Recordkeeping requirement: brokers must retain verifiable client order evidence and record telephone instructions to prevent unauthorised trades. Brokers must execute client trades only after retaining legally verifiable evidence of the client's instruction - such as a signed physical record, telephone recording, authorised email, internet transaction log, SMS record or other verifiable record - and bear the burden of producing such evidence in disputes; telephone instructions must be recorded and maintained, exchanges must disseminate and amend bye laws for uniform implementation and report on compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Recordkeeping requirement: brokers must retain verifiable client order evidence and record telephone instructions to prevent unauthorised trades.
Brokers must execute client trades only after retaining legally verifiable evidence of the client's instruction - such as a signed physical record, telephone recording, authorised email, internet transaction log, SMS record or other verifiable record - and bear the burden of producing such evidence in disputes; telephone instructions must be recorded and maintained, exchanges must disseminate and amend bye laws for uniform implementation and report on compliance.
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