Financial Advisory and Intermediary Services Act 2002 (Act No. 37 of 2002)

Codes of Conduct

Code of Conduct for Authorised Financial Services Providers and their Representatives, involved in Forex Investment Business, 2004

Part IV : Special Provisions applying to Forex Investment Advisors

8. General functions
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(1)A forex investment advisor must, prior to referring clients to a forex investment intermediary, ascertain whether that intermediary is an authorised financial services provider. If not, the forex investment advisor must determine whether that intermediary is by law required to be authorised as such and if so, decline to refer clients to such intermediary.

 

(2)A forex investment advisor must conduct its business with a representative in the same manner that must conduct its business with a forex investment intermediary.

 

(3)The provisions of—
(a)sections 2(1)(a) to (e) and (g), 3(1)(b) to (n) and 4 of this Code; and
(b)section 8(1) to (5), of the General Code,

apply, with the necessary changes and unless clearly inappropriate taking into consideration the particular features of forex investment business, to  forex investment advisor and any client of the advisor.