The Securities and Commodities Authority (SCA) has issued a notification to all brokerage companies in the country banning them from getting incomplete sale/purchase orders signed by their clients.
The SCA has warned that brokerage firms as well as violators would be held criminally accountable in accordance with the provisions of the Penal Law.
"Pursuant to SCA's control and oversight role to protect investors' rights and interests, the SCA stresses that all companies currently dealing with securities should strictly abide by the requirements to complete all sale/purchase orders before obtaining the client's signature and at the same time not to obtain the client's signature on any incomplete orders that are void of the key information," said the SCA.
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