Provide clear information about fees, terms and conditions so that customers can make informed investment decisions. Information should include fee components, base and purchase prices and investor rights.
A provider must be transparent about prices and key terms and disclose other material information related to product features.
Be transparent about your fees:
- Ensure that fee schedules and other costs are clearly disclosed to investors before they make any investment decisions. Typically, these will include transaction fees and other items, such as delivery or storage fees.
- Fully disclose additional operational charges, such as gold delivery costs.
- Provide information to investors about any applicable basis price, the purchase price and the date and time of the transaction.
Be transparent about key terms:
- Make key terms and conditions available to prospects and investors.
- Include information on customer rights and reference applicable fees and other costs within disclosed terms.
Communicate changes in fees or terms:
- Let customers know about any changes to the fee schedule, costs, terms or conditions.
Disclose material corporate information to customers, prospects and other stakeholders, such as service providers. Explain what type of organisation you are. Include details about key personnel and highlight key safety aspects, where applicable.
Disclose key information to all stakeholders:
- You should disclose key information to your customers or prospects, as well as other stakeholders, such as regulators and tax authorities, as required by relevant local laws and regulations.
You should include the following:
- the jurisdiction under which the company operates
- company name, legal form, registration number
- information on key personnel, including relevant gold market experience.