CmaBylaw
Executive Bylaws
2-2 Of Module Six: Policies & Procedures of Licensed Persons
Section: Chapter Two: Manual of Policies and Procedures of Licensed Persons
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Wednesday, 08 November 2017
Without prejudice to Article (2-1) of this Module, the policies and procedures of implementing and managing business operations for Custodians shall include – in particular – the following: 1. Procedures followed for keeping records and accounts which include distinguishing the Client’s Assets and Funds from the ones of another Client, or the ones of the Licensed Person to ensure compliance with the provisions of Chapter Two, in particular Article (2-3) and Article (3-1) of Chapter Three of Module Seven (Clients’ Funds and Clients’ Assets) of these Bylaws, and the means of defining the keeping entity, and the value and ownership of the Client’s assets at all times. 2. Procedures followed by the Licensed Person to ensure the conformity of the Client’s accounts and records with the bank accounts of the Client’s Funds, as well as the records of any other party that keeps the Client’s Assets and Funds. 3. The method of delivery of reports notifications and notices, whether written to be delivered by courier or mail, or through fax or E-mail or any other modern communication mechanism. 4. Receiving and executing Client’s orders, and determining whether that will be in writing or through recorded phone calls or E-mail or any other modern communication mechanism. 5. Evidence of separating the tasks performed by operational departments of the Licensed Person, and the departments that offer any other services to the Client.
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