Custodian appointment requirement mandates custodians for portfolio managers with exemptions for small managers and advisors. Amendments redefine principal officer as a designated employee and require that the principal officer hold a recognised professional qualification or specified securities-market experience. A new rule requires every portfolio manager to appoint a custodian for securities managed, with exemptions for managers beneath a prescribed assets-under-management threshold and for those who provide only advisory services.
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.
Custodian appointment requirement mandates custodians for portfolio managers with exemptions for small managers and advisors.
Amendments redefine principal officer as a designated employee and require that the principal officer hold a recognised professional qualification or specified securities-market experience. A new rule requires every portfolio manager to appoint a custodian for securities managed, with exemptions for managers beneath a prescribed assets-under-management threshold and for those who provide only advisory services.
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 
