Common use of Recording of telephone conversations Clause in Contracts

Recording of telephone conversations. (1) The Adviser is hereby informed that all telephone conversations and electronic communications with the Global Client Group, the portfolio management and the trading desk of the Sub-Adviser are recorded in order to meet legal requirements. The Sub-Adviser is required to record telephone calls and electronic communications with its clients relating to the provision of investment services that relate to the reception, transmission and execution of client orders. The Sub- Adviser is also under a record-keeping obligation even if those conversations or communications do not result in the conclusion of such transactions or in the provision of client order services. The purpose of recording is to ensure that the conditions of an order issued by the Adviser and its conformity with the transaction executed by the Sub-Adviser can be demonstrated. The obligation to keep records is designed to strengthen investor protection, improve market surveillance and create legal certainty in the interests of the Adviser and the Sub-Adviser. The records shall be kept for five years or, if required by order of the competent supervisory authority, for seven years. The Adviser may request a copy of the records within the applicable period of time. The Adviser undertakes to inform its employees (or advisors) involved in the work process of the records. The Adviser shall further inform the aforementioned employees (or advisors) that they may not disclose the telephone numbers of the sales (Global Client Group) employees, nor those of the Sub-Adviser’s portfolio management and trading desk, to unauthorised third parties.

Recording of telephone conversations. (1) The Adviser is hereby informed that all telephone conversations and electronic communications with the Global Client Group, the portfolio management and the trading desk of the Sub-Adviser are recorded in order to meet legal requirements. The Sub-Adviser is required to record telephone calls and electronic communications with its clients relating to the provision of investment services that relate to the reception, transmission and execution of client orders. The Sub- Sub-Adviser is also under a record-keeping obligation even if those conversations or communications do not result in the conclusion of such transactions or in the provision of client order services. The purpose of recording is to ensure that the conditions of an order issued by the Adviser and its conformity with the transaction executed by the Sub-Adviser can be demonstrated. The obligation to keep records is designed to strengthen investor protection, improve market surveillance and create legal certainty in the interests of the Adviser and the Sub-Adviser. The records shall be kept for five years or, if required by order of the competent supervisory authority, for seven years. The Adviser may request a copy of the records within the applicable period of time. The Adviser undertakes to inform its employees (or advisors) involved in the work process of the records. The Adviser shall further inform the aforementioned employees (or advisors) that they may not disclose the telephone numbers of the sales (Global Client Group) employees, nor those of the Sub-Adviser’s portfolio management and trading desk, to unauthorised third parties.