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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 III : Special Provisions applying to Forex Investment Intermediaries

6. Reporting to clients


(1) A forex investment intermediary must furnish a written report to a client, which complies with subsection (2)—
(a) on request; and
(b) in the case of managed forex investments, providing for reporting in printed format, or electronically if so desired by the client, on a monthly basis, detailing investment performance up to and including the last day of the previous calendar month, if applicable.


(2) A report to a client must contain such information as is reasonably necessary to enable the client to —
(a) produce a set of financial statements;
(b) determine the changes in the market value of the investment over the period reported on; and
(c) determine the charges levied over the period reported on.


(3) Despite subsection (2), a client may request detailed information about the following matters:
(a) Original value of the forex investment, as well as the current market value thereof;
(b) currency pairs purchased or sold during the period;
(c) cash receipts and payments during the period;
(d) profits and losses realised during the period; and
(e) the leverage employed during the reporting period.