Stock brokers must not run unauthorised investment schemes, promise fixed returns, or accept client cash deposits. Regulation 20 requires that a stock broker refrain from activities promising indicative, guaranteed, fixed or periodic returns not permitted by ... Summary
Stock brokers must not run unauthorised investment schemes, promise fixed returns, or accept client cash deposits.
Regulation 20 requires that a stock broker refrain from activities promising indicative, guaranteed, fixed or periodic returns not permitted by Regulations or exchange rules; operating unauthorised collective investment schemes or portfolio management services; engaging in activities disallowed under the Securities Contracts (Regulation) Rules; and accepting cash from clients directly or via cash deposits to the broker's bank account.
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