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COBS 12.1.4 Additional Information for Investment Management Activities

Past version: effective from 21/10/2015 - 20/10/2015
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The additional information required under Rule 12.1.1(b) where an Authorised Person acts as an Investment Manager is:

(a) the initial value of the managed portfolio;
(b) the initial composition of the managed portfolio;
(c) the period of account for which periodic statements of the portfolio are to be provided in accordance with Rule 6.11; and
(d) in the case of discretionary investment management activities:
(i) the extent of the discretion to be exercised by the Authorised Person, including any restrictions on the value of any one Investment or the proportion of the portfolio which any one Investment or any particular kind of Investment may constitute; or that there are no such restrictions;
(ii) whether the Authorised Person may commit the Client to supplement the funds in the portfolio, and if it may include borrowing on his behalf:
(A) the circumstances in which the Authorised Person may do so;
(B) whether there are any limits on the extent to which the Authorised Person may do so and, if so, what those limits are;
(C) any circumstances in which such limits may be exceeded; and
(D) any margin lending arrangements and terms of those arrangements;
(iii) that the Authorised Person may enter into Transactions for the Client, either generally or subject to specified limitation; and
(iv) where the Authorised Person may commit the Client to any obligation to underwrite or sub-underwrite any issue or offer for sale of Securities:
(A) whether there are any restrictions on the categories of Securities which may be underwritten and, if so, what these restrictions are; and
(B) whether there are any financial limits on the extent of the underwriting and, if so, what these limits are.