The explanation of the articles 24、29 and 30 of the Regulations Governing Internal Operating Systems and Procedures for Banks Conducting Financial Derivatives Business, key points are as follows:
1. For the Article 24, a bank shall review the customer’s attributes and classifications resulted, and to reassess the results at least once every year, and shall ask the customer to confirm the results. The Article is principally applied to every customer, including new customers and existing customers.
2. For the Article 29, the bank should have a person to process the evaluation of customer’s attributes, the qualification requirements of the person should at least equal to or higher than the qualification requirements for the operations and relevant managing personnel handling the works of recommending financial derivatives, which is addressed in Article 19.
3. For the Article 24、29 and 30, the bank shall save the process record by audio- or video-recording or using electronic equipment for all the customers, including new customers and existing customers.
Visitor： 301 Update： 2019-10-22