may contact you through any method, including email, phone, post, the Lightyear App, or other means, using any contact information you have provided or that is otherwise available, for any matters related to this Agreement.

5.3 This includes receiving transaction confirmations, which we will normally make available via the Lightyear App promptly after execution, and periodic account statements showing your instruments and funds, which we will make available at least once per month. You may also receive other reports, documents, or materials we are required or choose to provide to you under this Agreement.

5.4 We may use the email address you provide to us when creating your Account to contact you. You may still request hard copies if needed.

5.5 If we need to send or return to you any documents, statements, or notices, we will usually email you at the address you have given us and/or send you a notification via the Lightyear App.

5.6 Notices will be deemed received, if sent by email or via the Lightyear App, at 9:00 a.m. on the next business day after sending.

5.7 Our email address for formal notices is support@lightyear.com

6.1 Your privacy is important to us. Our Privacy Policy, as updated from time to time, explains how we collect, use, store and transfer your personal information.

6.2 We will only use your personal information as detailed in our Privacy Policy. You will also receive a copy of the Privacy Policy from us in a durable medium (e.g., via the email you used to sign up).

6.3 You should review our Privacy Policy to ensure you understand and agree to our collection, use and disclosure of your personal information. If you have any questions about our Privacy Policy or wish to exercise rights under data protection legislation, you can email us at dpo@lightyear.com.

6.4 We won’t disclose your personal information to anyone, other than as described in our Privacy Policy and as outlined below.

When we may disclose information about you

6.5 We may disclose information to third parties about you or any of your Orders or Transactions you are making using the Services:

6.5.1 as permitted by Applicable Law;

6.5.2 where it is necessary or helpful for completing or correcting Transactions or resolving any claims regarding Transactions;

6.5.3 in order to comply with a valid request by a regulatory body, government agency, a court order, or other legal or administrative reporting requirements;

6.5.4 to our employees, auditors, affiliates (including employees of such affiliate), any Broker, or lawyers as needed to assist or enable the proper performance of the Services;

6.5.5 in order to prevent, investigate or report possible illegal activity;

6.5.6 for any reason as necessary to fulfil our obligations under this Agreement or applicable to the Services you are using;

6.5.7 if it is in the public interest to disclose such information; and/or

6.5.8 at your request or with your consent.

6.6 In order to satisfy our own obligations in relation to the orders you may submit and the Positions you may maintain, you agree to provide us with all such information as we may reasonably request.

7.1 We may record telephone conversations we have with you and store electronic communications between you and us, in accordance with our obligations under the FCA Rules, and you hereby specifically consent to this. You also specifically consent to such records being used in any arbitral or legal proceedings between us.

7.2 We’ll store our records of these communications according to our data retention policies and otherwise as required by Applicable Law. At any point during this time, you can request a copy of the recordings.

8.1 If you feel dissatisfied with any aspect of our Service, then firstly please contact us by emailing complaints@lightyear.com. We will immediately carry out an independent investigation of your complaint and will provide a written response. More details on the process can be found from Lightyear Complaints Policy which can be found on our website.

8.2 If we are unable to resolve your complaint to your satisfaction and you are an eligible complainant as defined by the FCA (including but not limited to a natural person acting for purposes outside your normal trade, business or profession (i.e. an individual) or a small business), you can refer your complaint to the Financial Ombudsman Service within six months of the date we sent (or should have sent) our final response to you.

8.3 Contact details for the Financial Ombudsman Service are set out below.

8.3.1 Address: Exchange Tower London E14 9SR.

8.3.2 By phone from UK: 0800 023 4567

8.3.3 By phone from outside UK: +44 20 7964 0500

8.4 You can find more information on their website at https://www.financial-ombudsman.org.uk/. You can also use their service through the Online Dispute Resolution platform.

9.1 We are covered by the Financial Services Compensation Scheme (“FSCS”). The FSCS may pay compensation to you if we are unable to meet our obligations to you in the event of our insolvency. There is a limit to the amount that the FSCS will pay to an eligible claimant in respect of investment business with us.

9.2 You can contact or find out more about the FSCS (including the current limits, amounts covered and eligibility to claim) in the following ways:

9.2.1 By phone: 020 7741 4100 or 0800 678 1100

9.2.2 Online: www.fscs.org.uk.

9.3 Please note, you will not be entitled to compensation purely based on the financial performance of your Instruments. This means that losing capital as a result of your investment activities will not automatically qualify you to receive compensation.

10.1 To access the Services, you acknowledge and agree that:

10.1.1 you are at least 18 years old and a resident of the United Kingdom;

10.1.2 you will provide any information we may reasonably request to verify your identity during the account setup and as required to meet legal obligations;

10.1.3 you recognise we are required by UK anti-money laundering laws to verify your identity. During onboarding, we may request certain information from you so that we can perform anti-money laundering checks, screen our users against “Politically Exposed Person” and international sanctions’ lists as well as comply with Applicable Law and therefore also collect and process your information for these purposes;

10.1.4 you authorise Lightyear or third parties to verify your identity and check for fraud. This includes checking public records, verifying account information associated with the bank, e-money or payment institution account that you link to the Account or qualifying debit cards (e.g., name or account balance), and taking actions if needed. If we suspect money laundering or illegal activity, we may stop providing Services without notice and report to authorities as required;

10.1.5 we may exercise our rights under this Clause both during onboarding and at any other time;

10.1.6 you agree to keep your information current, accurate, and complete, updating us with any changes. You agree you will only use and maintain one single Account to access or otherwise utilise the Services, and your creation and/or use of any subsequent accounts may result in our disabling any and all of your accounts and withdrawing your access to the Services.

11.1 Your Account must be in your name only and cannot be shared with anyone else.

11.2 You are fully responsible for keeping your Account password and security details safe. Lightyear is not liable if someone accesses your Account because these details weren’t protected by you. Do not share your passwords or security details with anyone. Unless you notify us, we will assume all actions taken in your Account are authorised by you.

11.3 If you know or suspect that someone else has your password or security details, contact us right away at support@lightyear.com.

12.1 We aim to keep the Lightyear App available 24/7, but we can’t guarantee it will always be accessible, meaning you may sometimes be unable to place Orders or view your Positions.

12.2 We will take reasonable steps to minimise the disruption to the Lightyear App and the Services and to give you advance notice of any planned suspension.

12.3 You are responsible for ensuring that your device is capable of supporting and has an operating system which is compatible with the latest version of the Lightyear App. Keep in mind that your experience may vary depending on your internet connection; a weak connection could affect your ability to place Orders or check Positions quickly.

12.4 You may also access your Account via a web app, but note that it may not have all the features of the mobile app. By using the web app, you understand that its functionality may be limited compared to the mobile app.

This Clause of the Agreement provides information about the Services we provide to you, the Orders you can make through the Lightyear App and how we will treat you for regulatory purposes.

13.1 Upon completing the onboarding checks, we will:

13.1.1 provide functionality via the Lightyear App to allow you to submit an Order and display information about your holdings of money and Instruments via the Lightyear App;

13.1.2 allow you to send and receive Orders for one or more Instruments;

13.1.3 offer foreign exchange services related to our Services;

13.1.4 safeguard your Instruments;

13.1.5 hold and control client money.

13.2 We are not a currency trading platform and you should not use our Services for this purpose. If we detect that you are using our Services for this purpose, we may, at our discretion, set a limit on the amount of money you can convert, restrict your ability to use this or other features, or suspend or close your Lightyear Account.

13.3 Our fee-free Services (if available) are designed to support long-term investing. They must not be used in a way that seeks primarily to take unfair advantage of fee-free trades — for example, such as frequent same-day buying and selling of Instruments without genuine investment intent. If we detect such use, we may, at our discretion, set reasonable limits on your activity, restrict access to certain features, or suspend or close your Lightyear Account.

14.1 Safeguarding and administration means keeping your Instruments safe, including recording your Instruments and Transactions in your Account, and carrying out administration activities, including paying out income and settling your Transactions.

14.2 As the custodian of your Instruments, we provide safeguarding and administration for Instruments you invest in through the Lightyear App. You will be the beneficial owner of the Instruments we safeguard.

14.3 We may deposit Instruments held by us on your behalf into an account opened with a third party (Sub Custodian). To protect your interests and your Instruments, we shall exercise all due skill, care and diligence when selecting a Sub Custodian according to the criteria required by Applicable Law and FCA Rules. We will carefully select the Sub Custodian to ensure, among other things, their market practices that could affect your rights and their arrangements in place for holding and safeguarding assets. We shall have the right to select and change Sub Custodians and, with our consent, authorise them to use further sub-custodians. We shall regularly inspect the activities of such Sub Custodians.

