VARA Advisory Services Rulebook (version dated 19 May 2025)chapter by chapter

Part I.A.1-2Part I.A Policies and procedures

VASPs must maintain written policies ensuring the independence of advice and staff competence, and must review the effectiveness of these advisory services policies and procedures at least yearly.

Part I.B.1-3Part I.B Public disclosures

Virtual Asset Service Providers must publicly disclose conflicts of interest, privacy, whistleblowing and complaints policies, referral arrangements, third-party account holdings, and senior management convictions where lawful.

Part II.A.1-5Part II.A Client suitability

Advisors must ensure clients understand Virtual Asset risks, give advice in good faith that is suitable and in the client's best interest, keep client information for eight years, and eliminate bias.

Part II.B.1Part II.B Staff competency

All staff must be knowledgeable and trained in the Virtual Asset sector, qualifications, and VARA framework.

Part II.C.1-2Part II.C Verification of information

Advisers must not give advice containing misleading, false or deceptive statements or forecasts, and must verify factual information against reliable sources before use.

Part II.D.1Part II.D Methodology

Advisory VASPs must assess a broad and sufficiently diverse range of available Virtual Assets so that the client's investment objectives are met.

Part II.A.3-retRecord Retention — Client information gathered for suitability assessment

Client suitability assessment records must be retained for eight years from the date collected or last updated.