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Support

Conflict Of Interest

Updated 23/05/18, v1

Application

This document summarises GKFX Financial Services Ltd (referred to as “GKFX FS” or “WE”) conflicts of interest policy (“Policy”). GKFX FS for these purposes includes its group companies, employees, branch offices, Rep Offices, Tied Agents and contractors or any person directly or indirectly linked to them by control.

GKFX FS sets out to manage conflicts of interest fairly and has established a conflicts of interest policy, which consists of procedures and controls, which assist in identifying and appropriately dealing with conflicts of interest – which are actual, apparent and potential.

This policy applies to all GKFX FS regulated activities and activities in connection with or for the purposes of such regulated activities, including those outsourced activities provided by a third party.

All employees are required to comply with the Policy.

Introduction

The objective of the Policy is to ensure that conflicts of interest within GKFX FS are identified, managed appropriately and where possible prevented.

We may make a discloser in order to ensure the fair treatment of clients and compliance with the rules and principles of the Financial Conduct Authority (“FCA”).

A conflict of interest is a situation whereby someone in a position of trust has competing professional or personal interests. Thus, competing interests may make it difficult for individuals to fulfil their duties impartially. Additionally, a “conflict” may exist even if no unethical or improper act results from it.

Furthermore, a “conflict of interest” can arise between the GKFX FS and its directors, employees, associated agents and any person directly or indirectly controlled by them and/or you as a client or between your interests and those of another client of ours.

Identification of Conflicts

GKFX FS will take reasonable steps in identifying, preventing and/or managing conflicts arising in relation to various areas of our business. We will identify conflicts where GKFX:

  • Partakes in an interest in the outcome of a service provided to a client, or a transaction carried out on behalf of clients, which may be distinct from the client’s interest in that outcome.
  • Make a financial gain or avoid a financial loss, at the expense of a client.
  • Carry on the same business as a client, and;
  • Accept from a person an inducement in relation to a service provided to a client in the form of monies, goods or services, supplementary to the standard commission or fee paid by the client for the given service.
  • In the event we identify an actual or potential conflict of interest, we could take the following steps:
    • I. We may decline to act where there is a possible conflict or cease engaging in the activity leading to the conflict.
    • II. We may accept the conflict of interest, however we will take steps to protect your interests; or
    • III. We could disclose the conflict of interest, and/or obtain your consent to act.
Managing Conflicts

GKFX FS has in place procedures, which are designed to identify and manage conflicts of interests. These consist of a number of organisational and administrative arrangements to protect the interests of clients and minimise the potential for conflicts to arise. Additionally, GKFX FS implements a number of methods to manage conflicts of interest and control the movement of confidential information. The following is a non-exhaustive list on how GKFX FS manages and prevents conflicts:

  • Segregation of duties and supervision of persons engaged in different business activities, which includes procedures for ensuring appropriate communication between different business units.
  • The requirement for all external directorships and outside business interests to be declared.
  • Gifts and personal benefits procedures, including a gift register; which documents the solicitation, offering or receipt of certain benefits.
  • Procedures to ensure that improper inducements are not given or received and suitable inducements are disclosed appropriately, and;
  • Personal account dealing restrictions are applicable to all staff and their associates, regardless of position.
Conflicts Disclosure

In the event GKFS FS considers, with reasonable confidence, that the current measures to manage potential and/or actual conflicts of interest are not sufficient to avoid material risk of damage to a client’s interest, GKFX FS will disclose the overall nature and/or causes of the conflict of interest to the client before undertaking any business.

Further Information

For further information on GKFX FS conflicts policy, please contact our Compliance department on compliance@gkfx.com or alternatively please contact our support team on: 0044 (0) 207 186 1212

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GKFX is a registered trademark of GKFX Financial Services Limited © 2017 GKFX Financial Services Limited – all rights reserved.

RISK WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. See our full Risk Warning and Terms of Business for further details.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. See our full Risk Warning and Terms of Business for further details.