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Article NO. Content

Title:

Operating Rules for Securities Firms Handling Non-Restricted Purpose Loan  CH

Amended Date: 2017.11.27
Article 12     A securities firm that conducts non-restricted purpose loan business shall set up a separate account ledger for each client and record the matters listed below on a transaction-by-transaction basis:
  1. Matters regarding the loan, including financing purpose, financed amount, etc.
  2. Type of financing collateral.
  3. Collateral calls and disposal of collateral.
    A securities firm shall prepare and deliver to the client a monthly reconciliation statement based on the account ledger records of the preceding paragraph, provided that this requirement shall not apply where there is no record of any transaction in that month, and the client has not submitted a written request for such statement.