Duties of DIMS licensee

433 DIMS licensee’s duties


A DIMS licensee must—


act honestly in providing the service; and


in exercising any powers or performing any duties as a DIMS licensee under the client agreement or investment authority for the service,—


act in the best interests of the investors using the service and treat those investors equitably (if the service is provided to a class of investors); and


act in the best interests of the particular investor using the service (if the service is provided to only that investor); and


not make use of information acquired through being the DIMS licensee in order to—


gain an improper advantage for itself or any other person; or


cause detriment to the investors using the service.


A DIMS licensee must provide the service in accordance with a client agreement that complies with subpart 5 and an investment authority that complies with section 437.