• COBS 13.1 COBS 13.1 Content of Periodic Statements: Investment Management

    • COBS 13.1.1 General Information

      Pursuant to Rule 6.11, a periodic statement, as at the end of the period covered, must contain the following general information:

      (a) the number, description and value of each Investment;
      (b) the amount of cash held;
      (c) the total value of the portfolio; and
      (d) a statement of the basis on which the value of each Investment has been calculated.

    • COBS 13.1.2 Additional Information: Discretionary Investment Management Activities

      In addition to Rule 13.1.1, where an Authorised Person acts as an Investment Manager on a discretionary basis, the periodic statement must also include the following additional information:

      (a) a statement of which Investments, if any, were at the closing date loaned to any third party and which Investments, if any, were at that date charged to secure borrowings made on behalf of the portfolio;
      (b) the aggregate of any interest payments made and income received during the account period in respect of loans or borrowings made during that period;
      (c) details of each Transaction which has been entered into for the portfolio during the period;
      (d) the aggregate of Money and details of all Investments transferred into and out of the portfolio during the period;
      (e) the aggregate of any interest payments, including the dates of their application and dividends or other benefits received by the Authorised Person for the portfolio during that period;
      (f) a statement of the aggregate Charges of the Authorised Person and its Associates; and
      (g) a statement of the amount of any Remuneration received by the Authorised Person or its Associates or both from a third party.

    • COBS 13.1.3 Additional Information: Contingent Liability Investments

      In the case where Contingent Liability Investments are involved, an Authorised Person must include the following additional information:

      (a) the aggregate of Money transferred into and out of the portfolio during the valuation period;
      (b) in relation to each open position in the account at the end of the account period, the unrealised profit or loss to the Client (before deducting or adding any Commission which would be payable on closing out);
      (c) in relation to each Transaction Executed during the account period to close out a Client's position, the resulting profit or loss to the Client after deducting or adding any Commission;
      (d) the aggregate of each of the following in, or relating to, the Client's portfolio at the close of business on the valuation date:
      (i) cash;
      (ii) Collateral value;
      (iii) management fees; and
      (iv) commissions;
      (e) Option account valuations in respect of each open Option contained in the account on the valuation date stating:
      (i) the Share, Future, index or other Investment involved;
      (ii) the trade price and date for the opening Transaction, unless the valuation statement follows the statement for the period in which the Option was opened;
      (iii) the market price of the contract; and
      (iv) the exercise price of the contract.