Document ID: chunk:federal_register_of_legislation:F2023C00928:reg:8:p6
Version: federal_register_of_legislation:F2023C00928
Segment Type: reg
Provision Reference: reg 8 (pt 6/34)
Character Range: 26541–29293

be authorised to, and those that the licensee is required to, exercise under the MDA contract and the investment strategy that is to be applied in exercising those discretions; and
(ii) information about any significant risks associated with the MDA contract; and
(iii) the basis on which the licensee considers that MDA contract to be suitable for the client; and
(iv) the warnings that paragraph 912AEB(5)(c) requires;
(d) a statement of who will be responsible for reviewing the investment program;
(e) if the investment program that will be included in the MDA contract is to be prepared by an external MDA adviser:
(i) a statement of the name and contact details of the external MDA adviser; and
(ii) the statements and information in subparagraphs (c)(i) and (ii), to the extent that those statements or information are not included in the investment program; and
(iii) a statement to the effect that the investment program will contain:
(A) the basis on which the external MDA adviser considered the MDA contract to be suitable for the client; and
(B) the warnings that paragraph 912AEB(5)(c) requires;
(f) information about any significant risks associated with investing through the MDA service;
(g) a statement whether and, if so, information as to how, the client may give instruction to the licensee on how rights relating to financial products in the client portfolio assets are to be exercised;
(h) if an external MDA custodian or a person acting on behalf of an external MDA custodian holds the legal title to any of the client portfolio assets:
(i) a statement to the effect that the licensee does not provide custodial or depository services relating to the MDA services for those client portfolio assets; and
(ii) a statement of the name and contact details of the external MDA custodian who is responsible for the custodial or depository services in relation to those client portfolio assets; and
(iii) statements of the services for which the external MDA custodian is responsible and those for which the licensee is responsible;
(i) if the client will hold the client portfolio assets, a statement to the effect that the MDA service does not include custodial or depository services;
(j) if the client portfolio assets may include non-limited recourse products, the following information:
(i) the types of non-limited recourse products that may be included in the client portfolio assets;
(ii) information about the key features of those types of products (including any significant risks associated with investing in those types of products) that may be material to the decision of a person as a retail client whether to acquire those types of products;
(iii) information about the degree of leverage that may apply in relation to