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E. Client communication and disclosures

1.In addition to all other requirements in the Regulations, Rulebooks and/or Directives, VASPs providing ETD Services must ensure that all communications and disclosures in relation to the ETD Services or any ETDs are fair, clear and not misleading and are compliant with the Marketing Regulations. VASPs should have regard for the Guidance provided by VARA on the term "prominent disclaimer" when interpreting Rule ‎V.E.2 below.
2.
VASPs providing ETD Services shall— 
 
a.provide regular updates to clients on their ETD positions, their ETD Initial Margin, and any ETD Maintenance Margin; 
b.include a prominent risk disclosure statement on the VASP's website relating to the risks associated with ETD Services;
c.include a prominent disclaimer on the VASP's website that VARA's approval of the VASP to provide ETD Services is not an endorsement of either (i) any specific ETD or (ii) any type of ETDs, offered by the VASP, and must not be construed or considered as such; and
d.regularly test, monitor, and review communications to ensure that they comply with this Rule ‎V.E.2. 
 
3.Retail Investors. To the extent that a VASP provides ETD Services to Retail Investors, the VASP must ensure that all communications and disclosures required under this Rule ‎‎V.E are provided in a way which can reasonably be understood by such Retail Investors, including a greater explanation of the risks and liabilities associated with ETDs and the ETD Services. This should also include a link to the disclosures, and where applicable, the educational section of the VASP's website, as well as information on the regulatory status of the VASPs platforms.
4.
As required under Rule ‎‎V.D.6 of this Exchange Services Rulebook above, in the event that a client's liabilities in respect of any ETD Services may have an impact on any assets held by the client with the VASP which are not related to ETD Services, the VASP must obtain the client's explicit prior acknowledgement and consent to such risk. Such consent cannot be provided on an ‘opt-out’’ basis and must be an explicit prior acknowledgement and consent to such risk by the client.