Rules & Legal

Osuuskunnan säännöt

      1. Osuuskunnan nimi on Robin Hood Asset Management Osuuskunta.
      2. Osuuskunnan kotipaikka on Helsinki, Suomi.
      3. Osuuskunnan tarkoituksena ja toimialana on harjoittaa pienten varain ja kykyjen hoitoa: taiteellisen, tiedollisen ja affektiivisen työn ja ilmaisun resurssien, kykyjen ja varojen konsultointi-, organisointi-, tutkimus-, kehitys-, muotoilu-, koulutus-, julkaisu-, kustannus- , omistus- ja sijoitustoimintaa, joka kehittää ja luo suosiollista ekosysteemiä osuuskunnan jäsenille ja liittolaisille.
      4. Osuuden nimellisarvo on 30€, joka suoritetaan viikon kuluessa siitä, kun henkilö on saanut ilmoituksen jäsenyytensä hyväksymisestä. Osuusmaksu suoritetaan osuuskunnan ilmoittamalle tilille. Osuuskunta ilmoittaa jäsenelle sovitulla tavalla osuusmaksun ja maksupäivän.
      5. Osuuskunnan tilikausi on kalenterivuosi, joka alkaa heinäkuun 1. päivänä ja loppuu kesäkuun 30. päivänä.
      6. Osuuskunnalla on hallitus, joka käsittää korkeintaan kuusi henkilöä. Joka toinen vuosi kaksi hallituksen jäsentä tai kolmasosa hallituksesta ovat erovuorossa, joiden tilalle valitaan osuuskunnan vuosikokouksessa uudet hallituksen jäsenet. Hallituksen jäsenet voidaan valita uudestaan. Ensimmäinen hallitus päättää hallituksen jäsenten erovuorot.
      7. Osuuskunnalla on toimitusjohtaja sekä toimitusjohtajan sijainen, jotka osuuskunnan hallitus valitsee. Hallitus päättää hallituksen ja toimitusjohtajan ja toimitusjohtajan sijaisen välisistä vastuunjaoista. Toimitusjohtaja ja toimitusjohtajan sijainen voivat olla hallituksen jäseniä.
      8. Osuuskunnan toimitusjohtaja ja hänen sijaisensa toteuttavat osuuskunnan toimeenpanon. Heidän toimikautensa on kaksi vuotta. Heidät voidaan valita uudestaan.
      9. Osuuskunta voi antaa jäsenille vapaaehtoisia osuuksia sen lisäksi mitä 4§:ssä säädetään. Osuuskunnan kokous päättää tai valtuuttaa hallituksen päättämään osuuksien antamisesta.
      10. Jäsenet suorittavat osuuskunnalle liittymismaksun kalenterivuosittain sen mukaan kuin osuuskunnan kokous liittymismaksun suorittamisvelvollisuudesta, liittymismaksun määrästä ja sen muista ehdoista päättää. Osuuskunnan kokous voi myös valtuuttaa hallituksen päättämään näistä asioista. Tällainen valtuutus voidaan antaa enintään viideksi vuodeksi kerrallaan. Liittymismaksua ei palauteta.
      11. Osuuskunta voi palkata työntekijöikseen myös muita kuin osuuskunnan jäseniä. Työntekijöiden palkkaamisesta päättää osuuskunnan hallitus.
      12. Toiminnasta kertyvä ylijäämä sijoitetaan pääasiassa osuuskunnan tavoitteita edistävän toiminnan, palveluiden ja tuotteiden kehittämiseen. Ylijäämää saadaan jakaa myös jäsenille.
      13. Osuuskunnan hallituksen puheenjohtajalla, sekä toimitusjohtajalla ja toimitusjohtajan sijaisella on toiminimenkirjoitusoikeus kullakin erikseen. Toiminimenkirjoitusoikeus voidaan hallituksen päätöksellä antaa myös muulle henkilölle.

