INMA 9B.1.13 Dealing and managing — non-market-price transactions
(1) An INMA firm must not enter into a non-market-price transaction with or for a customer, unless it has taken reasonable steps to ensure that the customer is not entering into the transaction for an improper purpose.
(2) An INMA firm must:
(a) make a record of the information it has obtained in satisfying subrule (1) in relation to a non-market-price transaction; and
(b) must keep the record for at least 6 years after the day the information is obtained.
(3) This rule does not apply to a non-market-price transaction if it is subject to the rules of an eligible exchange.
(4) A transaction is a non-market-price transaction if the dealing rate or price paid by the firm or a customer differs from the prevailing market rate or price to a material extent.
|Inserted by QFCRA RM/2019-4 (as from 1st January 2020).|