ES-1.4.1

The 10 Principles of Business covered in Module PB are a general statement of the fundamental obligations of all CBB investment firm licensees and approved persons. They have the status of Rules; and provide a basis for other, more detailed Rules elsewhere in Volume 4.

ES-1.4.2

Principles 1 to 10 apply to activities carried out by licensees, including activities carried out through overseas branches. Principles 1 to 8 also apply to approved persons, in respect of the controlled functions for which they have been approved. Principles 9 and 10 also take into account any activities of other members of the group of which the licensee is a member.

ES-1.4.3

The Principles of Business are:

Principle 1 — Integrity
Principle 2 — Conflicts of Interest
Principle 3 — Due Skill, Care and Diligence
Principle 4 — Confidentiality
Principle 5 — Market Conduct
Principle 6 — Customer Assets
Principle 7 — Customer Interests
Principle 8 — Relations with Regulators/Supervisors
Principle 9 — Adequate Resources
Principle 10 — Management, Systems and Controls