www.musicweek.com BODY TALK MMF
MANAGING TO FIND A STANDARD
The Music Managers’ Forum has drafted a Code Of Practice for artist managers in the UK that stipulates suggested principles agreed with its members – including the below key standards they should work towards
1. Devote sufficient time so as to properly fulfil the requirements of good management in the interest of their clients;
2. Not act in any fashion, which is detrimental to their clients’ interests;
3. Conduct themselves in a manner which is professional and ethical, and which abides by best business practices and methods accepted in their country and comply with any relevant statutory regime and case law that is in place or is created;
4.Conduct all of their affairs with their clients in a transparent manner;
5. Protect and promote the interest of their clients to the highest possible standard;
6. Exercise the rights and powers implied or granted to them by their clients in their written or oral agreements for the clients’ best interest.
7. Ensure that no conflict of interest shall interfere with the discharge of their duties towards their clients.
8. All conflicts of interest must be disclosed immediately and noted in any artist management agreement.
THE MUSIC MANAGER’S ROLE
The MMF has also drawn up a general guide to the artist manager’s role, which it says should cover the following areas: • Representation - acting as the artist’s central link within and outside the music industry. • Strategic thinking – thinking and planning the artist’s career in a systematic and logical way. • Leadership – leading the artist’s development as a business and brand. • Decision-making – looking at all the business options put forward to the artist, prioritising, negotiating and making the best possible decisions that drive the artist forward as a business. • Organisation – coordinating artist activities and making sure they get to the right place at the right time, properly prepared and safe. • Implementation – getting things done efficiently and effectively.
9.The manager’s share of the proceeds coming from their clients’ professional (artistic) activity should be commensurate to the level of investment the manager has provided, in time or financially, not to exceed 25% on a commission basis or 50% on a profit-share arrangement.
10. The manager must ensure that the clients’ money (income and expenditure) is recorded and managed completely separately to the private assets of the manager.
11. The manager makes a commitment (and is duty bound) to absolute transparency in all contractual and financial business dealings that concern collaboration with their client. This includes in particular giving access to all accounting, settlement of accounts with third parties, and contracts.
12. Music managers shall respect the relationships of other managers with their clients.
13.A manager who is approached by an artist, who was previously the client of another manager, shall confirm that the artist has fulfilled his, her, or their legal obligations to the previous manager before entering into a management relationship with the artist.
14.Where a manager acts independently as publisher, agent, record producer or in any other
“The manager is duty bound to absolute transparency in all financial or contractual business dealings that concern collaboration with their client”
capacity as well as a manager for his, her, or their clients, they shall declare such interests so that the client has the ability to determine for themselves if they feel it constitutes a conflict of interest and therefore is detrimental to the client’s career.
15.Where a manager acts independently in any other capacity as well as manager for his, her or their clients where such activity ordinarily involves the charging of fees or commissions, the manager shall not charge multiple fees or commissions, without first gaining the consent of their artist in writing.
16. Managers must ensure that all monetary transactions made on behalf of or in the interest of their client and all books of account and records must always be reasonably open for the inspection of the client or their appointed representative with reasonable notice, during business hours.
17.Where a manager engages an artist under a written agreement, the manager shall ensure that their client seeks and receives expert legal advice on the terms of such agreement before signing it.
18. Managers will endeavour to keep themselves well informed of current events, legislation and case law, both national and international, as it pertains to the proper exploitation of their client’s career and the proper administration of their client’s business/es.
01.02.13 MusicWeek 25
CODE OF PRACTICE FOR MUSIC MANAGERS, AS WELL AS A FRAMEWORK FOR TRAINING AND EDUCATION. FOR MORE INFO, CONTACT:
INFO@THEMMF.NET
OF STANDARDS OFFERS BOTH GUIDING PRINCIPLES AND A
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