ADVOKS GLOBAL · KENYA
The Capital Markets (Online Foreign Exchange Trading) Regulations
18. Agreement between online forex broker and money manager
Edition: 2023-10-06 · In force
18. Agreement between online forex broker and money manager
(1)A money manager shall enter into an agreement, in writing, with an online foreign exchange broker that shall clearly set out the scope of activities that the money manager may undertake.(2)The agreement referred to in paragraph (1) shall have detailed provisions that include—(a)clear duties, responsibilities and performance of the money manager;(b)an undertaking by the money manager to disclose conflict or potential of interest to the online forex broker as soon as practical after becoming aware of the conflict;(c)the responsibility of the online forex broker to monitor the money managers conduct and to ensure compliance with the terms and conditions of the agreement;(d)obligations of the money manager including—(ii)conduct of marketing activities; and(iii)termination procedures;(e)the terms of remuneration of the money manager; and(f)the notices between the online forex broker and the money manager; and dispute resolution mechanisms.