【法规名称】
【法规编号】 82439 什么是编号？
【正 文】
第3页 CAP 571H SECURITIES AND FUTURES (CLIENT SECURITIES) RULES
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[接上页] (c) directs the intermediary or associated entity to deal with the client securities or securities collateral in a particular manner; and (d) ceases to have effect after the client securities or securities collateral to which it relates have been dealt with by the intermediary or associated entity in the manner directed. Cap 571H s 7 Treatment of client securities and securities collateral by intermediaries licensed or registered for dealing in securities and their associated entities Division 2-Particular rules (1) This section applies to- (a) an intermediary licensed or registered for dealing in securities; and (b) an associated entity of such intermediary.(2) With a standing authority, an intermediary or an associated entity to which this section applies may- (a) apply any of the client securities or securities collateral in question pursuant to a securities borrowing and lending agreement; (b) deposit any of the securities collateral in question with an authorized financial institution as collateral for financial accommodation provided to the intermediary; or (c) deposit any of the securities collateral in question with- (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of the intermediary's settlement obligations and liabilities.(3) Where an intermediary to which this section applies- (a) provides financial accommodation to a client of the intermediary in the course of dealing in securities; and (b) also provides financial accommodation to the client in the course of any other regulated activity for which the intermediary is licensed or registered,the intermediary or an associated entity of the intermediary may apply or deposit any of the securities collateral in question in accordance with subsection (2) with a standing authority. Cap 571H s 8 Treatment of securities collateral by intermediaries licensed for securities margin financing and their associated entities (1) This section applies to- (a) an intermediary licensed for securities margin financing; and (b) an associated entity of such intermediary.(2) With a standing authority, an intermediary or an associated entity to which this section applies may deposit any of the securities collateral in question with- (a) an authorized financial institution; or (b) an intermediary licensed for dealing in securities,as collateral for financial accommodation provided to the intermediary. Cap 571H s 9 Treatment of securities collateral by intermediaries licensed or registered for dealing in futures contracts and their associated entities (1) This section applies to- (a) an intermediary licensed or registered for dealing in futures contracts; and (b) an associated entity of such intermediary.(2) Without prejudice to section 7(3), with a standing authority, an intermediary or an associated entity to which this section applies may deposit any of the securities collateral in question with- (a) a recognized clearing house; or (b) another intermediary licensed or registered for dealing in futures contracts,as collateral for the discharge and satisfaction of the intermediary's settlement obligations and liabilities. Cap 571H s 10 Limitations on the treatment of client securities and securities collateral PART 3 MISCELLANEOUS (1) An intermediary or an associated entity of an intermediary must take reasonable steps to ensure that client securities and securities collateral of the intermediary are not- (a) deposited; (b) transferred; (c) lent; (d) pledged; (e) repledged; or (f) otherwise dealt with,except as provided in Part 2. (2) Subsection (1) does not require the intermediary or associated entity in question to ensure that the client securities or securities collateral in question are not- (a) deposited; (b) transferred; (c) lent; (d) pledged; (e) repledged; or (f) otherwise dealt with,by a person to whom the intermediary or associated entity has lent or with whom the intermediary or associated entity has deposited any of the client securities or securities collateral in accordance with Part 2. Cap 571H s 11 Approval of custodians for safe custody of client securities and securities collateral The Commission may approve, by notice in writing and subject to such conditions as the Commission considers appropriate, any company or overseas company as being suitable for the safe custody of client securities and securities collateral of an intermediary. Cap 571H s 12 Reporting of non-compliance with certain provisions of the Rules If an intermediary or an associated entity of an intermediary to which section 4(4), 5 or 10(1) applies becomes aware that it does not comply with such section, it shall give written notice of that fact to the Commission within one business day thereafter. Cap 571H s 13 Penalties (1) An intermediary, or an associated entity of an intermediary, which, without reasonable excuse, contravenes section 4(4) or 12 commits an offence and is liable on conviction to a fine at level 3. |
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