On 4 November 2021, the Investment Association published version 3.0 of its model discretional investment management agreement, in co-operation with Norton Rose Fulbright. The model agreement is a template agreement relating to the appointment of a discretionary investment manager by a client that has been categorised by the manager as a professional client. The model agreement states that it is being “issued to the general public for information purposes only and may be used by you as a template to be adapted and used to reflect your specific circumstances and needs”. Among other things, the model agreement has been amended to reflect the UK’s departure from the EU.