BC-8.13.9
The minimum information that should be included in a periodic statement, where the relationship includes portfolio management, includes:
(a) A statement of which financial instruments , if any, were at the closing date loaned to any third party and which financial instruments , if any, were at that date charged to secure borrowings made on behalf of the portfolio;
(b) The aggregate of any interest payments made and income received during the account period in respect of loans or borrowings made during that period;
(c) A management report on the strategy implemented (provided at least yearly);
(d) Total amount of fees and charges incurred during the period and an indication of their nature;
(e) Information on any remuneration received from a third party and details of calculation basis;
(f) Total amount of dividends, interest and other payments received during the period in relation to the customers ’ portfolio;
(g) Details of each transaction which have been entered into for the portfolio during the period;
(h) The aggregate of money and details of all financial instruments transferred into and out of the portfolio during the period;
(i) The aggregate of any interest payments, including the dates of their application and dividends or other benefits received by the conventional bank licensee from the portfolio for its own account during that period;
(j) A statement of the aggregate charges of the conventional bank licensee and its associates; and
(k) A statement of the amount of any remuneration received by the conventional bank licensee or its associates or both from a third party.
Added: April 2008