Minimum investment requirement revised with new applicability and segregation rules for unlisted securities and adjusted director disclosure. The amendment raises the minimum investment requirement per client and limits its application to new clients and fresh investments by existing clients while allowing existing investments to continue until maturity. It adds unlisted securities to permitted holdings and mandates segregation of each client's unlisted securities holdings into separate accounts for new and fresh investments, with existing unlisted investments grandfathered until maturity. The model disclosure is altered to require the name and signature of at least two directors of the portfolio manager.
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.
Minimum investment requirement revised with new applicability and segregation rules for unlisted securities and adjusted director disclosure.
The amendment raises the minimum investment requirement per client and limits its application to new clients and fresh investments by existing clients while allowing existing investments to continue until maturity. It adds unlisted securities to permitted holdings and mandates segregation of each client's unlisted securities holdings into separate accounts for new and fresh investments, with existing unlisted investments grandfathered until maturity. The model disclosure is altered to require the name and signature of at least two directors of the portfolio manager.
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 
