BC-1.1 BC-1.1 General Rules
BC-1.1.1
This Module applies to the
regulated investment services of allinvestment firm licensees .BC-1.1.2
This Module aims to encourage high standards of business conduct, which are broadly applicable to all
investment firm licensees , all types ofregulated investment services , and all types ofclients . The CBB, nevertheless, recognises thatclients' level of sophistication and understanding of risks underlying financial instruments vary. Accordingly, the level of safeguards provided for in the business conduct requirements for retail clients, for instance, are different from those for professional clients.Amended: January 2007BC-1.1.3
Investment firm licensees must comply with theInvestment Business Code of Practice ('the Code') throughout the lifetime of their relationship with aclient .BC-1.1.4
Investment firm licensees must take responsibility for compliance with theCode when carrying outregulated investment services .Investment firm licensees must put in place appropriate measures across all their business operations and distribution channels to ensure compliance with theCode .Amended: October 2013BC-1.1.5
The Investment Business Code of Practice comprises a number of overarching principles of business conduct, with respect to the conduct of
regulated investment services byinvestment firm licensees ; these cover the various stages of the life of aclient relationship.Amended: January 2007BC-1.1.6
Investment firm licensees must maintain adequate records to demonstrate compliance with theCode .BC-1.1.7
The
Code focuses on desired outcomes, rather than prescribing detailed measures to achieve those outcomes.BC-1.1.8
The CBB will monitor compliance with the
Code and business conduct standards. If required, the CBB may develop more detailed rules and guidance to supplement the existingCode .Amended: January 2007
