FCA related Currency Conversions
FCA related Currency Conversions by Intermediaries without SARB approval
Unless otherwise agreed between the Intermediary and Investec, where currency conversions are facilitated directly with Investec by non-SARB approved and regulated Intermediaries to or from foreign currency accounts, the exchange rate at which such conversions are concluded will be a market related Investec Bank rate, determined at the time of execution, subject to all requirements being met. There will be no exchange rate confirmation prior to execution.
Without limitation, Investec does not accept any liability due to any delay or change in market conditions before any particular transaction is effected, and the client will be responsible for all transactions entered by the client or on the client’s behalf by the Intermediary, and the client will be fully liable to Investec for the settlement of any transaction arising from any aforementioned currency conversion.