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CRA-4.5.9

When registering a new client, and prior to entering into transactions with such client, a licensee must disclose in clear, conspicuous, and legible writing in both Arabic and English languages, all relevant terms and conditions associated with its products and services including at a minimum, the following:

(a) the client's liability for unauthorized crypto-asset transactions;
(b) the client's right to stop payment of a preauthorized crypto-asset transfer and the procedure to initiate such a stop-payment order;
(c) under what circumstances the licensee will disclose information concerning the client's account to third parties;
(d) the client's right to receive periodic account statements from the licensee;
(e) the client's right to receive a confirmation note or other evidence of a transaction;
(f) the client's right to prior notice of a change in the licensee's rules or policies or terms and conditions; and
(g) [This Subparagraph was deleted in April 2023].
(h) cybersecurity risks associated with crypto-assets including the risk of partial or full loss of crypto-assets in the event of a cyber-attack, and measures that have been put in place to mitigate the cyber security risks.
Amended: April 2023
Added: April 2019