14.4 Under Applicable Law and FCA Rules, we remain responsible for the safekeeping of your Instruments which have been deposited into an account opened with a Sub Custodian. We will also be responsible under Applicable Law for any acts or omissions of the Sub Custodian.

14.5 The Sub Custodian is required to comply with applicable safeguarding and segregation rules. This means that your Instruments will be held separately from the Sub Custodian’s own corporate assets, ensuring that they are protected from the Sub Custodian's creditors in the event of the insolvency of the Sub Custodian. The insolvency proceedings of the Sub Custodian shall be subject to the national laws of the Sub Custodian.

14.6 As a rule, we and our Sub Custodians will hold the Instruments in accounts using an omnibus structure, which means they are held along with the Instruments of other clients in the securities accounts intended for shared safeguarding of securities belonging to several clients of ours or our Sub Custodian. Please refer to our Risk Disclosure for more detailed information on risks relating to holding Instruments in accounts using an omnibus structure. Securities accounts held by us will be opened in the name of Lightyear Nominees Ltd (the “Lightyear Nominee”). Where Instruments are held by our Sub Custodians who are subject to the law or market practice of a jurisdiction outside the United Kingdom and as such we are unable to register or record legal title, they may be registered in the name of the Sub Custodian, their sub custodians or other nominees. We will take reasonable steps to determine that it is in your best interests to register or record title to Instruments in this way. In all cases, we will maintain records to ensure that your individual ownership is identified and safeguarded. Lightyear will maintain records that identify your individual ownership and entitlement to Instruments and is able to distinguish which assets belong to each Lightyear client at any time. The account is held separately from any assets belonging to Lightyear and the Sub Custodian.

14.7 You accept that we may deposit your Instruments in accounts with a Sub Custodian that are or will be subject to the law of a jurisdiction other than that of the UK or a Member State of the EU and your rights relating to those Instruments may differ accordingly. We will only deposit Instruments with a third party in a jurisdiction which specifically regulates and supervises the safekeeping of Instruments for the account of another person as required by Applicable Law and FCA rules. In the event of a failure or any default by a third party custodian, which results in the actual investments held being less than the amount intended to be held then as the investments are pooled, you may be required to share proportionally in any shortfall.

14.8 We will keep records and accounts to distinguish your Instruments from others, as required by FCA CASS rules.

14.9 You consent to us granting to a Sub Custodian security interest, right of set off or a lien over your Instruments, only to the extent required by Applicable Law for the following purposes:

14.9.1 to secure any amounts you owe the Sub Custodian for services they have provided to you under this Agreement that are due and payable;

14.9.2 to the extent that those debts to the Sub Custodian relate to anything else:

(a) the security interest, lien or right of set-off is required by Applicable Law in a third country jurisdiction in which your Instruments are held;

(b) we have taken reasonable steps to determine that holding your Instruments subject to that security interest, lien or right of set-off is in your best interests; and

(c) By accepting this Agreement, you acknowledge the associated risks and agree that a Sub Custodian may hold or sell some or all of your Instruments to settle obligations you owe, or may set off payments due to you against payments you owe.

14.10 We may, in connection with safeguarding and administering your Instruments:

14.10.1 allow a Sub Custodian to place a lien, charge, or restriction on your Instruments only if required by the laws of the country where they are held, subject to Clause 14.9.2. If we cannot avoid granting such a right, we will inform you of the associated risks and will ensure that our internal records clearly reflect your ownership rights;

14.10.2 use your Instruments (including those held in pooled or omnibus accounts) to settle Transactions entered into by you, or to recover amounts that are due and payable by you under this Agreement. Where necessary, this may include selling your Instruments on market terms, in the amount required to cover such obligations, without the need for further instruction from you. Any such use will be limited to what is strictly necessary to meet your obligations and will not affect our obligation to maintain records that clearly identify your ownership rights;

14.10.3 delay making Instruments available where transfer or disposal is restricted by law, stock exchange rules, custodian agreements, or orders from authorities.

14.11 By signing this Agreement, you consent to the safekeeping of your Instruments as outlined in this Clause.

Non-complex products

14.12 The majority of the Instruments available on our platform will be categorised as “non-complex products”, such as shares or units in simple exchange-traded funds. When you invest in these Instruments, we won't be required to assess whether these Instruments or our Services in relation to them are appropriate for you. This means that you won't benefit from the protection of the FCA rules on assessing appropriateness.

Complex products

14.13 You may be able to use our platform to invest in "complex products”. Before you can invest in a complex product, we're required to assess whether the product is appropriate for you under the FCA's rules. We'll do this by obtaining and assessing information from you about your investment knowledge, experience in trading such products and your understanding of the risks involved. This is called an “appropriateness assessment”.

Your cash is kept separate from our cash

15.1 Money you deposit with us into your Account or Lightyear Cash ISA is received directly into a bank account opened with a UK authorised credit institution, designated as a client money bank account and held under statutory trust for the benefit of our customers.

15.2 Money may also be held in Qualifying Money Market Funds (QMMF) where the units are held as safe custody assets in the name of the Lightyear Nominee. This means that QMMFs are not held under client money rules.

15.3 The above means that the money with our banking partner or QMMF is physically and legally segregated from our money and therefore protected from our creditors in the event of our default.

Your cash will be pooled with that of our other customers

15.4 Your money is held in pooled accounts, with records kept tracking your individual beneficial ownership.

15.5 This means that:

15.5.1 it is not possible to separately identify your client money from that of our other customers, except by using our internal books and records;

15.5.2 if we were to fail (for example, by becoming insolvent), there may be a risk of delay in returning your client money, as the appointed insolvency practitioners will need to rely on our most recent reconciliation to determine what is due to each client. Any further delays would primarily relate to their coordination with the institutions holding the cash to facilitate its distribution.

Risks associated with and your consent to us holding your money in a Qualifying Money Market Fund (QMMF)

15.6 You consent that we may also hold your money in the shares or units of QMMFs. You may opt out of your money being held in a QMMF by contacting our customer support at support@lightyear.com or via the Lightyear App (if available). In that case, we may not be able to pay you interest as specified in Clause 15.12.

15.7 Where your money is held in a QMMF, it won’t be held in accordance with FCA client money rules. Instead it will be subject to FCA safe custody asset rules which define our obligations, including title registration, segregation and record keeping of safe custody assets. We will only place your money in QMMFs that meet high-quality standards, as assessed by relevant rating agencies and our internal due diligence assessment.

15.8 By agreeing to these terms, you acknowledge and explicitly consent to this arrangement. Adding money to your Account

15.9 You can add money by depositing to the client money bank account details, shown in your Lightyear App. Transfers must come from an account in your name or a joint account with your spouse.

15.10 Deposited money remains in your Account until you request a transfer or withdrawal or place an Order.

15.11 Any payments related to your Orders and Positions will be credited or debited from your Account.

Interest on client money

15.12 Lightyear may receive interest on cash balances held in client bank accounts as defined in Clauses 15.1, including balances held in Qualifying Money Market Funds (QMMFs). You consent to our retaining any interest that we may receive unless it is expressly stated in these Terms that interest will be paid to you.

15.13 We will pay interest only on GBP balances that you hold with us. No interest is paid on balances in any other currency, and Lightyear retains all interest earned on those balances to offset the costs incurred in managing client cash and operating your Account. The rate of interest payable on GBP balances will be determined by us from time to time and published on our website and/or in the Lightyear App. Rates are determined by reference to the interest we receive, the cost to us of managing client cash, and the wider operation of your Account.

Accrual and payment of interest

15.14 Where interest is payable under Clause 15.13, it accrues on your cleared daily GBP balance and is credited to your Account on the first working day of the following month, at which point the interest becomes your cash. When you give an Order to buy an Instrument, the cost of that Order (together with applicable fees) will be deducted from your Account on the Order placement date and interest will not be paid on that sum from that point. Depending on how we have received payment from you (e.g. bank transfer, debit card), interest may start to accrue from the date the money is credited to your Account.

15.15 Interest will accrue up to the date your Account is closed. If your Account is closed between two interest payment dates, any unpaid, accrued interest will not be paid.

16.1 You may place the following types of Orders on the Lightyear App (subject to availability for the Instrument):

16.1.1 Market Order;

16.1.2 Repeat Order;

16.1.3 Limit Order;

16.1.4 Stop Order.

16.2 We determine which types of Orders are allowed, and some Instruments may have restricted Order options based on their characteristics.

