4.30.2
A Trading Member must comply with Part III, Divisions 2 and 4 of the SFR (Licensing and Conduct of Business) on customer's monies in respect of any money received by the Trading Member on account of any customer (including a Remisier) save that Regulation 16(1)(b) of the SFR (Licensing and Conduct of Business) does not apply to a Remisier and a Trading Member must deposit all money received on account of a Remisier in a trust account.
Added on 3 June 20193 June 2019.
4.30.3
A Trading Member must designate the accounts maintained with a financial institution specified in Regulation 17 of the SFR (Licensing and Conduct of Business) for a customer (other than a Remisier) or a Remisier as a trust account, or as a customer (other than a Remisier) or Remisier account, as the case may be.
Added on 3 June 20193 June 2019.
4.30.4
A Trading Member must deposit money received on account of its customers (other than Remisiers) in a separate trust account from money received on account of its Remisiers.
Added on 3 June 20193 June 2019.
4.30.5
A Trading Member must not commingle money received on account of its customers (including 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 SFR (Licensing and Conduct of Business).
Added on 3 June 20193 June 2019.
4.30.6
A Trading Member must not withdraw a Remisier's money from a trust account except to:
Added on 3 June 20193 June 2019.
4.30.7
A Trading Member must notify the Remisier of any withdrawal under Rule 4.30.6 by the next Market Day.
Added on 3 June 20193 June 2019.