Legal Information

This content and the related materials (the "Course Content") are provided by Research Academy staff for the purpose of training and information only. It is meant to inform you about some of the methodologies used to assess the business, operations, and finances of corporate issuers. The Course Content is a general communication and is educational in nature, and does not constitute an advertisement, offer or solicitation, recommendation or opinion or any other regulated activity with respect to any service, security or financial instrument.

The Course Content does not constitute investment advice, financial product advice or investment research, and by providing the Course Content, none of UBS AG, London Branch, Research Academy staff or their respective affiliates has any responsibility or, as part of the Course Content, authority to provide, nor has any provided, investment research, investment advice or financial product advice to you or acted in a fiduciary or advisory capacity with respect to you. Research Academy makes no representations or warranties, express or implied, that the Course Content is accurate, complete, current or suitable to any investment objective that you may have, and should not be relied upon as such. In no circumstances should the Course Content be used for any of the following purposes: (i) valuation or accounting purposes; (ii) to determine amounts due or payable, the price of any financial instrument or financial contract; or (iii) to measure the performance of any financial instrument.

To the extent that the Course Content includes examples of historical research or analysis, it is not current and you must not rely on it (and such examples are provided merely as illustrative examples for training purposes).

To the extent the Course Content contains financial data and other information regarding any company or security it is for illustrative educational purposes only, may not be accurate or current and should not be relied upon as a measure of the value of any security of such company. This information is not presented by UBS AG, London Branch, Research Academy staff or their respective affiliates with any view as to the advisability of investing in, purchasing, or selling any such security, or to issue or promulgate analyses or reports concerning any such security, or otherwise make recommendations regarding any such security.

You should consider obtaining independent legal, financial and tax advice before making any investment decisions. The Course Content has not been reviewed by any regulatory authority in any jurisdiction.

The Course Content is part of the UBS Research Academy training programme and not intended for use by users in jurisdictions which prohibit or restrict the distribution of the material.

The Course Content is non-credit bearing. No assessment will take place and no formal qualification, diploma, degree, nor any units or credits towards such, will be awarded for completion of the training session.

For users based in:

  • the People's Republic of China ("PRC"), please note that any video content that you see is hosted on a platform located outside of the PRC; and
  • France, the Course Content is deemed to have been prepared and distributed by UBS Europe ESE a subsidiary of UBS AG. UBS Europe SE is authorised by the European Central Bank ("ECB") and regulated by the BaFin and the ECB.

The Course Content is the valuable intellectual property of UBS AG and may not be copied, reproduced or distributed in whole or in part without the prior written consent of UBS AG.

By receiving and utilizing the Course Content, you acknowledge and agree with the intended purpose described above.