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CRA-4.5.9

Past version: Effective from 01 Apr 2019 to 31 Mar 2023
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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 and valuations 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; and
(g) such other disclosures as are customarily given in connection with the opening of client accounts.
Added: April 2019