16.3 Short-selling is not allowed. You cannot submit a sell Order to perform a Transaction for an Instrument that you do not own at the time of the sale and that is not held on your Account whether settled or unsettled at the time of the sale. Instruments available

16.4 Your Orders may relate only to the Instruments that are available via the Lightyear App from time to time. We have complete sole discretion as to the Instruments that we make available to you via the Lightyear App and we may add or remove any Instrument at any time.

17.1 Orders may only be submitted via the Lightyear App. You must have sufficient available money or Instruments in your Account to meet the Order value and any related fees, taxes, or charges.

17.2 You must act on your own behalf and for your own account. You cannot place Orders on behalf of others, unless permitted by us.

17.3 By submitting an Order, you enter into a binding commitment to buy or sell the relevant Instrument. Orders can only be cancelled before they are communicated to the trading venue, Broker, or another counterparty we deal with for over-the-counter instruments (for example, the issuer or distributor of a money market fund). Cancellation requests must be submitted via the Lightyear App and may not always succeed due to market speed or operational constraints.

17.4 We may refuse, delay, or cancel an Order at our sole discretion, including but not limited to the following circumstances:

17.4.1 it breaches this Agreement, Applicable Law, market rules, or custodian/exchange requirements;

17.4.2 you fail to provide information or documents we reasonably request;

17.4.3 we reasonably believe you cannot meet settlement or payment obligations;

17.4.4 the market or other external conditions make execution impossible or impractical;

17.4.5 we suspect market abuse, fraud, or other harmful activity;

17.4.6 there is any other valid reason consistent with protecting clients, market integrity, or our own compliance obligations;

17.4.7 or where we determine it is necessary for our own responsibility to manage risk, including but not limited to settlement, credit, and operational risks to Lightyear.

17.5 We may, without liability, cancel, reverse or amend any Transaction that we reasonably believe was affected by a manifest error, technical failure, or pricing issue, or that breaches Applicable Law.

17.6 Limit Orders can remain active for the period you select (subject to any maximum duration shown in-App). Unexecuted or uncancelled Orders will expire automatically at the end of that period.

17.7 From time-to-time, other restrictions may apply to submitting Orders dependent upon regulatory requirements, market conditions or our own risk and compliance considerations. These may include, but are not limited to situations such as:

17.7.1 trading restrictions imposed by regulators on certain Instruments;

17.7.2 trading restrictions imposed by regulators on us;

17.7.3 trading restrictions imposed by the trading venue or Broker on us;

17.7.4 trading restrictions imposed by us where we reasonably believe such action is necessary to protect our customers or the integrity of the market (for example, in cases of suspected market abuse, fraud, or other harmful activity).

17.8 You can choose to automate your submission of Market Orders via Repeat Orders. Repeat Orders can only be placed as Market Orders to buy an Instrument of your choosing. Repeat Order is subject to following conditions:

17.8.1 you must choose the time period over which the Repeat Order is placed (available time periods are provided in the Lightyear App). In case of weekly and monthly (if available) Repeat Orders, you must choose a day/date upon which the Repeat Order is placed and carried out;

17.8.2 if you have chosen a day/date on which the market is closed, the Repeat Order shall be placed on the next day on which the market is open;

17.8.3 if you do not have enough available money in your Account to place the Repeat Order, it will be skipped and not placed. This does not cancel the next scheduled Repeat Order;

17.8.4 you cannot place identical Repeat Orders regarding the same Instrument (for example to buy the same Instrument over the same time period on the same day or date).

17.9 We may change, restrict, or withdraw any Order types or features at any time.

17.10 If certain Instruments you own become unavailable due to legal, regulatory, or risk restrictions, you agree that we may sell such Instruments from your Account at prevailing market prices and credit the proceeds to you.

18.1 Lightyear has discretion over whether or not an Order submitted by you is communicated to the trading venue, Broker or another counterparty we deal with for over-the-counter instruments (for example, the issuer or distributor of a money market fund). If we cannot accept your Order, we will let you know as soon as reasonably practicable. While we may not always be able to share full details, we will provide information where possible.

18.2 Brokers, partners, and trading venues may also reject or cancel Orders based on their own rules, limits, or Applicable Law.

18.3 Orders may be cancelled or amended if required by a market, custodian, or regulator.

19.1 If we accept your Order, we will execute it or transmit it to a Broker (or onward for execution) in line with this Agreement.

19.2 We are committed to acting in your best interest when passing your Order to a Broker for execution. We ensure that any Broker or any other entity we use consistently delivers the best result for our clients. See our Order Execution Policy for details on how we select and review Brokers and how this aligns with acting in your best interest.

19.3 By opening an Account, you agree to our Order Execution Policy. If we make changes to this policy, we’ll notify you as per this Agreement.

19.4 We generally aim to transmit Orders for execution on the same day we receive them, provided you have sufficient money and the Order is placed during Market Hours.

19.5 Market Hours means the hours when the trading venues of Instruments available via the Lightyear App are open for trading. For certain Instruments (such as money market funds) that are not continuously tradable, execution may take place only at predetermined times, and Orders received after such times will be executed on the next eligible day.

19.6 All Orders are executed or transmitted in accordance with the rules, regulations, market practices and operational procedures of the relevant trading venue, clearing house, sub custodian, or other involved third party. We are not responsible for delays, failures, or other issues caused by these parties or the applicable market infrastructure.

19.7 You consent to your Orders being executed outside a regulated market, MTF, or OTF where relevant (e.g. for fractional trading).

19.8 Please note that an Order placed outside of market hours will be executed once market hours commence.

20.1 When you wish to submit an Order to buy an Instrument, we will reserve cash in your Account equal to the estimated total value of the Order, including any applicable fees, charges, taxes, and, where we consider appropriate, a buffer to cover potential market movements before execution.

20.2 When you place an Order through the Lightyear App, we will show you the indicative price of the Instrument you are looking to buy or sell. This price is provided by third-party sources for information purposes only. The indicative price is not updated in real-time for every market movement and therefore may differ from the final execution price. The actual execution price is determined by the market at the time your Order is executed, and may be higher or lower than the indicative price you saw in the App.

20.3 In periods of exceptional market conditions — for example, when prices are moving very quickly, when there are very few buyers or sellers, or when markets experience outages or trading halts — the price at which your Order is executed may differ significantly from the indicative price shown in the App. In these situations, your Order may also be delayed, only partially filled, or rejected. The difference between the displayed price and the final execution price (“slippage”) may be larger than usual. To the maximum extent permitted by law, we are not responsible for any losses caused by such conditions. 20.4 We take all sufficient steps to achieve the best possible result for you in line with our Order Execution Policy. However:

20.4.1 for Market Orders, the final execution price may be higher or lower than the indicative price you saw when submitting your Order. This may happen because the market moves between the time you place the Order and the time it is executed (“slippage”). Such price movements can be in your favour or against you;

20.4.2 for Limit Orders, we will only execute at your specified limit price or better. If the market does not reach your limit price, your Order may not be executed in full or at all;

20.4.3 for Stop Orders, if the market price moves quickly through your stop level (for example, if the market opens below your stop price after being closed), the Order will trigger at the next available price, which may be significantly different from your stop price. Stop Orders are therefore not a guarantee that you will be able to sell or buy at your chosen stop level;

20.4.4 in some cases, your Order may be partially filled or rejected if there is insufficient liquidity at the relevant price level;

20.4.5 if the execution price is higher than the amount reserved in your Account (for example, because of slippage), your Order may be rejected or may result in a negative balance. You must top up any shortfall within the timeframe we notify you, or we may take corrective action, including liquidating positions in your Account or, where necessary, suspending or terminating your Account.

21.1 When you sell an Instrument, the money from the sale will be added to your Account. You can use this money to make new investments or ask us to transfer it to an account in your name.

21.2 In most markets, settlement (the final transfer of ownership and funds) takes one or two trading days. While the sale proceeds are generally available for reinvestment immediately, the timing of settlement determines when the money can be withdrawn or transferred out of your Account.

22.1 Market Data is provided “as is” and “as available.” We do not guarantee the accuracy, completeness, reliability, or timeliness of any Market Data. Market Data may be delayed, incomplete, inaccurate, or unavailable due to market conditions, third-party actions, or system issues.

