SGX Rulebooks
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12.12.1

A Trading Member must comply with Part III, Divisions 3 and 4 of the Securities and Futures (Licensing and Conduct of Business) Regulations on customer's assets. For the purpose of this Rule, "customer" includes a Remisier, unless otherwise specified.

Amended on 23 January 200923 January 2009.

12.12.2

Regulations 30, 33 and 34 of the Securities and Futures (Licensing and Conduct of Business) Regulations do not apply to a Remisier.

Amended on 23 January 200923 January 2009.

12.12.3

A Trading Member must designate the accounts maintained with a financial institution specified in Regulation 27 of the Securities and Futures (Licensing and Conduct of Business) Regulations for a customer or a Remisier as a trust account, or customer or Remisier account, as the case may be.

Amended on 23 January 200923 January 2009.

12.12.4

A Trading Member must deposit assets of its customers in a separate custody account from Remisiers.

Amended on 23 January 200923 January 2009.

12.12.5

A Trading Member must not commingle the assets of a customer or Remisier with its own assets.

12.12.6

A Trading Member must not withdraw a Remisier's assets from a custody account except to:—

(1) return the assets to the Remisier;
(2) use the assets to meet any amount due and payable by the Remisier to the Trading Member; or
(3) make a transfer or withdrawal that is authorised by law.

12.12.7

A Trading Member must notify the Remisier of the withdrawal under Rule 12.12.6 by the next business day.

12.12.8

For the purpose of this Rule, "Remisier's assets" means any securities and assets (other than money) that are beneficially owned by a Remisier.

12.12.9

This Rule shall not apply to a Trading Member that holds a licence specified in Rule 4.1.1(1)(b).

Added on 19 May 201419 May 2014.