Entire Section

  • COB App 4 COB App 4 Periodic Statements

    • COB A4.1 COB A4.1 Content of Periodic Statements: Investment Management

      • General Information

        • COB A4.1.1

          Pursuant to COB section 6.10, a periodic statement, as at the end of the period covered, must contain the following general information:

          (a) the number, description and value of each Investment;
          (b) the amount of cash held;
          (c) the total value of the portfolio; and
          (d) a statement of the basis on which the value of each Investment has been calculated.
          Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

      • Additional Information: Discretionary Investment Management Activities

        • COB A4.1.2

          In addition to COB Rule A4.1.1, where an Authorised Firm acts as an Investment Manager on a discretionary basis, the periodic statement must also include the following additional information:

          (a) a statement of which Investments, if any, were at the closing date loaned to any third party and which Investments, 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) details of each Transaction which have been entered into for the portfolio during the period;
          (d) the aggregate of Money and details of all Investments transferred into and out of the portfolio during the period;
          (e) the aggregate of any interest payments, including the dates of their application and dividends or other benefits received by the Authorised Firm for the portfolio during that period;
          (f) a statement of the aggregate Charges of the Authorised Firm and its Associates; and
          (g) a statement of the amount of any Remuneration received by the Authorised Firm or its Associates or both from a third party.
          Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

      • Additional Information: Contingent Liability Investments

        • COB A4.1.3

          In addition to Rules COB A4.1.1 and COB A4.1.1.2, in the case where Contingent Liability Investments are involved, an Authorised Firm must include the following additional information:

          (a) the aggregate of Money transferred into and out of the portfolio during the valuation period;
          (b) in relation to each open position in the account at the end of the account period, the unrealised profit or loss to the Client (before deducting or adding any Commission which would be payable on closing out);
          (c) in relation to each Transaction Executed during the account period to close out a Client's position, the resulting profit or loss to the Client after deducting or adding any Commission;
          (d) the aggregate of each of the following in, or relating to, the Client's portfolio at the close of business on the valuation date:
          (i) cash;
          (ii) Collateral value;
          (iii) management fees; and
          (iv) commissions; and
          (e) Option account valuations in respect of each open Option contained in the account on the valuation date stating:
          (i) the Share, Future, index or other Investment involved;
          (ii) the trade price and date for the opening Transaction, unless the valuation statement follows the statement for the period in which the Option was opened;
          (iii) the market price of the contract; and
          (iv) the exercise price of the contract.
          Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]