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Article NO. Content


Guidelines Governing the Creation of Customer Ledgers of Securities Firms' Settlement Accounts  CH

Amended Date: 2020.05.27 (Articles 2, 12, 15, 22 amended,English version coming soon)
Current English version amended on 2017.12.25 
Categories: Market Supervision > Regulation of Securities Firms
Article 10     A securities firm that retains funds in the Settlement Account with customers' consent may charge a management fee from customers at a rate to be determined by it with the customers.
    The ownership of bank interest that is incurred from funds retained in the Settlement Account with customers' consent is expressly set out in the contract for the retention of customers' funds in the Settlement Account. The securities firm shall withhold taxes and issue withholding statements according to the Income Tax Act and applicable provisions with the customers as the taxpayer, in the year in which the income occurs.