Handbook of Investment Administration Book

About the author     xiii
Introduction     xv
Introductory Elements     1
Wealth Management     3
Introduction     4
Wealth management market     5
Types of business     7
Investment services and products     11
Investment firms     19
Investment administration     27
Investment Administration     31
New and Closing Business     33
Introduction     34
New business     35
Client types     38
Know your customer     42
Agreements     46
Account opening     47
Money laundering     49
Validating the assets     52
Transferring assets     55
Raising assets     57
Closing business and transfers     59
Death of a client     67
Trading     77
Introduction     73
Stock market developments     79
Equity trading     81
Bond trading     94
Regulation     100
Settlement     107
Introduction     108
Fundamentals ofsettlement     108
Settlement process     123
UK settlement     129
International settlement     145
Corporate Actions     151
Introduction     152
Corporate actions industry     152
Types of event     154
Private client corporate action processing     160
Corporate events     172
Income events     190
Other Considerations     207
Custody     209
Introduction     210
Protection of client assets     210
Segregation of safe custody assets     211
Use of a custodian     212
Nominee companies     213
Global custodians     215
Selecting a custodian     216
Custody agreements and SLAs     218
Reviewing the suitability of custodians     221
Tax     225
Introduction     226
Income tax     226
Tax treatment of dividends     231
Capital gains tax     238
Residence and domicile     247
Withholding tax     250
EU savings directive     256
Powers of Attorney      259
Introduction     260
Background     260
Parties and terminology     261
Enduring power of attorney     263
Receiverships     269
Mental capacity act 2005     273
Administration     275
Outsourcing     285
Introduction     286
Development of outsourcing     287
Risks associated with outsourcing     289
Regulatory principles     294
Investment Accounts and Products     303
Individual Savings Accounts (ISAS)     305
Introduction     306
Development of ISAs and PEPs     306
Organisation and regulation     308
Individual savings accounts     314
Allowable investments     318
New and closing business     319
Voids and repairs     326
Residence     329
Investor reporting     332
Reform of the ISA regime     336
Collective Investment Schemes     339
Introduction     340
Regulation of UK funds     341
Types of UK funds     344
Fund administration     349
Pricing      350
Dealing and settlement     355
Share register     357
Dividend and interest distributions     358
Investor reporting     360
Trusts     363
Introduction     364
Development of trusts     364
Fundamentals of trusts     367
Investment administration     386
Charities     399
Introduction     400
What is a charity?     400
Legal background to investment by charities     402
Trustee investment powers and duties     406
Investment policy     411
Appointing an investment manager     413
Common investment funds     415
Use of nominees and custodians     416
Self-Invested Personal Pensions     419
Introduction     420
Development of SIPPs     421
What is a SIPP?     423
Setting up a SIPP     425
Eligibility and contributions     426
Permitted investments     426
Benefits     428
Derivative Products     431
Introduction     432
Types of derivatives     433
Uses of derivates      438
Derivatives markets     440
Structured products     444
Covered warrants     451
Exchange traded commodities     457
Contracts for difference     459
Glossary     463
Bibliography     481
Reading Material     483
Index     487