Download Form AUT

APPLICATION FORMS AND NOTICES (AFN) – AUT – AMS
For DFSA use only
Form AUT – AMS
Applying for Authorisation
Asset Management supplement
This supplement must be submitted by applicants applying to conduct any of the following
Financial Services:

Managing assets

Arranging credit or deals in investments

Advising on financial products or credit

Dealing in investments as agent

Arranging custody

Providing custody
The Notes for Applicants contains information that may assist you in completing this
supplement. Please refer to the section entitled “Asset Management” in the notes. Each note is
linked to a specific question in this supplement via a referenced number. Please note the
submission of this supplement is in addition to the submission of the Core Information form.
Where you feel a question in the supplement may have already been answered in the Core
Information form you may provide cross reference to the relevant section.
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AUT – AMS/VER1/03-09
APPLICATION FORMS AND NOTICES (AFN) – AUT – AMS
SECTION 1: CORPORATE GOVERNANCE, STRATEGY AND BUSINESS
MODEL
AM1.
Please describe the type of Clients whose assets will be under management and the
account structure to be used. This should include details of the underlying asset
classes which the portfolio(s) is likely to invest in.
AM2.
Please provide details of the expected amount of funds under management, number
of Clients / portfolio(s) and investors. This information should be provided for the
assumed time of authorisation and up to the end of year one.
AM3.
Please describe the governance arrangements of any portfolio(s) you will manage.
SECTION 2: FINANCIAL AND OPERATIONAL RISKS
AM4.
Please disclose the source(s) of your Client(s)’ funding for any portfolio(s) you will
manage.
SECTION 3: CONDUCT OF BUSINESS RISKS TO CLIENTS AND MARKETS
AM5.
Please describe the extent to which you will be liable for the timely execution of
Transactions and your arrangements for ensuring best execution.
AM6.
Please provide details regarding the procedures you will have in place for the record
keeping of Transaction and Client orders.
AM7.
When marketing Foreign Funds, please advise how you will ensure that the Funds
meet DFSA requirements.
AM8.
Where applicable, please describe the arrangements and procedures for holding and
safeguarding Client Assets and Client Money.
AM9.
Will you or any related parties co-invest with your Clients? If yes, please describe
how any conflicts or potential conflicts of interest will be managed.
AM10. Please describe your formal valuation arrangements of the portfolio(s) you will
manage and how these are disclosed to Clients.
AM11. Please describe how you will ensure and evidence that Client assessment and
considerations of suitability are carried out.
AM12. Please provide in conjunction with any risk management policy and procedures a
description of the risk management and investment strategy, explaining how it
addresses inherent risks in the asset classes the portfolio(s) will invest in.
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APPLICATION FORMS AND NOTICES (AFN) – AUT – AMS
AM13. Please describe the arrangements for reconciling the proper exercise of discretionary
management decisions and Client Transactions against the parameters set out in the
investment mandate.
AM14. Please describe how Clients will be kept up-to-date on the performance of their
portfolio(s).
AM15. Please describe how senior management and the board will ensure that personnel in
Client facing roles and responsible for the exercise of discretionary management
decisions in relation to the management of portfolios are competent at performing
their role and continue to maintain their knowledge and skills relevant to their role.
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AUT – AMS/VER1/03-09