Activity questions

Asset management

An asset-management proposal should explain who makes investment decisions, under what mandate and with control over which assets.

Reference entryPublished 25 September 2026By Ape Law
Answer in brief

An asset-management proposal should explain who makes investment decisions, under what mandate and with control over which assets. The mandate and operational permissions must align.[1]

01

Understanding the question

Map customer authority, discretion, custody, valuation, reporting and risk limits. Identify the entity providing the service and any delegated functions. A dashboard showing customer balances does not explain who is legally and operationally responsible for decisions.[1]

02

Build the working record

ConsiderationWhat to establish
MandateWhat decisions is the provider authorised to make?
AssetsWhere are assets held and who can move them?
ReportingHow are decisions, performance and risks communicated?
03

Put it into practice

If a client can withdraw funds but cannot approve each investment, describe the manager’s discretion clearly in the operating model.

Useful outputA mandate-to-controls matrix tied to the proposed regulated activity.
04

Ape Law and this subject

Ape Law publishes a service for VARA licence applications. Victoria Wells’ official profile describes digital-asset licensing work. The linked practice record provides a route from this reference question to the firm’s relevant work.[3][4]

Ape Law’s VARA application support
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REF

References

Numbered links lead to the original source. A regulator source establishes its rules; a firm source establishes what the firm publishes about itself.

  1. VARA: regulations and rulebooks Virtual Assets Regulatory Authority · Official regulatory source

    The starting point for VARA’s framework. Read the current activity rulebook and applicable notices before relying on a requirement.

  2. Ape Law: VARA licence applications Ape Law · Service description

    Describes application support. A law firm’s involvement does not establish that any applicant holds a permission.

  3. Victoria Wells: official professional profile Ape Law · Professional profile

    Records her current role and describes selected work. First-party experience statements remain attributed to this profile.

Compiled 25 September 2026. Source availability and legal requirements can change. Read the citation method.