CmaBylaw
Executive Bylaws
1-42-2 Of Module Five: Securities Activities and Registered Persons
Section: Chapter One: Securities Activities
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Sunday, 05 February 2017
Qualified Securities Broker registered with an Exchange shall perform the following tasks: 1. Open accounts for clients and take all the necessary steps to obtain the whole and correct data which allows him to know the client 2. Receive and deposit funds and assets of the client in the omnibus account specific to the Qualified Securities Broker registered in the Exchange for the clients benefit from licensed parties from regulatory bodies in Kuwait3. Work under the supervision of a clearing agency for clearing and settlement issues as a result of clients trading transactions and risk management and reconciliation of records with related parties according to regulations approved by the Authority 4. Execute client’s instructions in using the funds and assets available from the account management
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