Licensing Exemptions Applicable to PQA TRUST Limited
1. Activities Related to Asset Management
When acting as trustee of a discretionary trust, pension structure, or similar arrangement, PQA TRUST Limited may engage a licensed or regulated investment manager to conduct portfolio management activities on behalf of the trust.
In these situations—where PQA TRUST Limited does not directly manage investments or provide portfolio advice—the company is not typically required to hold an asset‑management licence.
Our role remains strictly fiduciary and administrative, ensuring appropriate oversight while refraining from regulated investment‑management functions.
2. Activities Related to Dealing in Securities
Under the Trustee Ordinance, PQA TRUST Limited may undertake certain administrative tasks associated with securities transactions without holding a Type 1 (dealing in securities) licence.
These permitted activities may include:
• Distributing subscription or application documents
• Processing redemption, conversion, or withdrawal requests
• Handling notices, contract notes, and related documentation
• Receiving funds or issuing receipts on behalf of clients
All such actions are performed on an execution‑only basis, without providing investment recommendations or initiating transactions.
3. Activities Related to Investment Advisory Services
As a trust company, PQA TRUST Limited is not required to hold licences for:
• Type 4 – Advising on securities
• Type 5 – Advising on futures contracts
• Type 6 – Advising on corporate finance
• Type 9 – Asset management
This exemption applies when any information or guidance provided by PQA TRUST Limited is solely incidental to the performance of its duties as trustee or administrator.
PQA TRUST Limited does not offer investment advice, discretionary portfolio management, or any activity that would require licensing under the Securities and Futures Ordinance. Our mandate remains administrative, neutral, and compliant with the regulatory framework governing trust companies.