28 Structure of arrangements - Reliance on others Reporting to investors Adviser With a discretionary management arrangement, investors need to be provided with certain reports including quarterly valuations. As good practice, advisers should ensure that their contractual arrangements with DIMs set out clearly the DIM’s responsibility for ensuring this information is provided to investors. It is important that both responsibilities for reporting, and timeframes within which the reporting will be carried out, are clear. Investors need to receive accurate and timely information about their investments. Discretionary Investment Manager DIMs need to ensure that it is clear who is providing the requisite information to investors and whether they will do this direct to the investor or through the adviser. It is the DIM’s responsibility to provide this information to investors but good practice should allow the DIM and adviser firm to work together to establish the best way of reporting relevant information to the client. Chapter three - Structure of arrangements - Reliance on others
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