Status: You are viewing the version of the handbook as on 2021-08-06.

investment manager

    (1) (except in LR) 64a person who, acting only on behalf of a client:

      1. (a) manages designated investments in an account or portfolio on a discretionary basis under the terms of a discretionary management agreement; or
      1. (b) manages designated investments in an account or portfolio on a non-discretionary basis under the terms of a non-discretionary management agreement.

    (2) (in LR) a person who, on behalf of a client, manages investments and is not a wholly-owned subsidiary of the client.64