1.
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In addition to all other requirements in this VA Transfer and Settlement Services Rulebook, VASPs providing VA Transfer and Settlement Services which involve any exchange, trade or conversion between the Virtual Assets received and another Virtual Asset or fiat currency, must—
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a. |
continue to act honestly, fairly and in good faith; |
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b.
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provide a description of how they undertake any exchange, trade or conversion, to their clients or potential clients, including whether they use any third party, and the nature of the role of such third party; |
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c.
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disclose all relevant terms and conditions associated with the exchange, trade or conversion, to their clients or potential clients, including but not limited to applicable fees; |
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d.
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do everything within their control to ensure completion of the transmission or transfer, and/or settlement thereafter, including any such exchange, trade or conversion, subject only to limitations or malfunctioning of any DLT in the event they are not controlled directly or indirectly by the VASP or its Group; and |
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e.
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remain directly responsible to their clients for the completion of the transmission or transfer, and/or settlement as relevant.
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