Securities and Futures (Client Money) Rules
Quiz
True
False
1.
These Rules apply to client money that is received or held by a licensed
corporation in the course of the conduct of any regulated activity for which
it is licensed.
[ 3 ] [ ]
2.
These Rules apply to client money that is received or held by an associated
entity of a licensed corporation in relation to the conduct of the regulated
activity of the licensed corporation.
[ 3 ] [ ]
3.
These Rules do not apply to client money received overseas.
[ 3 ] [ ]
4.
Client money that will be applied to meet settlement or margin requirements
within the following 2 business days needs not be segregated.
[ 3 ] [ ]
5.
Pursuant to a client standing authority, a licensed corporation (“A”) can pay
client money into a segregated account of its group company which is also a
licensed corporation (“B”), for the latter to hold on behalf of the client.
[ 3 ] [ ]
6.
Client cannot instruct (whether by way of written direction or standing
authority) a licensed corporation to pay client money to his/her account
executive.
[ 3 ] [ ]
7.
Client cannot instruct by way of written direction a licensed corporation to
pay client money to the licensed corporation itself or other persons.
[ ]
[ 3 ]
8.
Client can authorize by way of standing authority a licensed corporation to
keep client money in a non-segregated account maintained by the licensed
corporation in Hong Kong.
[ ]
[ 3 ]
9.
A licensed corporation needs to obtain the written direction or standing
authority of a client in order to deposit the client money into a bank account
opened in the own name of the client.
[ ]
[ 3 ]
10.
A licensed corporation must first obtain the written direction or standing
authority of a client before it can pay the client money out of a segregated
account in order to meet the client’s obligations to meet settlement or
margin requirements or settle charges imposed by the licensed corporation
or its associated