Approval of Customer Accounts

(a) At least one member of senior management or delegate staff (whether of the Trading Member or the Trading Member's related corporation or otherwise) independent of the Trading Member's sales or dealing, must approve the opening of a customer account carried on the books of the Trading Member.
(b) The approval must:
(i) be given before the execution of the first trade for the customer;
(ii) be in writing (which includes secured electronic record); and
(iii) form part of the permanent records of the Trading Member.

Added on 3 June 20193 June 2019.