a transaction involving a client account or deposit

1 Customers purchase of securities, settlement of securities trading or customers withdrawal

The designated commercial bank shall sign a customer trading settlement funds custody contract with the securities firm and its customer, setting forth matters such as the deposit and withdrawal, transfer and enquiries of the trading settlement funds, and shall open a general account of customer trading settlement funds for the securities firm according to the requirements of net amount settlement and delivery versus payment of securities trading.

(4) Where any securities broker accepts entrustments of clients to handle such issues as securities subscription and trading.

The designated commercial bank shall ensure that the customer can enquire at any time about the balance and changes of the customer s trading settlement funds.

(1) Using trading settlement funds of its clients in violation of provisions

3 Engage in unnecessary securities trade by using customer s assets

(11) Where a securities firm does not deposit or manage trading settlement funds, trust funds and funds and securities in secured accounts of clients according to provisions

Securities account opened by the securities firm for securities assets management customer should be submitted to stock exchange for filing within 3 trading days.

According to these Rules, commercial banks are obliged to provide the State Tax Committee with information about their clients' transactions amounting, in the case of legal entities, to more than 1,000 times and, in the case of private entrepreneurs, to more than 500 times the minimum wage.

Securities brokers shall not handle securities subscription or trading for customers.

2 Customers payment of commission, expenses or taxes related to the securities trading

The deposit given by the customer, all the securities that have been purchased through securities lending and borrowing, and all the funds from the sales of securities are collaterals to the securities firm, and shall be deposit to the customer securities guarantee account or the customer funds guarantee account and credited to the customer s credit granting account.

The staff of the persons submitting the reports who provide services to the customers, in case of qualifying the transaction (deal) as suspicious, shall be notified about the fact that the Authorized Body is informed about the given customer.

In addition, the exercise of due diligence with customers and financial transactions, as well as established procedures to report suspicious transactions, are also important.

Client Submit Time

Banks must develop policies and procedures in areas such as customer acceptance, customer identification, ongoing transactions monitoring and risk management.

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The law also requires the identification of the persons whenever the financial institutions have reasons to believe that a suspicious transaction involving money laundering is being executed or when there is reason to suspect that the identification procedures are being circumvented by the client or prospective client.

(3) Where a securities firm does not report its security self operation accounts or portfolio accounts of its clients to a security exchange for file according to provisions

Cash dealers are obliged to identify their customers, maintain records of customer identification and customer account activity for at least seven years after the account is closed, and to report to the FIU significant cash transactions (over 7,000), suspect transactions, and funds transfer instructions into or out of the country.

Other than for the debts of the customers themselves or for other circumstances stipulated by the law, no units or individuals can apply to seal up, freeze or enforce the customer s trading settlement funds and trusted funds.

(3) Where a securities firm, an asset management agency, a securities registration and clearing agency use trading settlement funds, trust funds and funds and securities in secured accounts of clients in violation of provisions

Take reasonable measures to obtain information about the true identity of the persons on whose behalf an account is opened or a transaction is conducted if there are any doubts as to whether or not these clients or customers are acting on their own behalf.

Article 57 Where a securities firm carries out securities brokerage business, its customer s trading settlement funds shall be deposit in the designated commercial bank, and shall be managed separately in the name of each customer.

d) The customer does not provide the person submitting the reports with the explanations and clarifications acceptable for the latter about legal implications of the given transaction.

Article 30 Before the securities firm signs securities dealing entrustment, securities assets management, capital and securities financing contracts with customers, it should appoint specialist to introduce business rule and contract content to customers and let customer sign and confirm on risk disclosure letter.

Transactions by Account

Article 80 Where a securities firm entices its clients to conduct unnecessary security trading or uses assets of its clients to take unnecessary security trading in its dealing with portfolio management business, it shall be punished according to the provisions prescribed in Article 210 of the Securities Law of the People s Republic of China.

Article 60 Except for the following circumstances, customer s trading settlement funds or trusted funds shall not be used

Article 48 Securities lending and borrowing referred to in this article means that in the securities trading at the stock exchange or other securities trading places that have been approved by the State Council, securities firms lend capital or securities to customers for them to buy or sell securities based on the corresponding collaterals provided by the customers.

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(2) Approving and executing applications and instructions which use trust funds and assets and securities in secured accounts of clients in violation of provisions

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(iii) Keeping of photocopies of documentation pertaining to the operation as a whole and official documents ascertaining client identity for five years as of the date of the operation or the closing of the account

Customer identification and knowledge of the customers

A prevention mechanism to meet the requirements of client oversight and identification, monitoring of transactions and record keeping

(3) Failing to report to the securities regulatory agency of the State Council when it finds trading settlement funds of its clients are used illegally.

(1) Status of the delivery of the transaction assets or the transfer of ownership

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Suspicious transaction reports are important as a means of ensuring customer due diligence in identifying potential money laundering activities.

Such a possibility did not exist for certification authorities, which were normally unaware of the terms of the transactions carried out by their clients.

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