المادة 4: Information Required in the Investment Account Opening Agreement

Article 4: Information Required in the Investment Account Opening Agreement

In addition to the terms of business with clients’ requirements mentioned in the Capital Market Institutions Regulations, the investment account opening agreement must include, as a minimum, the following:

a) Information of the client's Identification Document, address, contact information, occupation and, if the client is a legal person, its main business activity.

b) An acknowledgment by the client that he understands the terms and conditions of the investment account opening agreement, and that all data and information provided to the capital market institution are correct, complete, valid and not misleading.

c) An undertaking by the client of his commitment to update his data and information or confirm, upon the capital market institution's request, that there are no changes to such data and information at the end of the relevant time period specified by the capital market institution pursuant to the rules and policies approved by the capital market institution in accordance with the level of risks associated with the client; and the client’s commitment to provide information of his renewed Identification Documents upon the expiration of the original Identification Documents. The client shall provide an acknowledgment of his awareness that the capital market institution will freeze his investment account upon his failure to meet such commitment, and also provide an undertaking to adhere to the Capital Market Law and its Implementing Regulations, and other laws and regulations of the Kingdom, especially the Anti-Money Laundering Law and its Implementing Regulations, and the Combating-Terrorism Crimes and its Financing Law and its Implementing Regulations.

d) Unless the company is listed on an exchange, the investment account opening agreement signed with any company must include an undertaking to immediately notify the capital market institution upon any change to any of the documents, information or data that were previously provided when opening the investment account.