4.31.2
A Trading Member must comply with Part III, Divisions 3 and 4 of the SFR (Licensing and Conduct of Business) on customer's assets in respect of any assets received by the Trading Member to be held on account of a customer (including a Remisier), or as collateral for any amount owed by the customer (including a Remisier) to the Trading Member, save that Regulations 30, 33 and 34 of the SFR (Licensing and Conduct of Business) do not apply to a Remisier.
Added on 3 June 20193 June 2019.
4.31.3
A Trading Member must designate the accounts maintained with a financial institution specified in Regulation 27 of the SFR (Licensing and Conduct of Business) for a customer (other than a Remisier) or Remisier as a trust account, or customer (other than a Remsier) or Remisier account, as the case may be.
Added on 3 June 20193 June 2019.
4.31.4
A Trading Member must deposit assets of its customers (other than Remisiers) in a separate custody account from assets of its Remisiers.
Added on 3 June 20193 June 2019.
4.31.5
A Trading Member must not commingle the assets of a customer (including a Remisier) with its own assets.
Added on 3 June 20193 June 2019.
4.31.6
A Trading Member must not withdraw a Remisier's assets from a custody account except to:
Added on 3 June 20193 June 2019.
4.31.7
A Trading Member must notify the Remisier of any withdrawal under Rule 4.31.6 by the next Market Day.
Added on 3 June 20193 June 2019.