- A Regulated Person:
- in the transaction of business must observe high standards of ethics and conduct and must act openly and fairly and in accordance with just and equitable principles of trade, and
- must not engage in any business conduct that is unbecoming or detrimental to the public interest.
- Without limiting the generality of the foregoing, any business conduct that:
- is negligent,
- fails to comply with a legal, regulatory, contractual or other obligation, including the rules, requirements, and policies of a Regulated Person,
- displays an unreasonable departure from standards that are expected to be observed by a Regulated Person, or
- is likely to diminish investor confidence in the integrity of securities, futures or derivatives markets,
may be conduct that contravenes one or more of the standards set forth in subsection 1402(1).