Portfolio management agreement terms specify fiduciary duties and client rights under regulatory framework, including reporting access and fee provisions. Agreements must set out appointment, scope of services and the fiduciary role of the portfolio manager; specify discretionary and non discretionary functions, recordkeeping, audit and periodic reporting; restrict lending of client securities; and define investment objectives, permitted securities, taxation, withdrawal and settlement rules. They must include detailed risk disclosure, term, alteration and termination procedures, account maintenance, client access to records, fee and billing structures with prior consent for outsourced costs, liability allocation, succession arrangements, assignment, governing law and dispute resolution.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Portfolio management agreement terms specify fiduciary duties and client rights under regulatory framework, including reporting access and fee provisions.
Agreements must set out appointment, scope of services and the fiduciary role of the portfolio manager; specify discretionary and non discretionary functions, recordkeeping, audit and periodic reporting; restrict lending of client securities; and define investment objectives, permitted securities, taxation, withdrawal and settlement rules. They must include detailed risk disclosure, term, alteration and termination procedures, account maintenance, client access to records, fee and billing structures with prior consent for outsourced costs, liability allocation, succession arrangements, assignment, governing law and dispute resolution.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
