each customer separately from the account of its own, in accordance with the rules specified in the notification of the SEC. In cases where the derivatives business operator has advanced its own asset to
. The financial statements under the first paragraph shall be prepared under the criteria as specified in the notification of the SEC and shall be audited with an opinion rendered thereon by a certified
subcommittee to perform any matter as designated. The subcommittee under the first paragraph shall consist of a chairman and at least four other qualified members with the knowledge and expertise in relation to
not be a director, officer or employee of the securities company. The securities company shall publish its balance sheet and profit and loss account prepared in accordance with the first paragraph for
cases where a client wishes to use services relating to each type of the risky or complex capital market products for the first time, an intermediary shall examine the client’s investment knowledge in
and documents submitted or presented or the explanations to elaborate or clarify in accordance with the first paragraph shall be complete and accurate.
been a change in the necessary circumstances as provided in the first paragraph, the Minister upon the recommendation of the SEC may modify or change the conditions already specified.
of the Office. In issuing the notification in accordance with the first paragraph, the Office shall specify the following important matters: (1) capital fund, net total assets and business operation of
liquidator under the first paragraph shall be given prior approval from the Office. Expenses and remuneration arising from liquidation of any mutual fund shall be paid from the assets of that mutual fund.
representative office in the Kingdom shall obtain an approval from the Office. The representative under the first paragraph shall undertake only those businesses specified in the approval. The provisions of