AIMR Seeks Comment on Proposed Guidelines for Investment Management Firms

Washington, DC, November 19, 2001 - The Association for Investment Management and Research (AIMR) has published for comment "Trade Management Guidelines." The guidelines are a compilation of best practices that AIMR encourages investment management firms to adopt. In recognition of differences among firms, AIMR recommends that each firm tailor the procedures in a manner that fits its specific needs and circumstances. The guidelines are divided into three areas:

  • processes,
  • disclosures, and
  • recordkeeping.

In connection with the proposed guidelines, AIMR has published an "Invitation to Comment," which lists specific questions that AIMR suggests commenters focus on when preparing their comments. Among other things, the invitation to comment asks:

  • if establishing a trade management process will help firms analyze best execution;
  • whether the guidelines' definition of best execution is accurate, and, if not, to suggest a better alternative;
  • if it is appropriate to have a trade management oversight committee (TMOC) assess a firm's capability to deliver best execution;
  • if the guidelines have focused on appropriate broker characteristics to consider in developing approved broker lists;
  • whether there are any disclosures that firms should make that should be added to the guidelines; and
  • whether there are any recordkeeping recommendations that should be added or deleted.

Comments on the guidelines are due to AIMR no later than February 12, 2002.

  

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