A Trading Member must comply with Part III, Divisions 2 and 4 of the Securities and Futures (Licensing and Conduct of Business) Regulations on customer's money. For the purpose of this Rule, "customer" includes a Remisier, unless otherwise specified.

Amended on 23 January 200923 January 2009.

Regulation 16(1)(b) of the Securities and Futures (Licensing and Conduct of Business) Regulations does not apply to a Remisier. A Trading Member must deposit all money received on account of a Remisier in a trust account.

Amended on 23 January 200923 January 2009.

A Trading Member must designate the accounts maintained with a financial institution specified in Regulation 17 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.

A Trading Member must deposit money received on account of customers in a separate trust account from Remisiers.

Amended on 23 January 200923 January 2009.

A Trading Member must not commingle money received on account of its customers or its Remisiers with its own funds. However, a Trading Member may deposit its own funds into a trust account under the circumstances specified in Regulation 23(1) of the Securities and Futures (Licensing and Conduct of Business) Regulations.

Amended on 23 January 200923 January 2009.

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

A Trading Member must notify the Remisier of the withdrawal made under Rule 12.11.6 by the next business day.

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.