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  • BC-2.1 BC-2.1 Overarching Principles

    • BC-2.1.1

      In the course of regulated money changer services, licensees must:

      (a) Act with due skill, care and diligence in all dealings with customers;
      (b) Act fairly and reasonably in all dealings with customers;
      (c) Identify customers' specific requirements in relation to the services about which they are enquiring;
      (d) Provide sufficient information to enable customers to make informed decisions when purchasing services offered to them, as listed under Paragraph BC-2.5.2 of the Appendix;
      (e) Provide sufficient and timely documentation to customers to confirm that their transaction arrangements are in place and provide all necessary information about their rights and responsibilities, as listed under Paragraph BC-2.5.3 of the Appendix;
      (f) Maintain fair treatment of customers through the lifetime of the customer relationships, and ensure that customers are kept informed of important events;
      (g) Ensure complaints from customers are dealt with fairly and promptly, in accordance with the Rules under Section BC-2.3;
      (h) Ensure that all information provided to customers is clear, fair and not misleading, and appropriate to customers' information needs; and
      (i) Take appropriate measures to safeguard any money and precious metals handled on behalf of customers and maintain confidentiality of customer information.
      October 2010