ASIC Class Orders

The following disclosure relates to J.P. Morgan clients domiciled in Australia only.

Under Australian licensing requirements, the provision of financial services to Australian entities generally requires a financial service provider to hold an Australian Financial Services License (AFSL), unless an exemption is granted by the Australian Securities and Investments Commission (ASIC). If you, or any client(s) you act for, are domiciled in Australia, you are notified that the following entities do not hold an Australian financial services license covering the financial services they provide to you:

J.P. Morgan Securities LLC;
J.P. Morgan Investment Management Inc.;
J.P. Morgan Securities plc;
JPMorgan Asset Management (UK) Limited;
J.P. Morgan Markets Limited;
J.P. Morgan Securities (Asia Pacific) Limited;
J.P. Morgan Funds (Asia) Limited;
J.P. Morgan (S.E.A.) Limited;
J.P. Morgan Securities Asia Private Limited;
J.P. Morgan Securities Singapore Private Limited;
J.P. Morgan Asset Management (Singapore) Limited;
JPMorgan Asset Management (Europe) S.a.r.l; and
J.P. Morgan SE

(together J.P. Morgan).

These J.P. Morgan entities are exempt from the requirement to hold an AFSL under the Corporations Act 2001 of Australia (the “Corporations Act”) in respect of the financial service(s) they provide to you and are regulated as follows:

J.P. Morgan Securities LLC and J.P. Morgan Investment Management Inc.
J.P. Morgan Securities LLC and J.P. Morgan Investment Management Inc. are regulated by the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, and the U.S. Commodity Futures Trading Commission under the laws of the United States of America, which differ from Australian laws.

J.P. Morgan Securities plc
J.P. Morgan Securities plc is authorised by the Prudential Regulation Authority (“PRA”) and regulated by the Financial Conduct Authority and the PRA under the laws of United Kingdom, which differ from Australian laws.

J.P. Morgan Markets Limited and JPMorgan Asset Management (UK) Limited
J.P. Morgan Markets Limited and JPMorgan Asset Management (UK) Limited are authorised and regulated by the Financial Conduct Authority under the laws of United Kingdom, which differ from Australian laws.

J.P. Morgan Securities (Asia Pacific) Limited and JPMorgan Funds (Asia) Limited
J.P. Morgan Securities (Asia Pacific) Limited and JPMorgan Funds (Asia) Limited are regulated by the Hong Kong Securities and Futures Commission under the laws of Hong Kong, which differ from Australian laws.

J.P. Morgan (S.E.A) Limited, J.P. Morgan Securities Asia Private Limited, J.P. Morgan Securities Singapore Private Limited and J.P. Morgan Asset Management (Singapore) Limited
J.P. Morgan (S.E.A.) Limited, J.P. Morgan Securities Asia Private Limited, J.P. Morgan Securities Singapore Private Limited and JPMorgan Asset Management (Singapore) Limited are regulated by the Monetary Authority of Singapore under the laws of Singapore, which differ from Australian laws.

JPMorgan Asset Management (Europe) S.a.r.l
JPMorgan Asset Management (Europe) S.a.r.l is regulated by the Commission de Surveillance du Secteur Financier (the Commission for the Supervision of the Financial Sector) under the laws of Luxemburg, which differ from Australian laws. 

J.P. Morgan SE
J.P. Morgan SE is regulated by BaFin under the laws of Germany, which differ from Australian laws.

J.P. Morgan understands that you are a wholesale client within the meaning of section 761G of the Corporations Act (Wholesale Client). J.P. Morgan may only continue to provide you with financial services while you remain a Wholesale Client. Please inform your usual J.P. Morgan contact if you are not a Wholesale Client now or if you cease to be a Wholesale Client at any time in the future.