Subject Title - INSETA

8.9.2 Provider terminates businessA provider (other than a representative) who stops operating as such, mustnotify all affected clients immediately.The provider must also, if appropriate, take reasonable steps, in consultationwith clients and product suppliers, to ensure that any outstanding business iscompleted promptly or transferred to another provider.8.9.3 Representative stops to operate as suchWhere a representative stops acting as representative for an FSP, theprovider must take reasonable steps, in consultation with clients and productsuppliers (as required), to notify all affected clients and ensure that anyoutstanding business is completed promptly or transferred to anotherprovider.Waiver of rightsSection 21 of the General Code prohibits a provider from inducing orrequesting a client to waive any of the rights or benefits which the GeneralCode provides.This also includes that even if a client waives such a right or benefit, the FSPis not allowed to recognise, accept or act on such a waiver.Any waiver of rights or benefits (under the General Code) is null and void.SummaryThe General Code prescribes the manner in which client funds mustbe held in custody, which includes a separate bank account, writtenconfirmation of money received and documents received, as well asadequate safeguarding of funds and documents.Adequate disclosures form the cornerstone of financial service.Disclosure of information relating to the product supplier, the FSP,commission, and product information must be done in the prescribedmanner.Transparency is a direct result of adequate disclosure.Conflict of interest must be managed carefully and there must bedisclosure of any real or potential conflict of interest, which may© INSETA - Section 1 12a 165