Subject Title - INSETA

monetary terms or the basis for the calculation must be described ifthe amount is not determinable.Where a financial product is being replaced (the terminated product)by another financial product (the replacement product), full detailsmust be disclosed of any incentive, remuneration, consideration,commission, fee or brokerages received, directly or indirectly, by theprovider on the terminated product and the same by the provider onthe replacement product where the provider rendered financialservices on both the terminated and replacement product.Specific commission disclosure requirements of the Code of Conduct forauthorised FSPs and their representatives involved in forex investmentbusiness and for Administrative and Discretionary FSPsThe forex intermediary must disclose to a client non-cash incentivesoffered or other indirect consideration payable to the forexintermediary because of the intermediating on the client'sinvestments. 60The mandate between a client and a forex investment intermediarymust state whether the forex investment intermediary receivescommission, incentives, fee reductions or rebates from a foreignforex services provider or any other applicable institution for placinga client's funds with them. 61The mandate between a client and a discretionary FSP must statewhether the discretionary FSP receives commission, incentives, feereductions or rebates from an administrative FSP or product supplierfor placing a client‟s funds with them. 628.3 DISCLOSURE OF PRODUCT INFORMATION8.3.1 Disclosures of product suppliers and FSP informationNot only must FSPs ensure that there is adequate disclosure on productsuppliers, FSPs and commission; but there should also be adequatedisclosure with regard to the products being offered to clients. This is toensure that clients get adequate information on financial products.60 Section 3(a)(j) of the Forex Code61 Section 5(1)(h) of the Forex Code62 Section 5(1)(h) of the Discretionary Code© INSETA - Section 1 12a 141