Know your rights

With the rise of digital financial services, it’s easier than ever to manage your money online. But with convenience also comes risk — so it’s essential to stay informed and vigilant.

1. Stay alert to fraud
   Be cautious when using online payment or account information services. If you are unsure who you are dealing with or suspect something is off, don’t share your banking details, passwords, or personal information.
2. Always read the fine print
   Before signing up for any financial service, read the terms and conditions carefully. This includes understanding what the service includes and how it handles your data.
3. Understand your data sharing
   Know exactly what account access you are granting, how your information will be used, and who it might be shared with.
4. Monitor your account statements
   Regularly check your account statements (bank, brokerage, custody, digital wallets, etc.). If you spot a transaction you don’t recognise, contact your financial firm right away.
5. Use multiple sources for verification

Always cross-check a firm’s legitimacy through trusted sources. Tools like I-SCAN offer international data to help you identify unauthorised activities and red flags before investing. [disclsimer that i-Scan is not exhaustive]

Remember that Your Data Protection Matters

Fraudsters target investors’ personal data to access money and investment accounts. AFSA requires financial firms to meet international standards, undergo annual IT audits and vulnerability tests, and follow strict rules for handling client data.

Companies must follow the law
Any business accessing your personal data — including banks and payment service providers — is required to comply with applicable data protection laws.

Report concerns
If you believe your data has been mishandled or a breach has occurred, you can contact [AFSA or AIFC Data Protection Officer -add contacts] to raise your concern.

Your Rights as a Client: Communication Standards and Financial Promotions

At AFSA-authorised firms, you have the right to clear, honest, and fair treatment in all our communications with you.

Fair, Clear, and Not Misleading

AFSA-authorised firms are required to ensure that any communication with you as a client — whether about a financial product, service, or promotional content — is always:

• • Accurate
  • Fair
  • Not misleading

This applies to everything from marketing materials and product terms to client agreements and legal authorisations (such as powers of attorney).

No Hidden Disclaimers or Avoidance of Responsibility

AFSA-authorised firms shall never use communication to avoid or limit their responsibilities to you. All interactions and financial promotions comply fully with the rules and regulations of the AIFC (Astana International Financial Centre). This means:

• • No language designed to mislead or confuse
  • Full transparency in all services and products offered

What “Communication” Includes

In this context, “communication” covers a wide range of materials and interaction, whether in oral, written or electronic form including (but not limited to):

• • Financial promotions and advertisements
  • Client agreements and terms of business
  • Product terms and conditions
  • Mandates and powers of attorney related to financial services
  • Investment advice, recommendations or offers

• • Statements and notices required under regulatory rules

• • Any other messages or documents relating to financial offerings

Suitability & Appropriateness: How Authorised Firms Ensure the Right Fit for You

At AFSA-authorised firms, your financial wellbeing is top priority. That is why authorised firms follow strict rules to make sure any investment advice or decisions that they make on your behalf are tailored specifically to your needs, goals, and level of experience.

Suitability Assessments

Whenever authorised firms:

• • Advise on investments
  • Manage investments on your behalf

They are required to assess the suitability of any recommendation or trading decision. This means they take the time to understand:

• • Investment or other objectives including the intended length of time you plan to hold Investments, your risk profile, and your tolerance for risk.
  • Your Current Financial Situation: Assessed by requesting information on the source and extent of your income, assets, Investments, Real Property, and any regular financial commitments or liabilities.
  • Your Investment Knowledge and Experience: Assessed by considering the types of Investment, Investment Service and Transaction you are familiar with, the nature, volume, and frequency of your transactions, your level of education, profession, and knowledge of any associated risks.

Only after this assessment will authorised firms recommend an investment or proceed with a trade – ensuring it’s the right fit for you.

Complete Information is Important

If authorised firms don’t have enough information to assess whether a product or service is suitable for you, they simply will not proceed with a recommendation or trade.

A client intending to act as a Professional Client will have to prove this status as per the criteria outlined in the Conduct of Business (COB). Client classification is determined during an initial assessment, where each client is identified as a retail client, a professional client, or a market counterparty. This classification then defines the level of detail required for subsequent suitability or appropriateness checks.

For Deemed Professional Clients, the assumption is that you meet the financial criteria automatically, in line with regulatory standards.

For Retail Clients: You will Receive a Suitability Report

If you are a retail (individual) client receiving investment advice, you will receive a Suitability Report outlining:

• • The advice provided
  • Why the recommendation is suitable for you
  • How it aligns with your personal circumstances and objectives
  • A reminder that your situation should be reviewed periodically

How we assess Appropriateness

When an Authorised Firm executes transactions or transmits orders without giving advice, it performs an Appropriateness Assessment. This ensures the investment product or service is suitable for your level of knowledge and experience.

Before proceeding with any investment or transaction, authorised firms ask for information about your:

• • Understanding of investment products
  • Experience with relevant financial services
  • Ability to assess associated risks

Another important point is that for retail clients interested in certain complex products—such as digital assets or derivatives—an enhanced appropriateness assessment is required. In addition to confirming that the client has the necessary knowledge and experience to understand the risks, the firm must also evaluate the client’s capacity to absorb potentially significant losses arising from factors like volatility or leverage. If the firm concludes that trading in digital assets or derivatives is not appropriate for the client, it must not offer that service.

This helps determine whether a particular investment is appropriate for you.

Note: If you are a Professional Client, authorised firms may reasonably assume you have the required knowledge and experience, as outlined in AIFC rules.

If an authorised firm believes a product or service is not appropriate for you, they will clearly warn you before you proceed. Our goal is to help you make informed, responsible financial decisions.

Client Agreements and Reporting

Client Agreements

Before providing any regulated financial services, Authorised Firms must give clients key information in accordance with the AIFC Conduct of Business Rules, with the key information having to include the firm’s name and address, its regulatory status, a breakdown of fees and charges, and essential details about its complaints-handling procedures. This information must be provided in good time before the service is delivered, allowing clients to make informed decisions. (Note: Certain exceptions may apply.)

There are also specific cases—such as accounts with uncovered open positions in Contingent Liability Investments (where potential losses may exceed the amount initially invested or deposited) or DASPs that provide custody for retail clients—where statements must be issued monthly.

If you are a Retail Client, a written agreement must be established between you and the Authorised Firm. This agreement will clearly define the key rights and responsibilities of both parties.

Authorised Firms may deliver the required key information in one of two ways:

• • By providing a copy of the proposed client agreement that includes the key information, or
  • By delivering the key information separately from the client agreement.

Client Reporting and Trade Confirmations

When executing a transaction as part of Managing Investments for a client, an Authorised Firm is required to send a confirmation note as soon as possible—no later than two business days after the transaction is completed.

This confirmation will include all relevant transaction details as outlined in the AIFC Conduct of Business Rules, such as the firm’s name, whether the firm acted as principal or agent, the description and amount of the investment, the executed price, the date/time of the transaction, and all applicable charges and fees.

For Professional Clients and Market Counterparties, customised reporting arrangements may be agreed upon, including variations in content and delivery timelines.