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Article 14
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A securities firm that retains funds in the Settlement Account with customers' consent shall set up a separate account ledger for each customer and record therein the following for each item on a daily basis:
- Transfers of sources of the customer's funds to such account
- Transfers of interest and profit and loss incurred from funds in the customer's ledger
- Transfers for the customer of monies payable by the customer
- Transfers of funds reclaimed by the customer
- Transfers of funds in the event of premature termination of the contract by the securities firm or customer
The securities firm shall retain records of receipts and payments of the above-mentioned funds and the relevant supporting documents, and prepare and send to the customer on a monthly basis a statement for reconciliation according to the detailed daily account entries.
The securities firm shall disclose the utilization of funds in the Settlement Account to the customer on a monthly basis and fully disclose in the financial reports the funds in the Settlement Account and their utilization (including information such as the overall balance of the securities firm's Settlement Account, objects invested in with the funds and amounts utilized for such investments, market values of the objects, and investment profits and losses, etc.).
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