22.2 We are not liable for any loss (including loss of profit, opportunity, or data) that you suffer because of relying on Market Data, whether arising from delays, errors, omissions, interruptions, or any other cause. Our liability in connection with Market Data is excluded to the maximum extent permitted by Applicable Law, as further set out in Clause 27.

22.3 We may change the source, content, or format of Market Data at any time, or withdraw access to Market Data altogether, without prior notice.

22.4 We may, at our sole discretion, restrict, suspend, or terminate your access to Market Data without notice if we reasonably believe you have breached this Agreement, misused Market Data, or if required by a third-party provider. We accept no liability for such restriction, suspension, or termination.

23.1 Corporate actions may include, but are not limited to, voting rights, dividends, interest payments, stock splits, mergers, spin-offs, rights issues, conversions, and takeovers relating to your Instruments.

23.2 We will use reasonable efforts to facilitate mandatory corporate actions (such as dividends, stock splits or mergers) that are generally available in the market for the relevant Instrument.

23.3 Mandatory corporate actions will generally be processed automatically on your behalf and credited to your Account where applicable. For mandatory corporate actions that require an operational choice and where we cannot obtain your instructions, we will follow the default option specified by the issuer or other relevant party.

23.4 We or the legal holder of your investments will only act on voluntary corporate actions that require your input based on your instructions, and will not make discretionary decisions regarding these actions.

23.5 We do not currently support all types of voluntary corporate actions (such as rights issues, tender offers or elective dividends). We may, at our discretion, make certain voluntary corporate actions available to you through the Lightyear App from time to time. Where we make a voluntary corporate action available, you must provide instructions in the form we specify by the relevant cut-off time, and you will be responsible for any expenses or costs associated with executing those instructions. If we do not offer a voluntary corporate action through the App, you will not be able to participate.

23.6 You do not have voting rights in respect of fractional holdings of Instruments.

23.7 We will use reasonable efforts to inform you about corporate actions, but we cannot guarantee the timeliness, completeness, or accuracy of any notice. We accept no liability for loss resulting from delays, changes, cancellations, or failures in communication.

23.8 In some cases, including where fractional shares arise or where delivering securities is not possible, we may provide the cash equivalent instead. This may also apply after your Account is closed, in which case we will attempt to return the proceeds using your previous payment method.

23.9 Where we receive income from your positions through dividend payments, interest, or other corporate actions, we will reconcile and credit these amounts to your Account. If you have not enabled the multi-currency account functionality, we will convert such income to your Account’s default currency. Currency conversions will be carried out at the prevailing market rate, and we may waive FX fees for certain types of income (e.g. dividends). Withholding tax may apply; reclaiming such tax is your responsibility unless we agree otherwise.

24.1 We strive to act in your best interests when providing our Services, in compliance with applicable requirements. However, there may be limited circumstances where your interests conflict with our interests or those of another customer. To identify and prevent or manage these conflicts, we have implemented various internal policies and arrangements, detailed in our Conflicts of Interest Policy.

24.2 From time to time, we may pay or receive fees, commissions, or other benefits from third parties in connection with the Services we provide to you. We will only do this in accordance with our regulatory obligations, including our duty to act in your best interests and manage conflicts of interest.

25.1 Our Service Fees are published on our website and updated regularly. Translations into certain other languages are also available on our website. We will notify you of any changes as set out in Clause 29.

Currency conversion

25.2 Orders are executed in the currency in which the Instrument is traded on its market (or over-the-counter).

25.3 If you do not hold enough of that currency in your Account, we will convert funds from your Account to the required currency using the spot exchange rate available to us at the time of conversion. You can see the rate in the Lightyear App, and your transaction history will show the rate used.

25.4 If your Account supports multiple currencies, no conversion will be made if you have a sufficient balance in the required currency.

25.5 Please note that conversion (and charging any applicable Service Fees) takes place when the Order is placed, even if the Order is later rejected or cancelled. In that case, the converted money remains in your Account.

Charging of Service Fees

25.6 You are only charged execution fees for Orders that are executed. You agree to pay all fees and charges for the relevant Services Fees for a Transaction will be deducted from your Account once the Order is executed.

25.7 In the event of non-payment or late payment of fees, you agree that we may, sell, retain or set-off Instruments held in the Account.

25.8 If the execution fee is calculated on percentage basis, the applicable fee shall be rounded to the nearest cent. For example, if the fee is USD 1.239, the fee shall be rounded to USD 1.24.

25.9 We may in certain cases decrease or waive the fees we charge. Such actions cannot be construed as permanent changes in the pricing of our Services, unless we specifically communicate so, and thus provides no legitimate expectation to also pay decreased fees or no fees in the future.

26.1 You are solely responsible for ensuring you comply with all applicable tax laws, reporting and payment obligations in any jurisdiction, and for any taxes or duties (local or international) arising from your Transactions, your use of our Services, or any interest payments we make to you. These may be imposed at the time of purchase, while you hold the Instrument, or at a later date.

26.2 All payments by Lightyear under this Agreement will be made without withholding or deduction for taxes unless required by law. If withholding is required, we will not pay any additional amounts to cover it. You must promptly provide any information we request to enable proper withholding, deduction, or reporting.

26.3 You will be wholly responsible for any fees incurred in the transfer, deposit, withdrawal, or card payment related to your Account, including those charged by your bank, card issuer, e-money provider, or payment institution.

26.4 When you enter into a Transaction, hold an Instrument, or use a Service via the Lightyear App, you may be subject to fees, taxes, or charges imposed by third parties (“Third-Party Fees, Charges, and Taxes”). These are not set, controlled, or retained by Lightyear and are determined solely by external entities such as exchanges, issuers, custodians, clearing houses, depositories, or tax authorities.

26.5 Third-Party Fees, Charges, and Taxes may be charged at the time of the Transaction, while you hold the Instrument, or at a later date. They may include, for example:

26.5.1 transaction taxes (including stamp duty, financial transaction tax, or similar);

26.5.2 market access, clearing, settlement, or depository charges;

26.5.3 safekeeping, custody, or issuer-imposed fees;

26.5.4 charges in connection with corporate actions;

26.5.5 withholding taxes or other taxes applied by law.

26.6 You are solely responsible for paying any applicable Third-Party Fees, Charges, and Taxes. Where we are required or reasonably able to collect such fees, we will deduct these amounts from your Account either:

26.6.1 from the funds you use when placing a buy Order;

26.6.2 from the proceeds of a sell Order;

26.6.3 or from your Account balance if the fee is applied after the Transaction has been executed.

26.7 If we do not deduct Third-Party Fees, Charges, and Taxes from your Account pursuant to Clause 26.6, you remain responsible for payment directly to the relevant third party or authority.

26.8 If your Account has insufficient funds to cover Third-Party Fees, Charges, and Taxes to be deducted by Lightyear, you must immediately top up the shortfall, including any related fees, interest, or costs we incur. We may also recover the amount by selling your Instruments or taking other action under this Agreement.

26.9 Because Third-Party Fees, Charges, and Taxes are set by third parties, they may change without notice and it may not be possible to provide an exhaustive list in advance. Where reasonably practicable, we will inform you of any such fees before they are charged.

26.10 You authorise us to deduct any Third-Party Fees, Charges, and Taxes from your Account. Once such amounts become payable to a third party, they will no longer be treated as client money. You are responsible for any other taxes you may owe in connection with your investments and for making any required filings with tax authorities.

27.1 Lightyear together with its officers, directors, agents, partners, employees, licensors, distributors, and other representatives, limits its liability as much as the law allows. We will only be liable in cases of:

27.1.1 death or personal injury,

27.1.2 breach of legal obligations under regulations,

27.1.3 negligence, fraud, or intentional wrongdoing,

27.1.4 any liability that cannot be legally excluded or limited.

27.2 Lightyear, and the people and organisations listed above, are not liable for any indirect or special damages related to your use of the Services or this Agreement, including lost revenue, data loss, or interruptions caused by issues outside their control.

28.1 If you think you may have breached this Agreement, you must let us know right away at support@lightyear.com.

28.2 If you breach this Agreement, you may be responsible for any damage, loss, or costs we incur as a result. If we learn about your breach, either from you or through other means, we may take any of the following actions: 28.2.1 suspend your access to the Services (temporarily or permanently), including immediate withdrawal of your right to use some or all of the Services pursuant to Clause 33;

28.2.2 terminate this Agreement pursuant to Clause 33, which will lead to closing your positions;

28.2.3 take legal action against you to recover all costs and expenses related to the breach, including all costs on an indemnity basis (such as reasonable administrative, enforcement, and legal costs);

28.2.4 pursue further legal action if necessary; and

28.2.5 report the breach to law enforcement if we believe it is necessary or required by law.

