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Our code of ethics

Duties to clients

•  Prudence and Diligence
Every member has a duty of loyalty to its clients, and in accordance with the said duty every member shall:
•  act with reasonable care and exercise prudent judgment when dealing with its clients;
•  act for the benefit of its clients;
•  put the interests of clients above its own interests.

•  Fair dealing
Every member shall deal fairly and objectively with all clients when providing investment analysis, making investment recommendations, taking investment action or engaging in other professional activities.

•  Suitability
No member shall recommend to a client to whom investment, supervisory, management or consulting services are provided, the purchase or sale of any security without reasonable grounds to believe that the recommendation is suitable for the client on the basis of information furnished by the client and upon reasonable enquiry concerning the client's investment objectives, financial situation and needs, and upon reasonable examination of the client's financial records.

•  Consent of the client
No member shall carry out any transaction in relation to clients securities account unless he has obtained written instructions from the client authorizing the transaction, and in particular no member shall: -
•  lend or arrange for the lending of any securities carried for the account of any client without the client's written consent;
•  borrow, or arrange to borrow using the securities carried for the account of any client, as collateral, without the client's written consent;
•  sell or in any manner whatsoever part with securities carried in a client's securities account without the client's prior written authorization.

•  Competing compensation arrangements
No member shall accept gifts, benefits, compensation or consideration that competes, or might reasonably create conflict of interest, with their client's interest unless he has obtained prior written consent of the client.

•  Communication
Every member shall maintain good communication with its client and shall ensure that every communication with the client is: -
•  made by its authorized representative, agent or employee;
•  fair, accurate and complete;
•  evidenced in writing.

•  Confidentiality
Every member shall keep confidential all information it has acquired about current, former, and prospective clients. Information may be disclosed only if: -
•  the information concerns illegal activities on the part of the client or prospective client;
•  disclosure is required under the law;
•  the client or prospective client permits disclosure of the information;
•  the information is required by KASIB for the purposes of carrying out its objectives.