• Banks and their authorized agents should set out and explain clearly the key features, risks and terms of the products, fees, commissions or charges applicable, and make available the details of these to customers.
  • Additional disclosures, including appropriate warnings, should be developed to provide information commensurate with the nature and risks of the products and services.
  • All financial promotional material should be accurate, honest, understandable and not misleading.
  • Standardised pre-contractual disclosure practices should be adopted where applicable and practicable to allow comparisons between products and services of the same nature.
  • Where advice is provided, the advice should be as objective as possible and should, in general, be based on the customer’s profile considering the complexity of the product, the risks associated with it as well as the customer’s financial objectives, knowledge, capabilities and experience.
  • Banks should inform customers that it is important to provide banks with relevant, accurate and available information.