Template:COBS Section 11.6.3: Difference between revisions
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{{cobsprov|11.6.3}} {{cobsprov|Use of dealing commission to purchase goods or services}} | |||
:(1) An {{cobsprov|investment manager}} must not accept goods or services in addition to the execution of its customer orders if it: <br> | :(1) An {{cobsprov|investment manager}} must not accept goods or services in addition to the execution of its customer orders if it: <br> | ||
::(a) executes its customer orders through a [[broker]] or another person; <br> | ::(a) executes its customer orders through a [[broker]] or another person; <br> | ||
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:::(i) are related to the execution of trades on behalf of the {{cobsprov|investment manager}}’s customers; or <br> | :::(i) are related to the execution of trades on behalf of the {{cobsprov|investment manager}}’s customers; or <br> | ||
:::(ii) comprise the provision of research; and <br> | :::(ii) comprise the provision of research; and <br> | ||
::(b) will reasonably assist the {{cobsprov|investment manager}} in the provision of its services to its customers on whose behalf the orders are being executed and do not, and are not likely to, impair compliance with the duty of the {{cobsprov|investment manager}} to act in the best interests of its customers. <br> | ::(b) will reasonably assist the {{cobsprov|investment manager}} in the provision of its services to its customers on whose behalf the orders are being executed and do not, and are not likely to, impair compliance with the duty of the {{cobsprov|investment manager}} to act in the best interests of its customers. <br> | ||
Revision as of 12:40, 20 November 2016
11.6.3 Use of dealing commission to purchase goods or services
- (1) An investment manager must not accept goods or services in addition to the execution of its customer orders if it:
- (2) This prohibition does not apply if the investment manager has reasonable grounds to be satisfied that the goods or services received in return for the charges:
- (a)
- (i) are related to the execution of trades on behalf of the investment manager’s customers; or
- (ii) comprise the provision of research; and
- (i) are related to the execution of trades on behalf of the investment manager’s customers; or
- (b) will reasonably assist the investment manager in the provision of its services to its customers on whose behalf the orders are being executed and do not, and are not likely to, impair compliance with the duty of the investment manager to act in the best interests of its customers.
- (a)