Before opening a corporate customer account on its books, 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 corporate customer account with the Trading Member and empowering specific directors and officers to:—
(i) trade in securities or futures contracts for the corporate customer account; and
(ii) execute all documentation for trading and settlement in the corporate customer account;
(b) a power of attorney (in English) certified by a notary public, authorising identified persons to open a corporate customer account and trade on behalf of the corporate customer; or
(c) note in writing the basis upon which it believes the corporate customer may open the corporate customer account and engage in transactions and that the persons acting for the corporate customer have been duly authorised to trade on the corporate customer's behalf.
Refer to Practice Note 12.3.1, 12.3.2.
Amended on 3 April 20083 April 2008, 1 July 20161 July 2016 and 8 October 20188 October 2018.