COBS 15.7.2

Before an Authorised Person provides Custody for a Client it must disclose to the Client on whose behalf the Safe Custody Investments will be held:

(a) a statement that the Client is subject to the protections conferred by the Safe Custody Provisions;
(b) the arrangements for recording and registering Safe Custody Investments, claiming and receiving dividends and other entitlements and interest and the giving and receiving instructions relating to those Safe Custody Investments;
(c) the obligations the Authorised Person will have to the Client in relation to exercising rights on behalf of the Client;
(d) the basis and any terms governing the way in which Safe Custody Investments will be held, including any rights which the Authorised Person may have to realise Safe Custody Investments held on behalf of the Client in satisfaction of a default by the Client;
(e) the method and frequency upon which the Authorised Person will report to the Client in relation to his Safe Custody Investments;
(f) if applicable, a statement that the Authorised Person intends to mix Safe Custody Investments with those of other Clients;
(g) if applicable, a statement that the Client's Safe Custody Investments may be held in a jurisdiction outside the Abu Dhabi Global Market and the market practices, insolvency and legal regime applicable in that jurisdiction may differ from the regime applicable in the Abu Dhabi Global Market;
(h) if applicable, a statement that the Authorised Person holds or intends to hold Safe Custody Investments in a Client Account with a Third-Party Agent which is in the same Group as the Authorised Person; and
(i) the extent of the Authorised Person's liability in the event of default by a Third-Party Agent.