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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 28 November 2023 - onwards
    Version 1 of 1    

Regulation 100A Additional capital requirements of management companies providing individual portfolio management services

(1) In this Regulation –

"assets safeguarded and administered" or "ASA" means the value of assets that a management company safeguards and administers for clients, irrespective of whether assets appear on the management company's own balance sheet or are in third-party accounts;

"assets under management" or "AUM" means both the value of assets that a management company manages for its clients under discretionary portfolio management and the value of assets in relation to which such management company provides investment advice of an ongoing nature;

"client" means a natural or legal person, or any other undertaking (including a UCITS), to whom a management company provides individual portfolio management services;

"client money held" or "CMH" means the amount of client money that a management company holds, taking into account the legal arrangements in relation to asset segregation;

"management company" means a management company within the meaning given to that term in Regulation 2(1

Comparing proposed amendment...