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  • PB-1 PB-1 The Principles

    • Principle 1 – Integrity

      • PB-1.1.1

        Specialised licensees and approved persons must observe high standards of integrity and fair dealing. They must be honest and straightforward in their dealings with customers, and provide full disclosure of all relevant information to customers, as required by the CBB's Regulations and Directives.

        October 2010

    • Principle 2 – Conflicts of Interest

      • PB-1.1.2

        Specialised 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 customer.

        October 2010

    • Principle 3 – Due Skill, Care and Diligence

      • PB-1.1.3

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

        October 2010

    • Principle 4 – Confidentiality

      • PB-1.1.4

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

        October 2010

    • Principle 5 – Market Conduct

      • PB-1.1.5

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

        October 2010

    • Principle 6 – Customer Assets

      • PB-1.1.6

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

        October 2010

    • Principle 7 – Customer Interests

      • PB-1.1.7

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

        October 2010

    • Principle 8 – Relations with Regulators/Supervisors

      • PB-1.1.8

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

        October 2010

    • Principle 9 – Adequate Resources

      • PB-1.1.9

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

        October 2010

    • Principle 10 – Management, Systems & Controls

      • PB-1.1.10

        Specialised 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. Specialised 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.

        October 2010