28.3 Lightyear together with its officers, directors, agents, partners, employees, licensors, distributors, and other representatives, is not responsible for failing to provide Services or breaches of this Agreement due to uncontrollable events. Such events include, but are not limited to, market closures or suspensions, acts or omissions of sub custodians or brokers, changes in law or regulation, governmental actions, acts of terrorism, cyber-security incidents, failures of telecommunications or IT systems, or any other event beyond our reasonable control. We shall not be liable for any failure, delay, or inability to perform our obligations due to such events.

28.4 Our ability to provide the Services depends on the continued availability of services from third parties, including market data providers, sub custodians, payment processors, and brokers. We shall have no liability for any loss or damage arising from the suspension, withdrawal, or failure of such third-party services, provided we have taken reasonable steps in their selection.

28.5 If Lightyear incurs costs, including legal fees, while collecting payments or enforcing obligations related to your Account, you agree to pay those costs.

28.6 If you have breached this Agreement and we don't enforce our rights, or we delay enforcing them, this will not prevent us from enforcing those or any other rights at a later date.

29.1 Where we make a change to our agreement with you, we will tell you what that change is, the reason for the change and the date on which the change will come into effect. Unless Applicable Law prevents us from doing so or where the change is not to your disadvantage, we will give you reasonable prior written notice of any change.

29.2 We will notify you of changes by sending an email to the address you have provided to us, and/or by making the updated Agreement available in the Lightyear App or on our website. Unless you notify us before the effective date that you wish to terminate this Agreement, you will be deemed to have accepted the changes. If you object to the amendments, you may terminate this Agreement with immediate effect before they come into force.

29.3 We may amend this Agreement immediately, without the prior notice period in Clause 29.1, if the change:

29.3.1 is more favourable to you;

29.3.2 is required by law or regulation;

29.3.3 introduces a new Service or additional functionality to existing Services; or

29.3.4 does not reduce your rights or increase your obligations under this Agreement. In these cases, the change will take effect immediately upon you being notified by email and/or the Agreement being made available in the Lightyear App or on our website.

29.4 Lightyear may discontinue or modify the Services or content of the Lightyear App, or any portion thereof, at any time. It is important that you keep your personal contact information up to date, so please let us know if any of your details change.

29.5 We may, at our discretion, discontinue, suspend, or modify any Service or the content of the Lightyear App, in whole or in part, at any time. We will give you reasonable notice where practicable, but we are not liable for any loss or damage arising from such discontinuation or modification, to the maximum extent permitted by law. You remain responsible for ensuring your contact information is kept up to date.

30.1 If we receive a notification that you have died, we will suspend your Account as soon as we can. The value of the Instruments in your Account, and any funds remaining in your Account, may form part of your estate and, subject to us receiving appropriate confirmation from an executor or appropriate representative responsible for the management of your estate, we may act on the instructions given to us by such representatives. Any actions we take based on instructions received under a power of attorney will be subject to our stated fees and charges.

30.2 You should be aware that we are not liable to you for any loss or damage incurred by you in relation to your Positions whilst we await instructions from any of your representatives. This Agreement shall continue in full force and effect after your death, until such time as your Account is closed and the Agreement is terminated.

30.3 If you are deemed legally incapable of engaging with the Services, and we are provided with documentation to this effect, we will manage your Account in accordance with any instructions received under a power of attorney, until such time as the power of attorney is revoked or until the time of your death. Any actions we take based on instructions received under a power of attorney will be subject to our stated fees and charges.

31.1 Lightyear and you are the only parties to this Agreement. You cannot transfer any rights or obligations under this Agreement to any other person without our written consent.

31.2 We may assign, transfer, or delegate any of our rights or obligations under this Agreement to another entity at any time, provided we comply with our legal and regulatory obligations. Where required, we will give you prior notice before the transfer takes effect.

32.1 A person who is not a party to the agreement between us cannot benefit from or enforce any of its terms under the Contracts (Right of Third Parties) Act 1999.

Your right to terminate this Agreement and close your Account(s)

33.1 You may terminate your GIA at any time and for any reason directly through the Lightyear App using the in-app closure functionality or by providing us with written notice via email at support@lightyear.com. Upon termination, only the GIA will be closed and you will not incur any additional fees for the termination. If you have other Account(s) associated with this Agreement, please note that terminating your GIA will not automatically close those accounts, unless you exercise your rights to terminate them separately.

33.2 You can cancel your Stocks & Shares ISA or Cash ISA within the first 30 days of receiving confirmation of your application. Please refer to Clause 6 of the S&S and Cash ISA Terms for the specific cancellation rights applicable to your ISA(s).

33.3 You may also terminate your ISA(s) at any time after the 30-day cancellation period directly through the Lightyear App using the in-app closure functionality or by providing us with written notice via email at support@lightyear.com. Upon termination, the relevant ISA will be closed, and any remaining money or assets will be managed according to our standard procedures. Please note that if you have made any payments into your ISA in the current tax year, those payments will still count against your ISA allowance.

Our rights to terminate this Agreement and close your Account(s)

33.4 We may suspend, restrict, or terminate your Account, and/or any part of our Services to you, immediately or on notice, if any of the following apply:

33.4.1 you have breached this Agreement, including any obligation set out in Clause 4, or any other agreement with us;

33.4.2 you have provided false, misleading, or incomplete information to us;

33.4.3 you fail to provide complete, accurate, and up-to-date information, or you fail to respond to requests for additional or updated identification, verification, source-of-funds/wealth evidence, or other due diligence information within the timeframe specified by us;

33.4.4 we reasonably determine, based on Applicable Law, regulatory obligations, or our internal risk management policies (including risk appetite and sectoral risk limits), that maintaining your Account or providing Services to you creates unacceptable legal, regulatory, reputational, or operational risk;

33.4.5 we have reason to believe you, or someone connected with you, has engaged in fraud, attempted fraud, money laundering, terrorist financing, sanctions evasion, or any other unlawful conduct;

33.4.6 you, or your Account activity, are directly or indirectly connected with any person, business, territory, entity, or regime subject to sanctions, or acting on their behalf or for their benefit, as determined by us;

33.4.7 you are, or we reasonably believe you may be, trading using inside information or attempting to manipulate the market;

33.4.8 you use your Account for purposes inconsistent with the intended use of our Services, including on behalf of third parties, to conceal ownership of assets, or for commercial activity not permitted by us;

33.4.9 you know or suspect, or we are notified or we detect, that anyone other than you has access to or knowledge of your user identification code, password, or other account credentials;

33.4.10 your Account has a negative balance or you otherwise owe us money (including due to market movements, fees, taxes, system related faults or charges) and you fail to settle the amount in the timeframe determined by us;

33.4.11 you are, or become, resident in a jurisdiction where we do not offer our Services, as determined by us based on available data;

33.4.12 you engage in abusive, harassing, or threatening behaviour towards Lightyear, our employees, contractors, agents, or other customers;

33.4.13 you have not logged in to the Lightyear App for 365 calendar days;

33.4.14 you are declared insolvent, enter bankruptcy or similar proceedings, or in the event of your death;

33.4.15 we are required to do so by law, regulation, court Order, a competent authority, or due to restrictions imposed by a third party essential to providing our Services (including exchanges, custodians, or payment providers);

33.4.16 extraordinary market conditions, operational issues, or other events occur that make it impracticable for us to continue providing Services to you;

33.4.17 we otherwise decide to suspend or terminate your Account at our absolute discretion, in which case we will give you at least 30 calendar days’ prior notice unless immediate action is required under this Clause 33.

33.5 Suspension may be temporary or may lead to termination. We will notify you of any suspension or termination as soon as reasonably practicable unless prevented by law or security considerations.

33.6 During a suspension, we may block access to some or all Services, decline to process Orders or Transactions, and/or freeze deposits or withdrawals from your Account. Suspension does not affect your obligations to us, including paying any amounts owed.

33.7 We may terminate your Account for reasons other than those listed above, provided we give you at least 30 calendar days’ notice by email.

33.8 Upon termination:

33.8.1 you must close all open Positions and withdraw any remaining funds within 30 calendar days or in another timeframe as determined and notified by us;

33.8.2 if you fail to close your Positions, we may do so on your behalf and at our discretion, selling your Instruments at prevailing market prices. We are not liable for any loss arising from such sales, including losses caused by market conditions at the time of execution;

33.8.3 funds will be transferred to your Account and then paid out to you once all obligations to us are settled;

33.8.4 we will retain your information and related documents only to the extent and for the time necessary to comply with Applicable Law or to maintain the Services for other customers.

