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Investment business - Coggle Diagram
Investment business
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Knowledge of client
Where person is responsible for providing advice or exercising discretion, they must obtain, document and maintain any information about the circumstances
Where client declines to provide information on circumstances/investment objectives the person must not provide advice/discretion without advising lack of info can affect may adversely affect the service
Switching & Churning
Registered person must not advice client nor exercise discretion to effect a switch of long-term insurance products or a switch within or between collective investment schemes unless it is in the clients interest to do so - Written evidence to be obtained
Must not advise a client nor in the exercise discretion, enter into transactions with unnecessary frequency having regard to the client’s agreed investment objectives
Best execution
person executes an order through the London Stock Exchange’s Stock Exchange Trading System (SETS) the ‘best execution’ requirement will be deemed to have been satisfied
person has access to a variety of price sources, it should compare those sources and give the client the best pric
Front Running
Where a registered person intends to publish to clients a recommendation, or a piece of research or analysis, in relation to a particular investment, it must not:
Deal in the investment, or any related investment, on its own account; or
Deal in the investment, or any related investment on behalf of an associate;
Deal ahead of the clients for whom the recommendation, research or analysis was intended if those clients ought to have priority.
Aggregation
person may only aggregate an order of a client with the order of another client or of the registered person, where it is in the overall best interests of all the clients
Timely execution
In agreement with a client or decided in its discretion to effect or arrange a client order, it must affect or arrange the execution of the order as soon as reasonably practicable
Law that regulates investment businesses is Financial Services (Jersey) Law 1998