CmaBylaw
Executive Bylaws
6-2 Licensed Persons’ Operational Requirements and Controls Of Module Seven: Clients’ Funds and Clients’ Assets
Section: Chapter Six: A Qualified Securities Broker Registered in the Exchange
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Sunday, 05 February 2017
In executing a Client’s transactions, a Licensed Person shall abide by the mechanisms stipulated in the contract between the two parties and in addition shall comply with the following: 1. Secure the Client’s interest when transmitting the Client’s orders to another entity for execution. 2. Not to combine orders received from one Client with those of any other Client. 3. To execute the Client’s orders for Securities sales or purchases without interfering directly or indirectly in the Client’s decision concerning the same. 4. To abide by the tools and mechanisms approved by the Exchange and the Clearing Agency when executing relevant transactions. 5. Not to execute a Client’s order until verifying that the Client can fulfil its obligations within the specified time for settlement. 6. he shall commit to execute the client’s settlement of the transactions in accordance with the regulations set out by the Authority. 7. Licensed Person shall not use the funds and assets of a client for the benefit of another. 8. Keep safe documents relating to sale and purchase transactions performed by the Client.
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