34.1 We own the Services, the Lightyear App, and all related documentation, materials, and content used for their installation, operation, or maintenance, including any updates, improvements, or derivative works. All associated intellectual property rights remain the exclusive property of Lightyear or our licensors. Unless this Agreement expressly states otherwise, you do not acquire any rights in the Services, the Lightyear App, or related materials.

34.2 You agree not to challenge our rights in the Services, the Lightyear App, or related materials, or the validity of those rights under the law. You also agree not to register, attempt to register, or claim any legal protection for them, or take any action that could harm our rights or interests.

35.1 The laws of England and Wales apply to the agreement between us.

35.2 The courts of England and Wales have exclusive jurisdiction to settle any dispute arising in connection with this Agreement.

36.1 If any court or relevant authority finds any part of the agreement between us to be invalid or unenforceable, the remaining parts of the agreement between us will remain in full force and effect.

1.1 If you have a S&S ISA and/or Cash ISA, these S&S ISA and Cash ISA Terms will form part of the legally binding agreement between you and us in respect of your Lightyear S&S ISA and/or Cash ISA.

1.2 These S&S ISA and Cash ISA Terms apply to your Lightyear S&S ISA and Cash ISA in addition to the general Terms and Conditions in Part A. If these S&S ISA and Cash ISA Terms say anything that is inconsistent with the general Terms and Conditions in Part A, the S&S ISA and Cash ISA Terms will apply.

1.3 Our S&S ISA and Cash ISA products and their preferential tax treatments are covered by the ISA Regulations, and are subject to all of the rights and restrictions in those regulations. The government can and does change the rules. To the extent that there is a difference between these S&S ISA and Cash ISA Terms and the ISA Regulations (e.g. due to a change in regulation), the ISA Regulations will supersede.

1.4 These S&S ISA and Cash ISA Terms between you and us in relation to your S&S ISA and Cash ISA will apply from the day we have a valid application, or where you are transferring to us from another ISA manager, on the day we have a valid transfer application form. To open and subscribe to an ISA in a specific tax year it is your responsibility to ensure that a valid application and subscriptions are received in good time before the tax year end.

1.5 Some of the words used in these S&S ISA and Cash ISA Terms are capitalised. These have a special meaning which is set out in the Definitions section in Part C.

1.6 These S&S ISA and Cash ISA Terms will always be available on our website, and you’ll be able to download or print them.

2.1 You can open either or both a S&S ISA and Cash ISA with us. We will act as the ISA manager in respect of your S&S and Cash ISA and manage your S&S and Cash ISA in line with ISA regulations. We are approved by HM Revenue & Customs for these purposes.

2.2 If you have already subscribed to a S&S ISA and/or Cash ISA with any other ISA manager(s) in the same tax year, you can still open the same type of ISA with us provided that you do not exceed your overall ISA allowance for each tax year.

2.3 All money and investments in your S&S ISA or Cash ISA must be in and remain in your beneficial ownership (that means you have the ultimate right to them, no matter who holds them for you). You must not use them as security for a loan.

2.4 We provide safe custody for your ISA investments, both ourselves (through Lightyear Nominees Ltd) and through our appointed Sub Custodians as described in Clause 13 of the general Terms and Conditions in Part A. Where assets are deposited with a Sub Custodian they will be held in the name of Lightyear Nominees Ltd by the Sub Custodian or a clearly designated client account, who will separately arrange for the registering of legal title either directly or through further Sub Custodians.

2.5 Subject to the ISA Regulations, we may delegate any of our administrative functions under these ISA Terms to another organisation which we exercising due skill, care and diligence, has determined as being competent to exercise such functions.

2.6 Where we decide to delegate our functions, you consent to us providing that organisation with such information about you and your S&S and Cash ISA as that organisation may reasonably require for the purposes of exercising the delegated functions.

3.1 In order to open an ISA, you must satisfy the requirements set out in the ISA Regulations. Generally, you can open and maintain an ISA if you are an individual who is at least 18 years old, you are resident in the UK or a Crown employee.

3.2 You must let us know immediately if you stop meeting eligibility criteria. We’ll stop further subscriptions but you may be able to keep your account open, unless you become a US person in which case we’ll have to close the account.

4.1 By opening a S&S ISA and/or Cash ISA with Lightyear, you are appointing Lightyear to be the ISA manager of your S&S ISA and/or Cash ISA (as applicable) in accordance with the ISA Regulations.

4.2 We will automatically renew your S&S ISA or Cash ISA at the beginning of each new tax year unless you instruct us otherwise.

4.3 By agreeing to these S&S ISA and Cash ISA Terms, you authorise us to disclose all information to HMRC in connection with your ISA that is required for us to comply with the ISA Regulations.

4.4 Where we believe that your S&S ISA or Cash ISA is invalid, we’ll notify you of this and take any steps as required or permitted under the ISA Regulations or by HMRC.

5.1 You can only contribute up to a maximum of your ISA allowance each tax year, which is set by the ISA Regulations. The allowance resets at the start of each new tax year, and you cannot carry over any unused allowance from the previous tax year. The annual ISA allowance is combined for all ISA products you hold with us or any other ISA manager(s) and you are responsible for ensuring that you do not exceed your annual ISA allowance across all ISAs you may hold.

5.2 You may hold such investments in your ISA as are permitted under the ISA Regulations. Eligible investments may for example include certain UK and overseas equities, a range of UK gilts and fixed interest securities and a range of shares or units in unit trusts, open-ended investment companies and investment trusts. If any investment in your ISA is or becomes ineligible, you must sell or transfer it out. We reserve the right to sell or transfer such investment on your behalf if you fail to do so within 30 days of us notifying you.

5.3 Once the ISA subscription limit for a tax year has been reached (taking into account all permitted ISA types that you may hold) and subject to Clause 7 below, you may not make any further subscriptions into your S&S and Cash ISA or any other ISA in the same tax year.

6.1 You have cancellation rights under Applicable Law as set out below. Cancellation is where you can change your mind and cancel your ISA(s). These rights last for a limited period; once this is over, you can only terminate or make changes in accordance with the other terms of this Agreement.

6.2 You can cancel your Stocks & Shares ISA or Cash ISA within 30 days of receiving your application confirmation, which will include details about your cancellation rights, by contacting support@lightyear.com. To ensure correct treatment under HMRC rules, your request must clearly state that you wish to cancel your ISA under your statutory 30-day cancellation rights. If you do not expressly request cancellation, we will treat your instruction as a request to close your ISA, which has different consequences for HMRC reporting and your annual subscription limits.

6.3 If you cancel your ISA(s) within the period referred to in Clause 6.2 of these S&S ISA and Cash ISA Terms, any money or assets will be returned to you and you will not be considered to have opened or subscribed to the ISA under HMRC rules. Please refer to Clause 33.3 of general Terms and Conditions in Part A for termination rights applicable to your ISA(s) following the period referred to in Clause 6.2 of these S&S ISA and Cash ISA Terms. 6.4 If you cancel a transfer from another third-party ISA manager, we will take reasonable steps to return the money or investments to that party. If the original ISA manager is unable to accept the transferred ISA back, you will need to provide us with further instructions.

7.1 You can take cash from your S&S ISA or Cash ISA. Unless you are making an ISA Transfer to another ISA manager, this will be a “withdrawal” under the ISA Regulations.

7.2 Your Lightyear S&S ISA or Cash ISA is a flexible ISA. This means that you can replace amounts that you have withdrawn without those replacements counting towards your annual Subscription limit, provided that the replacement is made into the same ISA and in the same tax year as the withdrawal.

8.1 You can transfer in money and investments from another ISA manager to a Lightyear S&S ISA or Cash ISA, so long as Lightyear, the ISA Regulations and your current ISA manager permit it. We accept both full and partial transfers in, for both current and previous tax years. Please see the relevant Key Features Document or contact us for further information.

8.2 The process to transfer a S&S ISA or Cash ISA requires us to contact your existing ISA manager and make arrangements based on their requirements. For Cash ISA transfers, we will do this within five business days of receiving your instruction, following which your old ISA manager has five business days in which to send the money. S&S ISA transfers may take longer.

8.3 We may be unable to accept some transfers in, including where the subscriptions made to the transferring ISA exceed the annual subscription limit when added to the amount already subscribed with Lightyear ISA(s) in the current year.

