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  • PB-1 PB-1 The Principles

    • PB-1.1 PB-1.1 Principle 1 — Integrity

      • PB-1.1.1

        Investment firm licensees and approved persons must observe high standards of integrity and fair dealing. They must be honest and straightforward in their dealings with clients, and disclose fully all relevant information to clients, as required by the CBB's Regulations and Directives.

        Amended: January 2007

    • PB-1.2 PB-1.2 Principle 2 — Conflicts of Interest

      • PB-1.2.1

        Investment firm licensees and approved persons must take all reasonable steps to identify, and prevent or manage, conflicts of interest that could harm the interests of a client.

    • PB-1.3 PB-1.3 Principle 3 — Due Skill, Care and Diligence

      • PB-1.3.1

        Investment firm licensees and approved persons must act with due skill, care and diligence.

    • PB-1.4 PB-1.4 Principle 4 — Confidentiality

      • PB-1.4.1

        Investment firm licensees and approved persons must observe in full any obligations of confidentiality, including with respect to client information. This requirement does not over-ride lawful disclosures.

    • PB-1.5 PB-1.5 Principle 5 — Market Conduct

      • PB-1.5.1

        Investment firm licensees and approved persons must observe proper standards of market conduct, and avoid action that would generally be viewed as improper.

    • PB-1.6 PB-1.6 Principle 6 — Customer Assets

      • PB-1.6.1

        Investment firm licensees and approved persons must take reasonable care to safeguard the assets of customers for which they are responsible.

        Amended: January 2007

    • PB-1.7 PB-1.7 Principle 7 — Customer Interests

      • PB-1.7.1

        Investment firm licensees and approved persons must pay due regard to the legitimate interests and information needs of their clients and communicate with them in a fair and transparent manner. Investment firm licensees and approved persons, when dealing with clients who are entitled to rely on their advice or discretionary decisions, must take reasonable care to ensure the suitability of such advice or decisions.

    • PB-1.8 PB-1.8 Principle 8 — Relations with Regulators/Supervisors

      • PB-1.8.1

        Investment firm licensees and approved persons must act in an open and co-operative manner with the CBB and other regulatory/supervisory bodies under whose authority they come under. They must take reasonable care to ensure that their activities comply with all applicable laws and regulations.

        Amended: January 2007

    • PB-1.9 PB-1.9 Principle 9 — Adequate Resources

      • PB-1.9.1

        Investment firm licensees must maintain adequate human, financial and other resources sufficient to run their business in an orderly manner.

    • PB-1.10 PB-1.10 Principle 10 — Management, Systems & Controls

      • PB-1.10.1

        Investment firm licensees must take reasonable care to ensure that their affairs are managed effectively and responsibly, with appropriate systems and controls in relation to the size and complexity of their operations. Investment firm licensees' systems and controls, as far as is reasonably practical, must be sufficient to manage the level of risk inherent in their business and ensure compliance with the CBB Rulebook.

        Amended: January 2007