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Recent falls in financial markets have led to some client portfolios losing value

Recent falls in financial markets have led to some client portfolios losing value. Some portfolios have fallen by over 10% which triggers the MiFID II requirement to notify investors of the losses sustained.

For example, a firm which provides a discretionary management service (DFM) is required to inform a client where the overall value of their portfolio, as evaluated at the beginning of each reporting period, depreciates by 10%, and further multiples of 10%. This must be done no later than the end of the business day in which the threshold is exceeded or, in a case where the threshold is exceeded on a non-business day, the close of the next business day.

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