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The Law of Financial Advice, Investment Management, and Trading by van Setten, Lodewijk (14th February 2019)

7 Investment and Wealth Management

From: The Law of Financial Advice, Investment Management, and Trading

Lodewijk van Setten

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 16 November 2019

Subject(s):
Regulation of banks — Capital markets — Investment business

This chapter considers the operative legal and regulatory concepts underlying wealth and investment management. It begins with an overview of the legal characteristics of the investment management relationship, the function of the investment manager with respect to institutional versus retail investors, and collective (pooled) portfolio management. It then describes the investment manager’s specialisation in investment strategies and investment styles, the terms and conditions of the appointment of the investment manager, and the skill and care that a manager must apply in the exercise of investment discretion. It also examines trading by the investment manager and the investment manager’s best execution duties before concluding with an analysis of the range of wealth management services offered by investment managers, such as banking (deposit and savings accounts, payment services, foreign exchange services), custody services, investment advice, brokerage and order transmission services, dealer services, and portfolio management services.

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