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VASPs providing Broker-Dealer Services shall publish on their website in a prominent place or make available by other publicly accessible means—
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a. |
a detailed description of any actual or potential conflicts of interest arising out of their activities, and how these are managed; |
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b. |
their policies and procedures relating to data privacy, whistleblowing and handling of client complaints; |
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c. |
a summary containing the following information pertaining to each Virtual Asset offered by the VASP—
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i. |
name and symbol; |
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ii. |
date of issuance; |
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iii. |
market capitalisation and fully diluted value; |
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iv. |
circulating supply, including as a percentage of maximum total supply [if applicable]; |
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v. |
whether the Virtual Asset has been subject to an independent smart contract audit and the date of the most recent audit; and |
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vi. |
largest reduction in price from high to low stated as both an absolute amount and a percentage change, including when it occurred;
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d. |
a description of how the VASP determines the prices of the Virtual Assets it quotes to clients; |
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e. |
a description of the VASP's routing practices, including if twenty percent [20%] or more of client orders are routed to any liquidity source and if so, the identity of such source[s]; |
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f. |
a statement as to whether the VASP holds or maintains funds or Virtual Assets or provides clearing services for other VASPs providing Broker-Dealer Services and if so, include a description of those services; |
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a statement as to the VASP’s arrangements for the protection of clients’ ownership of assets held by the VASP; |
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h. |
a statement of whether the VASP refers or introduces clients to other Entities including, but not limited to, other VASPs and, if so, a description of the terms of such arrangements and the monetary or non-monetary benefits received by the VASP, including by way of reciprocation for any service or business; and |
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a statement of whether the VASP has accounts, funds or Virtual Assets maintained by a third party and if so, provide the identity of that third party.
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| 2. |
Other disclosable matters. To the extent permissible under applicable laws, VASPs providing Broker-Dealer Services shall publish on their website or by other publicly accessible means—
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a. |
details of any past convictions or prosecutions of any member[s] of their Senior Management or Board, whether before the courts of the UAE or the courts of another jurisdiction; and |
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any such other information relating to their business or activities as VARA may reasonably require.
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| 3. |
The disclosure requirements set out in this Rule I.B of this Broker-Dealer Services Rulebook are in addition to all disclosures required under the Market Conduct Rulebook and to all notifications to VARA required under the Compliance and Risk Management Rulebook.
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