Duties of IFS Practitioners giving investment advice

Where an IFS Practitioner gives investment advice, he shall– (a) act honestly and fairly and with due skill, care and diligence in the best interest of his customers and the integrity of the market; (b) have and shall effectively employ the resources and procedures required for the proper performance and conduct of his business activities; (c) seek from his customers, adequate information concerning the latter’s financial situation, experience and objectives relevant to the services to be provided; (d) make adequate disclosure of any relevant and material information when dealing with his (e) ensure that there is no conflict of interest between himself and his client companies and between one client company and another, and in respect of each company for which he provides services shall (i) disclose his interest, if any, in the matter; (ii) maintain separate accounts in his books; (iii) segregate the funds and other property of each company; (iv) maintain one or more separate bank accounts into which he shall deposit all moneys held by him on behalf of each company.