Malaysia legislation
Section 53
Section 53
(2)
All amounts required to be paid into a segregated account under subsection (1) shall be retained there by the dealer until they are paid to the client on whose behalf they are being held or in accordance with his directions or until they are required to complete payment in respect of the purchase or sale of futures contracts on behalf of such client.
ice with this uses to be any manner knows to be particular;
causes to be any manner ed, recorded conviction to iggit or to e year or to matter with part of the from that p, with an inner for the ensed bank, which he shall after their other properearing house are received in respect of except those ice with his payment into segregated segregated ained there it on whose ce with his nplete pay-of futures
(3)
Every dealer shall keep a record of—
(a)
all amounts paid into a segregated account kept by him specifying the clients on whose behalf the amounts are held and the dates on which they were paid into the account;
(b)
all withdrawals from the segregated account, the dates of such withdrawals, and the names of the clients on whose behalf the withdrawals are made; and
(c)
such other particulars as the Commissioner may require.
(4)
A dealer shall not apply or permit or suffer any monies or securities standing to the credit of his clients in a segregated account to be applied against the debits to his own trading account (which expression would include accounts of his partners, directors and employees) or for the benefit of trading accounts of any other client of the dealer.
(5)
Any dealer or any employee or agent of the dealer who—
(a)
without reasonable excuse, contravenes this section commits an offence and is liable on conviction to a fine not exceeding ten thousand ringgit or to imprisonment for a term not exceeding one year or to both;
(b)
in contravention of this section, embezzles, steals or otherwise converts to his own use or the use of another, any money or securities received by such person for the purpose of margining, guaranteeing or securing the trades or contracts of any client or accruing to such client as a result of such trades or contracts or otherwise was received from any client in connection with the business of trading in commodities futures contracts, commits an offence and is liable on conviction to a fine not exceeding twenty-five thousand ringgit or to imprisonment for a term not exceeding two years or to both: