Research & Anya — Subscriber Terms

Status of this agreement

These subscriber terms (“Research Terms”) are a supplement to the Briefed Terms of Service. They govern your use of Briefed Research and Anya specifically. By subscribing to a paid Research tier (Pro, Max, or Team), you accept both the general Terms of Service and these Research Terms. In the event of any conflict between the two, these Research Terms prevail for matters relating to Research and Anya.

These Research Terms are presented for your acceptance at the point of subscription and must be re-accepted if the tier to which you are subscribing changes materially.

What this covers

These terms apply to all paid Research tier subscribers (Pro, Max, and Team). They cover:

• The Briefed Research terminal — a market data and signal intelligence interface for monitoring securities, sectors, and macro conditions
• Anya — an AI research assistant that synthesises Research terminal data into exposure assessments, signal analyses, and narrative briefs
• Any Research outputs generated by or through either of the above, including exposure scores, directional tags, daily briefs, and drill-down analyses

They do not apply to the free Research tier (limited to 30 searches per month, no universe configuration), Briefed Daily or Weekly newsletters, Briefed Intelligence, or Atlas, which are governed by the general Terms of Service and, in the case of Atlas, the Atlas Data Subject Notice.

Professional certification

By subscribing to a paid Research tier, you confirm and certify that:

• You are an investment professional within the meaning of Article 19 of the Financial Promotions Order 2005, in that your ordinary activities involve you in carrying out investments as principal or agent for the purposes of a business carried on by you or your employer, or you are otherwise a person to whom research and market analysis communications are legitimately directed in a professional context
• You are accessing Briefed Research and Anya in a professional, commercial, or institutional capacity — as an analyst, portfolio manager, fund manager, investment banker, corporate finance professional, independent researcher, or equivalent — and not for the purpose of making personal retail investment decisions
• You are 18 or older
• Where applicable, you are authorised by your employer or organisation to subscribe to and use professional research tools of this nature

If you are unable to make any of these certifications, you must not subscribe to a paid Research tier. The free Research tier is available without this certification.

You must notify us immediately at legal@briefedmedia.com if your circumstances change such that you can no longer make these certifications. We may suspend or terminate your subscription if we have reasonable grounds to believe the certification is or has become inaccurate.

What Research and Anya are

The Briefed Research terminal is a professional information tool. It aggregates and displays market data, macro signals, and proprietary composite indices drawn from public and licensed third-party sources. It is the equivalent of a curated data and signal feed for analysts — it surfaces information, it does not advise.

Anya is an AI research assistant. She is designed to perform the functions of a junior sell-side or buy-side analyst: monitoring a user-configured universe of securities and macro conditions, synthesising signals into narrative assessments, and surfacing emerging themes and divergences. Anya’s outputs are the product of automated analysis of data in her dataset at a point in time. They are generated without any knowledge of your personal financial position, investment objectives, risk tolerance, or regulatory status.

Neither the Research terminal nor Anya is a financial adviser, portfolio manager, or regulated investment service.

Not investment advice

Nothing produced by Briefed Research or Anya constitutes, and must not be construed as:

• A personal recommendation within the meaning of the FCA’s Conduct of Business Sourcebook (COBS 9)
• Investment advice as defined under the Financial Services and Markets Act 2000 (FSMA) or the Markets in Financial Instruments Directive (MiFID II)
• A financial promotion within the meaning of section 21 FSMA or the Financial Promotions Order 2005
• An inducement to engage in any investment activity

Briefed Media Limited is not authorised or regulated by the Financial Conduct Authority (FCA). We do not provide regulated investment services. Research outputs are directed exclusively at investment professionals who have made the certification in the section above. They are not suitable for and must not be distributed to retail clients.

These terms do not modify or limit any rights you may have as a retail consumer under applicable law, but they do confirm your status as a professional user for the purposes of the subscription you are entering into.

Interpreting Research outputs

Anya’s outputs include exposure scores, directional tags (Positive, Negative, Buffered), signal analyses, and narrative briefs. These outputs are produced by a system designed to surface and synthesise information, not to replicate the judgement of a qualified investment professional.

In interpreting any output, you should note:

• Exposure scores and directional tags reflect Anya’s automated assessment of signal data at the time of generation. They are not price targets, ratings, or forward-looking assessments of return
• Narrative briefs are syntheses of available data, not independent analyst research
• The arbiter and confidence-scoring systems built into Anya are designed to surface uncertainty. Low-confidence or contested outputs are flagged; flagged uncertainty should be treated as meaningful
• Anya’s outputs may be incomplete, delayed, or affected by data provider outages. She will degrade gracefully and indicate where data is unavailable rather than generate outputs based on missing inputs, but you remain responsible for verifying coverage
• Anya does not know your portfolio, your position sizing, your cost basis, or your regulatory obligations. Outputs that appear directional must be evaluated against those factors by you

Non-reliance

You must independently verify all information and outputs produced by Briefed Research and Anya before making any investment, financial, commercial, or other decision. Research outputs are one input to your professional process, not a substitute for it.

Briefed accepts no liability for any loss or damage arising from:

• Any investment decision made in reliance, in whole or in part, on Research or Anya outputs
• Any inaccuracy, incompleteness, or delay in Research terminal data or Anya outputs
• Any failure of Anya to surface material information that was within or outside her dataset
• Any use of Research outputs in connection with advice given or decisions made on behalf of any third party, including your clients or investors

Our aggregate liability to you under these Research Terms is limited as set out in the Limitation of Liability section of the general Terms of Service.

Data sources and accuracy

Market data in the Research terminal is sourced from licensed third-party data providers. Briefed makes no warranty as to the accuracy, completeness, currency, or fitness for purpose of that data. Pricing data may be delayed. Index and macro data is sourced from public and licensed providers and is subject to revision by those providers.

Briefed’s proprietary signal data — including composite indices and behavioural signals derived from publicly available trend and economic data — is the product of Briefed’s own analytical methodology. Briefed warrants that its methodology is applied consistently, not that outputs derived from it will be accurate in any particular case.

Data provider outages, API failures, or delays may affect Research terminal availability and Anya output quality. We will communicate known outages via our status page. We do not guarantee continuous availability of Research or Anya.

AI subprocessors

Anya relies on two AI subprocessors to generate research outputs:

• Anthropic processes query context to synthesise Research outputs. Anthropic acts as a data processor on Briefed’s instructions. Your query content and any associated data is not used by Anthropic to train its public models under our agreement.
• Perplexity is used to retrieve and verify source material in response to Research queries. Query context is sent to Perplexity for grounding purposes only.

Both subprocessors operate under data processing agreements with Briefed. Full details of subprocessor arrangements, data transfers, and the safeguards in place are set out in our Privacy Policy.

We do not use your query content, research outputs, or feedback to train our own models or those of any third party.

Permitted use

Your subscription to Briefed Research is a personal, non-transferable licence for your own professional use. You may:

• Use Research terminal data and Anya outputs internally as part of your own research and analysis process
• Share individual outputs or excerpts with colleagues within your organisation for the same professional purpose, provided any shared content is clearly attributed to Briefed Research and is not presented as independent advice
• Reference Anya outputs in internal research documents, clearly attributed and accompanied by your own analysis

You may not:

• Present Research or Anya outputs as personal recommendations or advice to any third party, including your clients or investors
• Republish, redistribute, resell, or sublicense Research outputs to any third party outside your organisation without a separate written agreement with Briefed
• Use Research outputs or Anya’s methodology to develop or train a competing product or service
• Scrape, systematically extract, or bulk-download data from the Research terminal by automated means
• Share your account credentials or permit any other individual to access Research using your subscription

Team tier subscribers may add seats subject to their plan terms. Each seat requires its own professional certification.

Changes

We may update these Research Terms from time to time. Material changes — in particular any change to the professional certification requirement, the non-reliance clause, or the subprocessor arrangements — will be communicated by email to all paid Research subscribers with at least 30 days’ notice. Continued use of Research after the effective date of a change constitutes acceptance of the revised terms. If you do not accept a material change, you may cancel your subscription before the effective date and receive a pro-rata refund for the unused portion of any prepaid period.

Contact

For questions about these Research Terms: legal@briefedmedia.com

Briefed Media Limited (trading as Briefed), Ground Floor, 1 Spinningfields Square, Manchester, M3 3AP, United Kingdom. Registered in England and Wales, company number 17255283.