3.3.10 Segregation of Customers' Monies and Assets and Fiduciary Obligations

Past version: Effective up to 31 Mar 2014

The following requirements apply in relation to a Member's fiduciary obligations to its Customers:

(a) a Member shall discharge its fiduciary obligations to its Customers by:
(i) segregating Customers' monies and assets from the Member's monies and assets;
(ii) depositing Customers' monies and assets in trust or custody accounts; and
(iii) separately accounting for the monies and assets of each Customer;
(b) a Member shall comply with all segregation requirements under the Act and the Conduct of Business Regulations. Except as allowed under those Regulations, a Member is prohibited from depositing or co-mingling the Member's own monies and assets with its Customers' monies and assets. "Customer" as used in this Rule 3.3.10 does not include: (a) a director, officer, employee, Approved Trader or Registered Representative of the Member; or (b) a Related Corporation of the Member with respect to an account belonging to and maintained wholly for the benefit of that Related Corporation.