10.8.1. General requirement

When an Authorised Firm carries out a mandate to manage an Offer of Securities or an Offer of Units, it must implement adequate internal arrangements to manage any conflicts of interest that may arise as a result of the Authorised Firm’s duty to two distinct sets of Clients namely the corporate finance Client and the investment Client.

10.8.2. Disclosure

For the purposes of COB 10.8.1, when an Authorised Firm accepts a mandate to manage an Offer, it must take reasonable steps to disclose to its corporate finance Client:

1. (a) the process the Authorised Firm proposes to adopt in order to determine what recommendations it will make about allocations for the Offer;
2. (b) details of how the target investor group, to whom it is planned to Offer the Securities or Units in a Listed Fund, will be identified;
3. (c) the process through which recommendations are prepared and by whom; and
4. (d) (if relevant) that it may recommend placing Securities or Units in a Listed Fund with a Client of the Authorised Firm for whom the Authorised Firm provides other services, with the Authorised Firm’s own proprietary book, or with an Associate, and that this represents a potential conflict of interest.