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Article NO. Content

Title:

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 4     Customers' settlement funds retained in a securities firm's Settlement Account shall be separate from and independent of the latter's own assets and may not be utilized for purposes other than paying monies due from customers.
    No creditor of a securities firm's liabilities in said firm's own assets may claim to attach or exercise other rights in customers' settlement funds retained in the securities firm's Settlement Account and the relevant investment objects.
    Customers' settlement funds retained in a securities firm's Settlement Account are account-specific trust assets held for the benefit of customers and shall be immediately returned to customers when the securities firm petitions for bankruptcy or commences liquidation.