Regulatory Alerts2010-01-01
Circular No. 6 of 2010 on Brokerage Execution of Bank Client Orders
The Authority mandates that brokerage firms suspend execution of bank-issued client orders until two verification steps are completed. Firms must obtain a bank acknowledgment detailing the client’s identity, authorized representatives, and transaction limits. Additionally, brokerages must confirm that the underlying trading contract permits stock exchange transactions and complies with anti-money laundering regulations.
Share