Document ID: chunk:federal_register_of_legislation:F2024C01108:front:0:p55
Version: federal_register_of_legislation:F2024C01108
Segment Type: other
Provision Reference: 
Character Range: 146141–149060

(1) Subject to subrule (3), a Market Participant must not take steps to encourage or induce a client to provide the instructions referred to in subrules 3.8.1(3) or (4).
(2) A Market Participant must not take steps to encourage or induce a client to agree that the Participant is not required to disclose the matters referred to in subrules 3.10.1(1) and (2).
(3) A Market Participant who takes steps to inform a wholesale client that its standing instructions provided under paragraph 3.8.1(4)(c) are due to expire, does not contravene this Rule.

3.8.3 Prohibition on discriminatory commission structure
A Market Participant must not charge a client, or propose to charge a client, brokerage, commission or other fees for executing an Order on a Market that differs from the brokerage, commission or other fees the Participant would charge if the Order was executed on another Market, unless the difference is related to the actual cost of executing Orders on a Market.

Part 3.9 Policies and procedures

3.9.1AA Application of Part
This Part applies to:
(a)        Participants of a Market on or through which offers to acquire or dispose of Equity Market Products are made or accepted;
(b)       Participants of a CGS Market;
(c)        Orders (including Client Orders) in relation to Equity Market Products and CGS Depository Interests.

3.9.1 Market Participant must have adequate policies and procedures in place
(1) A Market Participant must establish, document and implement adequate policies and procedures to ensure that it complies with Rule 3.8.1.
(2) A Market Participant's policies and procedures under subrule (1) must, without limitation, set out a description of:
(a)        the Order Books, and (in reliance on an exception to subrule 6.1.1(1)) any place other than an Order Book, to which the Market Participant may transmit Client Orders;
(b)       how Client Orders will be handled and executed, including the circumstances in which Client Orders will be transmitted for matching or execution to an Order Book or elsewhere (in reliance on an exception to subrule 6.1.1(1)) and the circumstances in which that transmission will be automatic and the circumstances in which that transmission will be manual; and
(c)        arrangements to monitor the policies, procedures and implementation required by subrule (1) to ensure they continue to be adequate to ensure compliance with subrule 3.8.1(1).

3.9.2 Participant must comply with its policies and procedures
A Market Participant must comply with the policies and procedures required under Rule 3.9.1.

3.9.3 Best execution arrangements—Review
A Market Participant must review the policies and procedures and implementation of them required by Rule 3.9.1 each time:
(a)        there is a material change in circumstances that affects where the Market Participant may transmit Client Orders; and
(b)       the results of monitoring undertaken under