Articles of the Cooperative, Unofficial English Translation

      1. The name of the cooperative is Robin Hood Asset Management Cooperative.
      2. The home location of the cooperative is Helsinki, Finland.
      3. The aim of the cooperative is to exercise minor asset management: consultation, organization, research, development, design, education, publication, holding, investment and management of assets, capabilities and resources of artistic, cognitive and affective work and expression to develop and create an ecosystem that benefits the members and allies of the cooperative.
      4. The nominal value of the share of the cooperative is 30€ and it is paid within one week after receiving the notice of acceptance of membership. The share of the cooperative is paid to the account of the cooperative. The acceptance of the membership and the due date of payment is notified to the member by the cooperative.
      5. The fiscal period of the cooperative is one calendar year, which begins the 1st of July and ends the 30th of June.
      6. The cooperative has a board which has a maximum of six members. The turn of leave for two members or one third of the board is every second year. In their place the annual meeting selects new members of the board. Members of the board can be selected to another term. The first board decides the first terms of leave.
      7. The cooperative has a managing director and a vice managing director selected by the board. The board decides the distribution of the responsibilities between the board and the managing director and the vice managing director. The managing director and the vice managing director can be members of the board.
      8. The managing director and the vice managing director execute the daily affairs of the cooperative. Their term in office is two years. They can be selected to another term.
      9. The cooperative can accept voluntary shares in addition to the share mentioned in article 4. The cooperative meeting accepts or authorizes the board to accept the voluntary shares.
      10. Members of the cooperative pay an annual membership fee (“liittymismaksu”) to the cooperative, if the annual member meeting so decides, and in the amount and manner defined by the meeting. The cooperative meeting can also authorize the board to make these decisions. Such authorization can be given for maximum five years at a time. The membership fee is not returned.
        1. The cooperative can employ also workers who are not members. The board decides the terms of employment.
        2. The profit is mainly invested in the development of production, services and products benefitting the aims of the cooperative. The profit can be divided to members.
        3. The chairman of the board, the managing director and the vice managing director have the authority to sign contracts on behalf of the cooperative, each individually. The authority to sign contracts can be transferred to a third party by the board’s decision.

Finnish Co-operatives Act

The coop follows Finnish law. Cooperations are covered by the cooperatives act.

In Finnish: http://www.finlex.fi/fi/laki/alkup/2013/20130421

In Swedish: http://www.finlex.fi/sv/laki/alkup/2013/20130421

The new Act is not yet translated into English. Instead, to give an idea of what it is like, here is a link to the old Act from 2001 by the Finnish Ministry of Justice: http://www.finlex.fi/en/laki/kaannokset/2001/en20011488.pdf
 

 

Operations, Membership, and Investment Disclaimers

      1. Member restrictions. The Cooperative embraces equality. However, as we are dealing with highly regulated financial markets with risks, all the Cooperative members need to be 18 years of age or older, and have full legal capacity for entering into economical contracts. It is the responsibility of the applying member to refrain from applying if she/he does not comply.
      2. Investments in Cooperative shares. When buying shares, the member buys equity in the Cooperative. The Cooperative then invests that equity in currency and stock exchange markets. These assets under management may go up or down in value. Past performance of the portfolio does not guarantee future performance.
      3. Applicable laws and regulations. The Cooperative follows the financial regulations of Finnish law, including those on taxation. By becoming a member of the Cooperative and by purchasing any shares, you agree to follow the articles of the Cooperative and appropriate Finnish legislation. In addition your are subject to any legislation and regulations in your resident country and/or country of citizenship.
      4. Profits and costs. The operating costs of the cooperative will be drawn from the assets under management, in the amount and manner decided by the board, as authorized by the membership meeting. The membership meeting also has the power to decide how the profits are to be used, or losses to be handled.
      5. Selling back the shares. A member can decide to sell her or his additional shares back to the Cooperative or to another member. Selling decision can be taken at any time, but their value can be determined only after the books of the fiscal year have been closed and accepted by the general meeting. After that the member will receive the sales sum according to the value of the shares. In practice, this often means a significant delay of several months before the sale of the shares is executed. Furthermore, the new Finnish Cooperative Act sets 6 months as the minimum time to be waited (after the books are closed) before the share value transfer can be made back to member’s bank account.
      6. Cancellation of the membership. A member can cancel membership at any time. The initial membership fee will not be reimbursed, but all the shares can be sold back to the Cooperative as described in the Finnish Cooperative Act and the Articles of the Cooperative.
      7. Member information. The Cooperative keeps a register of all the members as required by the Finnish regulations. This register is subject to public inquiries, and will be made public for example in the member meetings.
      8. Members’ and the Cooperative’s liabilities. Members, as separate legal entities, are not liable for the acts of the Cooperative. Furthermore, members’ financial liabilities are restricted to the amount of money they invest in the shares. However, the members, as the ultimate holders of power in the Cooperative are urged to use their power responsibly. The Cooperative’s liabilities are stated in the Finnish law, Finnish Cooperative Act, and in the Articles of the Cooperative. Robin Hood Asset Management Cooperative takes its responsibilities very seriously.

Terms of Website Use

Use of this site is provided by Robin Hood Asset Management Cooperative subject to the following Terms and Conditions.

