Market Conduct & Client Communications | Neves Licensing Authority
Guidance & Standards

Market Conduct, Fair Disclosure & Client Communications

This guidance sets out expectations for how licensed entities communicate with clients and the public, including advertising standards, disclosures, and ongoing communications.

Market Conduct Client Communications Reference: NLA/GUID/MKT/025

Purpose of This Guidance

Clear and fair communication is central to market integrity. This guidance explains the standards that apply to marketing, disclosures, and ongoing communications with clients and counterparties.

General Conduct Principles

Communications must be fair, clear, and not misleading. Information should be presented in a manner that enables informed decision-making.

Advertising and Promotional Material

  • Marketing must accurately reflect authorised activities
  • Risk disclosures must be prominent and not obscured
  • Past performance must not be presented as indicative of future results
  • Comparative claims must be capable of substantiation

Risk Disclosures

Risk disclosures should be clear, balanced, and tailored to the nature of the service. Boilerplate or generic disclosures may be insufficient where risks are material.

Disclosures must be as visible as promotional claims, not relegated to footnotes.

Ongoing Client Communications

Licensees should maintain appropriate channels for ongoing communication, including notifications of material changes affecting services or terms.

Recordkeeping

Records of client communications and marketing material should be retained to support supervisory review and dispute resolution where required.

Conclusion

Responsible communication supports trust and long-term market confidence. Licensees should view market conduct as a governance obligation, not a marketing constraint.