Past version: Effective up to 30 Jun 2016
Before opening a corporate customer account, a Trading Member must:—
(1) obtain particulars of the customer, including the full name, registered and mailing addresses, names and signatures of persons authorised to trade, and investment objectives (if applicable);
(2) obtain a certified true copy of the certificate of incorporation of the customer; and
(3) obtain either:—
(a) a copy of the directors' resolution of the customer approving the opening of a trading account with the Trading Member and empowering specific directors and officers to:—
(i) trade in securities or Futures Contracts for the customer's account; and
(ii) execute all documentation for trading and settlement in the account;
(b) a power of attorney (in English) certified by a notary public, authorising identified persons to open a trading account and trade on behalf of the customer; or
(c) note in writing the basis upon which it believes the customer may open the account and engage in transactions and that the persons acting for the customer have been duly authorised to trade on the customer's behalf.
Refer to Practice Note 12.3.1, 12.3.2.
Amended on 3 April 20083 April 2008.