A Licensed Person must establish adequate arrangements aimed to limit cases of conflicts of interest between Members of the Board of Directors, its clients, employees or agents; or making use of the confidential information of those clients, in particular, the following cases: 1. Enter into Securities transactions in which one of the Licensed Person’s clients is a party. 2. Enter into Securities transactions through using confidential information related to clients. 3. Provide inappropriate advice or recommendation to the Client in order to perform a process or to enter into a Securities transaction with the purpose of attaining a benefit for any of the Licensed Person’s employees or agents. 4. Disclose any confidential information obtained by one of the Licensed Person’s employees or agents, to another person with the purpose of entering into Securities transactions in which one of the Licensed Person’s clients is a party, or provide inappropriate advice or recommendation to another person in order to enter into such a transaction.