Legal and Regulatory Notice

Pillar 3 / Stewardship (pdf)


This website is issued in the United Kingdom and the European Economic Area by Theleme Partners LLP. It is issued in the rest of the world by Theleme Capital Partners Limited (Cayman).

Theleme Partners LLP is authorised and regulated by the Financial Conduct Authority. It is a limited liability partnership registered in England and Wales (No. OC347655). Its registered office is 15 Davies Street, London W1K 3AG.

Website Use

This website is directed only at persons who are professional clients or eligible counterparties for the purposes of the Financial Conduct Authority’s Conduct of Business Sourcebook.

The information provided on this website regarding funds managed or advised by Theleme Partners LLP or regarding any services offered by Theleme Capital Partners Limited (Cayman) is not directed to any United States person or any person in the United States, including any state thereof or any of its territories or possessions.

Information displayed on this website contains material that may be interpreted by the relevant authorities in the country in which you are resident or from which you are viewing the website as a financial promotion or an offer to purchase securities. Accordingly, the information on this website is only intended to be viewed by persons who fall outside the scope of any law that seeks to regulate financial promotions in your country of residence or in the country in which the website is being viewed. Examples of such persons may be governmental agencies, persons sufficiently experienced in investment business to appreciate the risks associated with investment services promoted on this site, large corporations and trusts and high net worth individuals. These examples are not country specific, may not be relevant to the country in which the website is being viewed and are provided for illustration purposes only. If you are uncertain about your position under the laws of your country of residence or the country in which the website is being viewed then you should consult your legal adviser.

By accessing any part of the website, you shall be deemed to have accepted this Legal and Regulatory Notice in full. If you do not accept this, you must leave the website immediately. We may revise this notice at any time, without notice.


Applications to invest in any product referred to on this website must only be made on the basis of the specific documentation relating to that investment and the terms of such investment shall be solely as provided therein. Particular note should be taken of any risk warnings contained in such documentation.

No Reliance

Unless expressly stated therein, no representation or warranty is made as to the accuracy, reliability or completeness of any information on this website. Opinions and any other contents on this website are provided for informational purposes only and are subject to change without notice. Information on this website may be out of date and may not be updated or removed. Nothing on this website constitutes investment, legal, tax or other advice. You should obtain appropriate professional advice before making any investment decision.


Theleme Partners LLP, Theleme Capital Partners Limited (Cayman) and their affiliates and the officers, directors, employees, shareholders or agents thereof, exclude all liability and responsibility for any amount or kind of loss or damage that may result to you or a third party (including without limitation, any direct, indirect, punitive or consequential loss or damages, or any loss of income, profits, goodwill, data, contracts, use of money, or loss or damages arising from or connected in any way to business interruption, and whether in tort (including without limitation negligence), contract or otherwise) in connection with this website in any way or in connection with the use, inability to use or the results of use of this website, any websites linked to this website or the material on such websites, including but not limited to loss or damage due to viruses that may infect your computer equipment, software, data or other property on account of your access to, use of, or browsing this website or your downloading of any material from this website or any websites linked to this website. Nothing in this notice shall exclude or limit the liability of Theleme Partners LLP, Theleme Capital Partners Limited (Cayman) or any affiliate thereof for death or personal injury caused by negligence or fraud, or any other liability which cannot be excluded or limited under applicable law.

This Legal and Regulatory Notice shall be governed and construed in accordance with English law.