(1) An investment firm shall have a client asset management plan in order to safeguard client assets.
(2) The client asset management plan shall be reviewed and updated -
(a) if there is any change to the investment firm's business model which affects the manner by which client assets are held, and
(b) in any event, at least on an annual basis, to ensure that the information contained therein is accurate.
(3) The board of an investment firm shall approve the client asset management plan -
(a) when material changes are made,
(b) when it is reviewed and updated in accordance with Regulation 64(2), and
(c) in any event, at least on an annual basis.
(4) The client asset management plan shall, at least, record, the following:
(a) details of an investment firm's business model, operational structures and governance arrangements;
(b) the range and type of client assets held by an investment firm;
(c) the range of investment services carried out by an investment firm;
(d) the risks to the