Regulatory Alerts2003-12-21
Instruction COSOB No. 03-04 of December 21, 2003, on the Model Mandate for the Administration of Registered Securities
The COSOB issued Instruction No. 03-04 on December 21, 2003, to define the standard model for the mandate of administration of registered securities between a securities account-keeper and the holder. This instruction mandates the use of the attached model contract, which authorizes the financial intermediary to perform administrative acts such as collecting income while requiring specific instructions for disposal acts like exercising capital increase rights. The mandate is effective upon signature and can be terminated by either party at any time without notice via registered letter, with the intermediary assuming responsibility for order identity and operational regularity.
Share