[Section 75 heading substituted by section 290, item 54(a) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (1) |
A conduct standard for authorised users, participants or clearing members of independent clearing houses or central counterparties must be based on the principle that— |
| (i) |
act honestly and fairly, with due skill, care and diligence and in the interests of a client; |
| (ii) |
uphold the integrity of the financial markets; |
| (iii) |
have and effectively employ the resources, procedures and technological systems for the conduct of its business; |
| (i) |
seek information from a client regarding his or her financial position, investment experience and objectives where appropriate to the category of securities services provided and to the business of the client; and |
| (ii) |
act fairly in a situation of conflicting interests. |
[Section 75(1) substituted by section 290, item 54(b) and (c) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (2) |
A conduct standard for regulated persons, other than the regulated persons mentioned in subsection (1), must be based on the principle that the regulated person must— |
[Words preceding section 75(2)(a) substituted by section 290, item 54(d) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (a) |
act honestly and fairly, with due skill, care and diligence and, where applicable, in the interests of a client or member; and |
| (b) |
uphold the integrity of the financial markets. |
| (3) |
A conduct standard may provide for— |
| (a) |
the disclosure to a client of relevant material information, including the disclosure of actual or potential own interests; |
| (b) |
proper record-keeping; |
| (c) |
avoidance of fraudulent and misleading advertising, canvassing and marketing; |
| (d) |
proper safekeeping of transaction documents of clients; |
| (e) |
proper separation and protection of funds and securities of clients; and |
| (f) |
any other matter which is necessary or expedient to be regulated in a conduct standard for the achievement of the objects of this Act. |
[Section 75(3) substituted by section 290, item 54(e) and (f) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
National Environmental Management Act, 1998 (107 of 1998)
