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BC-2.10.4

Past version: Effective from 31 Oct 2025 to 30 Jun 2007
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Investment firm licensees must establish and maintain adequate policies and procedures, to ensure that:

(a) an employee does not undertake a personal account transaction unless:
(i) the investment firm licensee has, in a written notice, drawn to the attention of the employee the conditions upon which the employee may undertake personal account transactions and that the contents of such a notice are made a term of his contract of employment or services;
(ii) the investment firm licensee has given its written permission to that employee for that transaction or to transactions generally in financial instruments of that kind; and
(iii) the transaction will not conflict with the investment firm licensee's duties to its clients;
(b) it receives prompt notification or is otherwise aware of each employee's personal account transactions; and
(c) if an employee's personal account transactions are conducted with the investment firm licensee, each employee's account must be clearly identified and distinguishable from other clients' accounts.