CRA-12.3.1
Past version: Effective from 01 Apr 2019 to 31 Mar 2023
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(a) Seek from its clients information relevant to the accepted crypto-asset or regulated crypto-asset service requested;
(b) In the completion of any document, make it clear that all the answers or statements regarding the client's personal details and circumstances are the client's own responsibility. The client should always be required to assume responsibility for the completed document and be advised that incomplete and/or inaccurate information may prejudice the client's rights;
(c) Not withhold from the client any written evidence or documentation relating to the accepted crypto-asset or regulated crypto-asset service without adequate and justifiable reasons being disclosed in writing and without delay to the client;
(d) Not recklessly, negligently or deliberately mislead a client in relation to the real or perceived advantages or disadvantages of any accepted crypto-asset or regulated crypto-asset service ;
(e) Ensure that all instructions from or on behalf of a client are processed properly and promptly;
(f) Have proper regard for the wishes of a client who seeks to terminate any agreement with it to carry out business;
(g) Seek to avoid conflicts of interest;
(h) Not exert undue pressure or undue influence on a client;
(i) Give advice only on those accepted crypto-assets or regulated crypto-asset services in which the licensee is knowledgeable and seek or recommend other specialist advice when necessary;
(j) Treat all information supplied by the client with complete confidentiality; and
(k) Not request clients to sign declarations to the effect that she/he has understood and accepts certain features of the virtual financial asset or that she/he is relying on his/her own skill, judgement and expertise when it is the obligation of the licensee to assess the suitability or the appropriateness of such accepted crypto-asset vis-à-vis the client.
Added: April 2019