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  • General Obligations

    • CRA-12.2.1

      Licensees must adopt appropriate and transparent reporting lines within its organisation in order to ensure that issues involving risks of non-compliance with conflicts of interest Rules are given the necessary priority.

      Added: April 2019

    • CRA-12.2.2

      Licensees must establish, implement and maintain effective organisational and administrative arrangements appropriate to the size of the licensee and the nature, scale and complexity of its business, to prevent conflicts of interest from adversely affecting the interests of its clients.

      Amended: April 2023
      Added: April 2019

    • CRA-12.2.3

      The circumstances which should be treated as giving rise to a conflict of interest should cover cases where there is a conflict between the interests of the licensee or certain persons connected to the licensee or the group of which the licensee forms part, or from the performance of services and activities, and the duty the licensee owes to a client; or between the differing interests of two or more of its clients, to whom the licensee owes in each case a duty.

      Added: April 2019

    • CRA-12.2.4

      Licensees must establish, implement and maintain an effective conflicts of interest policy set out in writing and which is appropriate to the size of the licensee and the nature, scale and complexity of its business, to prevent conflicts of interest from adversely affecting the interests of its clients. The conflicts of interest policy must, at a minimum, include the following:

      (a) The identification of, with reference to the specific services and activities carried out by or on behalf of the licensee, the circumstances which constitute or may give rise to a conflict of interest entailing a risk of damage to the interests of one or more clients;
      (b) Procedures to be followed and measures to be adopted in order to manage such conflicts and to prevent such conflicts from damaging the interests of clients.
      Amended: April 2023
      Added: April 2019

    • CRA-12.2.5

      Licensees must assess and periodically review, at least annually, the conflicts of interest policy established and must take all appropriate measures to address any deficiencies.

      Amended: April 2023
      Added: April 2019

    • CRA-12.2.6

      [This Paragraph was deleted in April 2023].

      Deleted: April 2023
      Added: April 2019

    • CRA-12.2.7

      Licensees must keep and regularly update a record of the situations or service carried out by or on behalf of the licensee in which a conflict of interest entailing a risk of damage to the interests of one or more clients has arisen or, in the case of an ongoing regulated crypto-asset service, may arise. Senior Management must receive on a periodic basis, and at least annually, written reports on situations referred to in this Rule.

      Added: April 2019