      1. Your access and/or use of this website constitutes acceptance of these Terms and Conditions as at the date of your first use of the website.
      2. Robin Hood reserves the right to change these Terms and Conditions at any time by posting changes online. Your continued use of the website after changes are posted constitutes your acceptance of these Terms and Conditions as modified. You should therefore review these Terms and Conditions prior to each use of the website.
      3. Robin Hood may change, suspend or discontinue any part of this website at any time. Robin Hood may also impose limits on certain features and services or restrict your access to parts or all of the website without notice or liability.
      4. You agree to use the website only for lawful purposes, and in a manner, which does not infringe the rights, or restrict, or inhibit the use and enjoyment of the website by any third party.
      5. The website and the information, names, images, pictures, trademarks regarding or relating to Robin Hood are provided “as is” without any representation or endorsement made and without warranty of any kind whether express or implied. To the extent permitted by law, Robin Hood disclaims all liability for any loss or damage including, without limitation, indirect, special or consequential loss or damages, or any loss or damages whatsoever arising from the use or in connection with such use or loss of use of the website, whether in contract or in negligence. Nothing in these Terms and Conditions limits or excludes Robin Hood’s liability for death or personal injury resulting from negligence, fraud, or any liability that cannot be excluded in accordance with applicable law.
      6. Robin Hood does not warrant that the functions and materials contained in the website will be: uninterrupted or error free; that defects will be corrected; that the website, or the server that makes it available are free of viruses or bugs; or represent the full functionality, accuracy and reliability of the materials.
      7. All intellectual property in the website and the material or information it contains (including without limitation copyright, designs, database rights and trade marks (registered or unregistered) is and shall remain the property of Robin Hood or its third party licensors.
        Commercial use or publication of all or any item displayed is strictly prohibited without authorization from Robin Hood. Nothing contained in these Terms and Conditions shall be construed as conferring any license by Robin Hood to use any item displayed.
        Materials in the website may be copied for personal use only on the condition that all copyright notices and source indications are also reproduced, no modifications are made and each relevant item is copied in its entirety. However, some materials have been published on the website with the permission of the relevant copyright owners (who are not Robin Hood). All rights are reserved on these materials and permission to copy them must be requested from the copyright owners (as indicated within these materials).
      8. Robin Hood is not responsible for the content of external Internet websites. Following links to any other websites or pages shall be at your own risk and Robin Hood shall not be responsible or liable, directly or indirectly, for any damages resulting from the use of such other websites.
      9. You are solely responsible for the content of any submission you make to the website. Any communication or material that you transmit to, or post on, any public area of the website including any data, questions, comments, suggestions, or the like, is, and will be treated as, non-confidential and non-proprietary information. Robin Hood reserves the right to remove, edit, modify, publish, transmit or display any such communication or material from the Website at its own discretion. You waive any rights you may have in having the material altered or changed in a manner not agreeable to you.
      10. If there is any conflict between these Terms and Conditions and rules and/or specific terms of use appearing on the website relating to specific material then the latter shall prevail.
      11. These Terms and Conditions shall be governed and construed in accordance with the laws of Finland. Any disputes shall be subject, to the extent permitted by law, to the exclusive jurisdiction of the courts of Finland.
      12. If these Terms and Conditions are not accepted in full, the use of the website must be terminated immediately.
        This site is operated by Robin Hood Asset Management Cooperative, located in Helsinki, Finland.
        Privacy Policy
        By entering and using this website you are deemed to accept the provisions of Robin Hood’s Privacy Policy.
        This policy applies to all the pages hosted on this site. It does not apply to pages hosted by Robin Hood’s affiliates, linked organizations, partners, or to other organizations to which we may provide a link and whose privacy policies may differ.
        Please read the following to understand how your personal information will be treated. The policy may change from time to time so please check back periodically.
      13. What information do we collect?
        We collect personal information (including demographic and personal profile data) as volunteered by you in registration forms, subscriptions, campaigns and e-actions. However, you can access our web site without disclosing any of your personal data. Robin Hood may also collect the following (non-identifying) information:
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        The type of browser (for example Internet Explorer or Firefox)
        The operating system you use (for example, Windows, Macintosh)
        The date and time of your visit
        The pages you access

Robin Hood also collects personal information. Robin Hood may place Internet “cookies” on your hard drive. These cookies may save data about you such as your name and the pages of the website that you viewed. You may decline, disable or delete the Internet cookies while visiting the website by activating the relevant browser setting. However, doing so may affect the website functionality.

    1. How is your information used?
      Robin Hood uses the information to help us understand more about how supporters use our site and to make improvements. We also use the information for marketing purposes such as sending you our proposed e-newsletter.
    2. Does Robin Hood share your information?
      The information you provide will not be sold or rented nor will it be shared with third parties unless we have your permission or are required to disclose the information by law.
    3. How secure is the information you give us?
      We make every reasonable effort to protect the loss, misuse, and alteration of the information under our control. However, no data transmission over the Internet can be guaranteed to be 100 percent secure.
    4. How do you opt out of receiving messages from Robin Hood?
      We will only send you emails if you have given us permission to contact you about Robin Hood’s work. We do not send out random, untargeted emails (spam). Any emails we send you will enable you to opt-out of receiving further emails from us.
    5. How does Robin Hood protect children’s privacy?
      The safety of children is very important to us. No information should be submitted to or posted at Robin Hood by children without prior parental consent. All applicable laws are followed with respect to data collection from children. No sharing of data collected from children with any third parties is permitted at any time under any circumstances. All Cooperative members need to be over 18 years of age at the date of joining.