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CL-1.1.2

An investment firm licensee may manage client's assets on a discretionary basis if:

(a) That client has given his express consent in writing;
(b) The use of the client assets is restricted to the terms agreed by him; and
(c) The document in which that client's consent is requested by the investment firm licensee gives clear information to him on:
(i) The obligations and responsibilities of the investment firm licensee and/or of the clients for whose account the investment firm licensee has been allowed to use the client's financial instruments, with respect to the use of the financial instruments (including the terms for the restitution of the financial instruments); and
(ii) The risks involved.
Amended: April 2013
Amended: January 2007