A Customer Account shall be identified and designated by the full name of the Customer and an account code. Prior to opening a Customer Account, a Member shall satisfy itself that it has:
(a) obtained key particulars relating to the Customer (and any person authorised to trade for the Customer);
(b) verified the identity of the Customer and that the Customer has requisite authority to open the account; and
(c) understood the Customer's risk appetite and investment objectives,
in a manner consistent with industry best practices on know-your-customer requirements.
Refer to Regulatory Notice 3.3.1.