9.1 You can transfer your S&S ISA or Cash ISA away from us to another ISA manager in accordance with applicable ISA Regulations. If you want to transfer, you should contact your new ISA manager and make arrangements based on their requirements. Your new ISA manager should then contact us to request the transfer out.

9.2 For a Cash ISA transfer to another Cash ISA, we will process the request within five business days of receiving it, and the receiving ISA manager will have five business days to complete the transfer, with a maximum timeframe of 15 business days for completion. For other types of transfer out requests, including S&S ISA transfers, we will process them within 30 calendar days.

9.3 We facilitate transfers out from your S&S ISA in accordance with the ISA Regulations, as follows:

9.3.1 You may transfer all or part of your contributions from previous tax years, either in cash or in specie.

9.3.2 You may transfer part of your contributions from the current tax year in cash only.

9.3.3 If you wish to transfer current tax year contributions in specie, you must transfer the full amount contributed in the current tax year.

9.4 In specie transfers are only available if your new ISA manager accepts them and you agree to cover any applicable fees or charges (including those imposed by our custodians or Sub Custodians).

9.5 Partial transfers are only available if your new ISA manager accepts them.

10.1 If you die, your ISA will retain its ISA status until the earlier of:

10.1.1 the completion of the administration of your estate;

10.1.2 the closure of your ISA;

10.1.3 the third anniversary of your death.

10.2 Your ISA will then form part of your estate for inheritance tax purposes, and we will pay out the value of your ISA upon receipt of the relevant evidence of death and entitlement of your personal representatives to administer your estate.

10.3 We do not accept additional permitted Subscriptions on your death.

10.4 If your spouse or civil partner inherits your ISA, they may be eligible to increase their own ISA allowance by an amount equivalent to the value of your ISA savings, known as an Additional Permitted Subscription.

11.1 At your request we can:

11.1.1 provide a copy of the annual report and accounts issued by every company or other concern in respect of shares, securities or units which are held directly in the S&S ISA.

11.1.2 arrange for you to attend shareholders’, securities holders’ or unit holders’ meetings to vote

11.1.3 provide, in addition to the annual report and accounts, any other information issued to shareholders, securities holders or unit holders

11.2 These will not be provided automatically. Requests for this information should be made to support@lightyear.com.

11.3 The rights set out in Clause 11.1 above do not apply to fractional interests, and only apply to whole shares, including where the whole share arises from multiple fractional interests that aggregate to a whole share.

1.1 In case there is any conflict or discrepancy between these Terms and the Agreement, the provisions in these Vaults Terms shall prevail. Otherwise, for matters not regulated in these Vaults Terms, the provisions of the Agreement shall apply.

1.2 Before opening the Vault, you will be provided, in the Lightyear App, with the following which you should read before making an investment decision:

1.2.1 the Agreement, Order Execution Policy and Risk Disclosures;

1.2.2 relevant FAQs, available on our website;

1.2.3 the key information document and the prospectus for the Vault Instrument.

2.1 Vault allows you to invest in money market funds (Vault Instruments) made available by us on Lightyear's platform. All the money transferred into the Vault will be invested in the Vault Instrument of your choosing. Vault Instruments can be held in a Lightyear GIA.

2.2 You may open a separate Vault for each supported currency, which may differ based on your jurisdiction.

2.3 You can see the available Vault Instruments in the Lightyear App as well as on our website. In the future, we may extend or change the list of available financial instruments in addition to money market funds that you can invest in via the Vault. We do not provide you investment advice or recommendations in respect of available Vault Instruments and we have not assessed if such Vault Instruments are appropriate or suitable for you. You need to do your own research before opening a Vault and selecting a Vault Instrument and if you are uncertain, you should seek independent financial advice.

2.4 You understand and agree that transferring cash to the Vault means that we will instruct the Broker to invest them in a Vault Instrument of your choosing. This means that you are subject to the investment risk and any other risks associated with that Vault Instrument and asset class. Before using the Vault, please carefully read our Risk Disclaimer including the Target Market Matrix (especially in regards to UCITS MMF’s), available as Schedule 3 of the Agreement.

3.1 The Vault enables us to instruct the Broker to purchase and sell Vault Instrument units or shares on your instruction on an execution-only basis.

3.2 By confirming you wish to open and transfer cash to a Vault, you authorise us to instruct the Broker to execute buy orders for the selected Vault Instrument with the entirety of the cash (that is not already invested) transferred to that Vault. All subsequent transfers into the Vault will be deemed as additional buy orders for the selected Vault Instrument.

3.3 By withdrawing funds from the Vault, you authorise us to instruct the Broker to execute a sell order for the selected Vault Instrument to the extent necessary to facilitate the withdrawal from the Vault to your Account.

3.4 Orders for Vault Instruments shall be executed at least once per working day. Cash transferred to the Vault before that time of execution will be executed on the same working day. Where relevant, the cut-off time is provided in the Lightyear App. All fund transfers after that time will be executed on the subsequent working day when it's possible to execute the transaction. In some cases the Vault Instrument execution may also be instant.

3.5 Vault Instruments issue regular distribution (such as dividends or interest payments for example) (Distribution), usually once a month. Such Distributions will be automatically reinvested within the Vault. You can choose, in App, to opt out of automatic reinvestment and have them paid directly to your Account instead. By agreeing to the automatic reinvestment opt in, you authorise us to instruct Broker to execute a buy order in the size of each Distribution for the selected Vault Instrument.

3.6 You understand and acknowledge that execution of Orders is not guaranteed and in some cases Orders for Vault Instruments may not execute for operational, regulatory, third-party related or other reasons. More details are available in the Agreement and in our Order Execution Policy.

4.1 You may only deposit cash to the Vault from your Account held on the Lightyear platform. Similarly, you may only withdraw funds from the Vault to your Account.

5.1 When using the Vault, you are subject to Lightyear fees, as well as fees associated with the Vault Instrument that you invested in, such as fund managers fund management fees for example. Lightyear fees for the Vault are available on our website. Information about fees associated with the Vault Instrument are available in the Lightyear App as well as in Vault Instrument’s key information document, prospectus and on the fund manager’s website.

5.2 The fee for using the Vault as specified (Vault Fee) shall be deducted automatically from your Distributions.

5.3 We will notify you of any changes in our fees as provided in the Agreement.

6.1 You may terminate this Vault at any time and for any reason by withdrawing your funds from the Vault and instructing us to close your Vault via email to support@lightyear.com. If your Account is terminated, the Vault is terminated automatically as well.

6.2 Using the Vault and investing into Vault Instruments may have tax implications. Make sure you understand what taxes you may need to pay in connection with the Distributions from the Vault before you start using it. We do not provide tax advice.

1.1 These Plans Terms (“Terms”) form a Schedule to the Agreement between you and Lightyear. Unless defined otherwise in these Terms, all definitions are adopted from Lightyear’s Terms of Service (“Agreement”).

1.2 In case there is any conflict or discrepancy between these Terms and the Agreement, the provisions in these Terms shall prevail. Otherwise, for matters not regulated in these Terms, the provisions of the Agreement shall apply.

2.1 A Plan is a feature in the Lightyear App that lets you set up and manage your own portfolio of eligible Instruments (your “Plan Instruments”). With a Plan you can, subject to the limitations set out in Clause 2.3 of these Terms:

2.1.1 choose which Instruments to include and how much of each you want to buy (your allocation);

2.1.2 decide how much you want to contribute and how often; and

2.1.3 have Lightyear automatically place buy Orders on your chosen schedule.

2.2 You can create more than one Plan, and each Plan will have its own allocations and schedule.

2.3 Only fractional Instruments available on the Lightyear platform are eligible for automatic investment with the Plans. You may include non-fractional instruments in a Plan, but these will not be automatically invested into.

2.4 Lightyear may set a cap on the number of Plan Instruments that can be included in a single Plan. The cap is determined by Lightyear and may change from time to time.

2.5 You can view the current list of eligible Plan Instruments in the Lightyear App.

3.1 You may fund contributions to your Plan from:

3.1.1 standing Order payments to your unique Lightyear payment reference; or

3.1.2 uninvested cash already in your Lightyear Account. We may add, change, or remove funding methods from time to time. The options shown in the Lightyear app are always the latest available

3.2 For automated investments, you can choose to contribute weekly, fortnightly (every two weeks), or monthly, and select the date for execution. If your chosen date falls on a day when the market for a Plan Instrument is closed, your Orders will be placed on the next available trading day. Orders for Plan Instruments whose markets are open will proceed as scheduled.

