Article 9: Transactions on the Investment Account

Article 9: Transactions on the Investment Account

a) The capital market institution must not enable his client to buy securities unless the purchase is made from the client's investment account balance.

b) The capital market institution, in respect of the investment account, must ensure his compliance with the provisions related to clients' money and assets stated in the Capital Market Institutions Regulations.

c) The capital market institution must not accept any cash amounts from the client or from a third party for the benefit of the client for investment purposes or in exchange for a services provided by the capital market institution, and the capital market institution must not deliver to the client or any third party any cash amounts from the investment account.

d) The capital market institution must not enable money transfer transactions from an investment account of a client to an investment account of another client unless the transfer transaction is upon any of the following:

1) Instructions of the competent entity or judicial authority through the Authority.

2) Any other case approved by the Authority.

e) The client’s investment account must be linked to one or more bank accounts in the client’s name. Any outgoing transfer of money must not be accepted unless it is to one of those bank accounts, with the exception of the following:

1) Transfers related to the amounts due from the client.

2) Transfers made for the purpose of liquidating the investment account for the benefit of the heirs of the deceased client.

3) Transfers made between the minor and his guardian.

4) Any other case approved by the Authority.