| 1. |
In addition to all requirements in the Market Conduct Rulebook, Client Agreements for VA Management and Investment Services shall set out the following, to the extent applicable—
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a. |
description of Virtual Assets in-scope of VA Management and Investment Services that are sufficient to identify them; |
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b. |
the respective rights of the VASP, the client and any other Entity involved in the VA Management and Investment Services in respect of Virtual Assets that are the subject of the Client Agreement, including in respect of staking; |
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c. |
how and when any proceeds are paid or payable, or in the case of variable proceeds, how they are calculated and how the proceeds may vary and how such variations will be communicated by the VASP to the client; |
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d. |
whether or not Virtual Assets of a client used by a VASP in the course of, or in connection with, any VA Management and Investment Services, shall be held on behalf of the client; |
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e. |
the consent of the client shall be clearly obtained in accordance with all applicable laws for the use of any Virtual Assets used in the course of the provision of VA Management and Investment Services by the VASP; |
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f. |
any right of the client to withdraw any Virtual Assets held by the VASP; |
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g. |
a statement explaining that client Virtual Assets used by the VASP in the course of the provision of VA Management and Investment Services may be at risk, including the types and nature of such risks, and a statement on the likelihood and severity of any losses which may be suffered; |
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h. |
any rights of the VASP to vary the terms of the Client Agreement; |
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i. |
any rights of the VASP and the client to terminate the Client Agreement and the consequences of termination; |
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j. |
any terms relating to any fluctuation in value of the Virtual Assets to which the Client Agreement relates; |
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k. |
consequences of any event of default; |
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l. |
an explanation of the risks the client may be exposed to; |
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m. |
full details of the VASP’s client complaints procedure; and |
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n. |
whether the VASP receives any remuneration, discount or other benefit for routing clients’ orders to a particular trading platform or VASP in the course of provision of VA Management and Investment Services.
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