Broker Dealer Contract

Broker Dealer Contract Template for England and Wales

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Key Requirements PROMPT example:

"Need a Broker Dealer Contract for a UK-based fintech startup offering algorithmic trading services to professional clients only, with specific provisions for electronic trading platforms and API integration, to be implemented by March 2025."

Document background

The Broker Dealer Contract serves as the foundational document establishing the professional relationship between broker-dealers and their clients in the UK financial markets. This agreement, governed by English and Welsh law, is essential for compliance with FCA regulations and MiFID II requirements. It outlines the terms of service, regulatory obligations, risk disclosures, and fee structures. The contract is particularly important in today's complex financial markets where clear documentation of responsibilities and obligations is crucial for risk management and regulatory compliance.

Suggested Sections

1. Parties: Identification of the broker-dealer and client, including registration details and regulatory status

2. Background: Context of the agreement, regulatory framework, and purpose of the broker-dealer relationship

3. Definitions: Key terms used throughout the agreement, including regulatory and industry-specific terminology

4. Services: Detailed scope of broker-dealer services, permitted activities, and service limitations

5. Client Classification: Classification of client type (retail/professional/eligible counterparty) and resulting obligations

6. Fees and Charges: Payment terms, commission structure, and other applicable charges

7. Obligations and Responsibilities: Duties of both parties, including regulatory compliance requirements and reporting obligations

8. Risk Disclosures: Mandatory risk warnings and disclosures as required by FCA regulations

9. Anti-Money Laundering: AML compliance requirements, due diligence procedures, and ongoing monitoring

10. Confidentiality: Protection of confidential information and trade secrets

11. Term and Termination: Duration of agreement, termination rights, and post-termination obligations

12. Governing Law: Specification of English and Welsh law as governing law and jurisdiction

Optional Sections

1. Online Services: Terms for electronic trading platforms and digital services

2. Research Services: Terms for providing investment research and analysis

3. Margin Trading: Terms and conditions for margin trading services

4. Corporate Finance Services: Terms for any corporate finance advisory services

5. International Trading: Additional terms for cross-border trading activities

Suggested Schedules

1. Fee Schedule: Detailed breakdown of all fees, commissions, and charges

2. Risk Disclosure Statement: Comprehensive risk warnings for specific products and services

3. Order Execution Policy: Details of how client orders will be executed in compliance with best execution requirements

4. Conflicts of Interest Policy: Policy for identifying and managing potential conflicts of interest

5. Data Protection Schedule: GDPR compliance measures and data processing details

6. Required Regulatory Disclosures: Standard regulatory disclosures required by FCA and other applicable regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Relevant Teams

Relevant Roles

Industries

Financial Services and Markets Act 2000 (FSMA): Primary legislation governing financial services regulation in the UK, establishing the regulatory framework and the FCA's powers

Financial Services Act 2012: Reformed the UK financial services regulatory structure, including amendments to FSMA and establishing new regulatory bodies

Financial Services and Markets Act 2000 (Regulated Activities) Order 2001: Defines which activities require FCA authorization and regulation in the financial services sector

FCA Handbook - COBS: Conduct of Business Sourcebook - Details rules and guidance for financial services firms' business conduct

FCA Handbook - SYSC: Senior Management Arrangements, Systems and Controls - Outlines requirements for firm's management and control systems

FCA Handbook - PRIN: Principles for Businesses - Sets out the fundamental obligations for regulated firms

MiFID II (UK Implementation): UK version of Markets in Financial Instruments Directive II, governing financial markets and improving protections for investors

UK Market Abuse Regulation (UK MAR): Regulatory framework preventing market abuse and maintaining market integrity

Money Laundering Regulations 2017: Regulations requiring firms to have anti-money laundering and counter-terrorist financing controls

Proceeds of Crime Act 2002: Legislation dealing with money laundering and proceeds of crime, including reporting obligations

UK GDPR: UK version of General Data Protection Regulation governing the processing and protection of personal data

Data Protection Act 2018: UK's implementation of data protection standards, complementing UK GDPR

Unfair Contract Terms Act 1977: Regulates unfair terms in contracts, particularly exclusion and limitation clauses

Consumer Rights Act 2015: Protects consumer rights and regulates business-to-consumer contracts

Companies Act 2006: Primary legislation governing company operations and corporate matters in the UK

Financial Services (Banking Reform) Act 2013: Legislation implementing structural reforms to the UK banking sector

Payment Services Regulations 2017: Regulations governing payment services, including requirements for payment service providers

Electronic Commerce (EC Directive) Regulations 2002: Regulations governing electronic commerce and online business activities

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Authors

Alex Denne

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