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

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.