Relationship with the Custodian. 13.1 All Cash, Investments and/or other assets comprising your Investment Management Account will be held for you by the Custodian or its agents. We shall have authority to issue to the Custodian such instructions as we consider appropriate in connection with the settlement of any transaction relating to the Investment Management Account. For the avoidance of doubt, where the custodian is JPMorgan Chase Bank, N.A., acting through its Hong Kong or Singapore branch, then JPMorgan Chase Bank, N.A., will be acting in the dual capacities as both provider of discretionary investment management services to you, and as custodian of your Portfolio, and where appropriate these Private Client Terms should be construed accordingly.
13.2 You confirm that:
13.2.1 whether or not we direct the Custodian to exercise any voting or other rights and entitlements attached to Investments comprised in the Investment Management Account, and how we direct that they are to be exercised, will be at our total discretion unless otherwise agreed with you in writing;
13.2.2 we may at our discretion, but without obligation or duty, join in class actions or make claims in bankruptcy, insolvency, administration, schemes, compromises or arrangements, or judicial management proceedings on your behalf in relation to any Investment or rights under an Investment provided that any anticipated or operational legal costs will be agreed with you beforehand and you will pay us on demand any costs and expenses in relation thereto;
13.2.3 unless you give written instructions to the contrary, all dividends, interest and other income (in Cash or in kind) received in respect of the portfolio will be retained by the Custodian for reinvestment as part of the Investment Management Account; and
13.2.4 you shall have full responsibility for the payment of all taxes due on capital or income credited to or collected for the Cash Account maintained with the Custodian.
13.3 We shall perform periodic reconciliations between your regular Cash Account and Custody Account statements provided by the Custodian and our records in relation to the Investment Management Account.
Relationship with the Custodian a) We shall arrange for Securities in the Portfolio to be held in custody with the Custodian for your benefit and on your behalf as set out in these Terms and Conditions or otherwise on such terms and conditions as we may agree. A full copy of these Terms and Conditions is available to you on request from us. The Custodian is allowed to appoint sub-custodians, nominees and other agents including Affiliates and also to utilise Securities Systems.
b) The Custodian will be responsible for the safekeeping of Securities, the settlement of transactions attending to the collection of income, the presentation for redemption or payment of any Securities which are redeemed or called, and the effecting of other administrative actions in relation to the Portfolio. We shall require the Custodian to use reasonable skill and care in carrying out these services.
c) Securities will at all times be held beneficially for you.
d) We shall have an unrestricted mandate and power of attorney to sign or execute and return to the Custodian on your behalf any documents submitted to us, or by or on behalf of the Custodian in connection with the Agreement.
e) Any Custodian appointed by us as agent you to receive annual reports and accounts and any other information issued by unit trusts and companies to unit/shareholders to enable you to attend and vote at unit/ shareholders meetings. This facility is subject to a charge set out in Schedule 5 (Fees and Charges).
Relationship with the Custodian. When you hold certain Supported Virtual Assets on the Custodian, you may be given the option to “stake” (the act of committing funds to the network validator(s)) these assets in a proof of stake (“POS”) network via staking Services provided by third-parties, the validators (“Validators”). The Custodian allows you to access staking Services via its Website (the “Platform”). When staked, your relationship on the staked Virtual Assets is directly with the Validators.