3.3 Orders for each Plan Instrument will be placed as Market Orders on the execution date, using your most recent allocation settings and the cleared funds available at that time. If there are not enough cleared funds in your Account, the contribution for that date will be skipped. Skipping a contribution does not cancel any future scheduled contributions.

3.4 If you set a regular contribution amount for your Plan in the Lightyear app but make a standing Order payment that is larger or smaller, the full amount of the standing Order received will be invested into your Plan according to your latest allocation settings. In this case, the standing Order amount prevails over the contribution amount set in the app. 3.5 Any proceeds from corporate actions relating to Instruments held in a Plan (including dividends, splits, mergers, rights issues, or other distributions) will be credited to your Lightyear Account in which the Plan is held. Such proceeds will not automatically be reinvested into your Plan. If you want them reinvested, you will need to take action yourself.

4.1 Standing Orders

4.1.1 All standing order contributions are received in your home market currency (the base currency linked to your country of residency, e.g. GBP).

4.1.2 If a Plan Instrument is priced in another currency, your standing Order contribution will be converted into that currency at the prevailing FX rate, and the FX fee set out in our Service Fees will apply.

4.2 Cash balances

4.2.1 If you fund your Plan using cash already held in your Lightyear Account, we will first use any available balance in the same currency as the relevant Plan Instrument.

4.2.2 If no matching balance is available, we will convert from another balance in your Account at the prevailing FX rate, and the currency conversion fee set out in our Service Fees will apply.

5.1 Fees for Orders placed as part of a Plan are the same as for standard trading in the same account type (e.g. ISA or GIA) and instrument type, as set out in our Service Fees.

6. Managing and Ending Your Plan

6.1 You may edit, pause or resume a Plan at any time. While a Plan is paused, no scheduled contributions or investments will be made. If you have set up a standing order with your bank, you are responsible for cancelling or amending it directly. Any payments received from a standing order while a Plan is paused will not be invested in the Plan but will instead be credited to the cash balance of the account in which the Plan is held (e.g. your GIA or S&S ISA).

6.2 You may delete a Plan at any time. When you delete a Plan, the Lightyear App will show you the available options for handling the Instruments held in that Plan.

6.3 We may remove Plan Instruments from eligibility at any time. If a Plan Instrument is removed, it will not receive future contributions but will remain in your portfolio unless you choose to sell it.

6.4 If a Plan Instrument is delisted, becomes ineligible, or an order otherwise fails (for example due to trading restrictions, market liquidity, or the instrument being unlisted), any resulting cash will be credited to your Lightyear Account in which the Plan is held. The allocation for that Instrument will not be automatically redistributed across your remaining Plan Instruments, and will remain as cash in your portfolio unless you adjust your Plan settings.

6.5 You are responsible for the allocations, instruments and schedules you set within your Plan. Lightyear is not liable for investment losses resulting from your selections or from market movements.

6.6 You are solely responsible for all tax consequences that may arise from using Plans, including but not limited to, the tax treatment of contributions, withdrawals, and investment gains or losses within your account.

Throughout this Agreement we use certain capitalised terms that have the following specific meanings.

Account: means the account maintained with us in your name (either GIA or an ISA) through which you will submit Orders via the Lightyear App and can use the Services.

Agreement: means the Lightyear U.K. Limited Terms of Service and its schedules and appendices as amended from time to time and made available in Lightyear App and our website.

Applicable Law: means any and all applicable laws, legislation, bye-laws, decisions, notices, statutes, orders, rules (including any rules or decisions of court), regulations, directives, edicts, schemes, warrants, local government rules, statutory instruments or other delegated or subordinate legislation and any directions, codes of practice issued pursuant to any legislation, voluntary codes, other instruments made or to be made under any statute and codes of conduct and mandatory guidelines (including in all cases those that relate to audit, accounting or financial reporting) and which have legal effect, whether local, national, international or otherwise existing from time to time, together with any similar instrument having legal effect in the relevant circumstances, and shall include, for the avoidance of doubt, anti-money laundering requirements.

Broker: means a third party to whom Lightyear U.K. Ltd transmits orders for execution pursuant to Applicable Law. This may include Lightyear Europe AS, sister company of Lightyear.

Cash ISA: means a type of ISA that allows you to earn tax-free interest on your savings, with no tax due on the interest earned within the account.

CASS: means Client Assets Sourcebook.

FCA: means the Financial Conduct Authority of 12 Endeavour Square, London, E20 1JN.

FCA Rules: means the FCA Handbook of Rules and Guidance.

GIA: means the general investment account.

Instruments: means the financial investments and instruments available via the Lightyear App for which you may submit Orders.

ISA: means an individual savings account in accordance with the ISA Regulations.

ISA Regulations: means the Individual Savings Account Regulations 1998 (SI 1998/1870) as amended from time to time.

Lightyear: means Lightyear U.K. Limited.

Lightyear App: means the Lightyear mobile and web application through which we will provide you with the Services.

Limit Order: means an Order to buy at a specified price or lower, or to sell at a specified price or higher. A Limit Order may not be executed at all. We are not liable for any loss arising from non-execution. By placing a Limit Order, you agree we will not disclose or publish details of unexecuted Limit Orders.

Market Data: as defined in Clause 4.1.10 of the general Terms and Conditions in Part A, this means means any data related to Instruments and transactions executed via the Lightyear App (including real-time or delayed prices, volumes, and other related data) provided through the Lightyear App.

Market Order: means an Order to buy or sell Instruments immediately during market hours at the best available price at that time. We may automatically convert a market buy Order into a Limit Order with a 5% collar to help cushion against significant upward price movements.

Market Hours: means the hours when the trading venues of Instruments made available via Lightyear App are open.

Lightyear Nominee: as defined in Clause 14.6 of the General Terms and Conditions in Part A, this means Lightyear Nominees Ltd, the entity in whose name securities accounts will generally be opened for the purpose of holding Instruments in omnibus (pooled) accounts on behalf of customers.

Order: as defined in Clause 14.1 of the general Terms and Conditions in Part A, this means an instruction from you to carry out a Transaction involving a specific Instrument through the Lightyear App.

Order Execution Policy: Lightyear Order Execution Policy available in Lightyear App and our website.

Plan: a feature in the Lightyear App that allows you to set up and manage your own portfolio of eligible Instruments (your “Plan Instruments”) by choosing allocations, setting contribution amounts and frequency, and having Lightyear automatically place buy Orders on your chosen schedule.

Plan Instruments: as defined in Clause 2.1 of the Plans Terms in Part B, this means the eligible Instruments that you include in and allocate to your Plan, which together make up your portfolio under that Plan.

Positions: means your positions in the Instruments that you hold as a result of the Orders that you have submitted via the Lightyear App which have been executed.

Professional Client: means a per se or elective professional client pursuant to Applicable Law.

Repeat Order: means a Market Order placed on a regular schedule over a time period you choose. Repeat Orders are always treated as Market Orders and subject to the same terms.

Retail Client: means a retail client pursuant to Applicable Law, who is not a Professional Client.

Risk Disclosure: means the Lightyear Risk Disclosure, which is available on our website and in Lightyear App.

S&S ISA: means a “stocks and shares account” as defined by the ISA Regulations.

Service Provider: means Lightyear and the officers, directors, agents, partners, employees, licensors, distributors, and representatives of Lightyear.

Services: means the services that Lightyear provides to you under this Agreement which are set out in Clause 12.1 of the general Terms and Conditions in Part A.

Stop Order: means an Order to buy or sell at the market price once the Instrument has traded at or through a specified “stop” price. Once triggered, a Stop Order becomes a Market Order and is filled at the next available market price, which may differ from the stop price. For example, if the market opens below your stop price after being closed, or if the market moves quickly through your stop level, the Order will trigger at the next available price. If the Instrument does not reach the stop price, the Order is not executed. We are not liable for any loss arising from this. By placing a Stop Order, you agree we will not disclose or publish details of unexecuted Stop Orders.

Sub Custodian: means a third party with whom Lightyear U.K. Ltd may deposit safe custody assets pursuant to Applicable Law. This may include Lightyear Europe AS, a sister company of Lightyear.

Subscription: means an amount (whether in cash or investments) that you pay or transfer into your ISA and which counts towards your overall allowance for that tax year.

Transaction: means funding your Account, a currency conversion, or any activity related to Instruments under the Agreement.