Rules and Regulations Governing Dealing Members - The Nigerian ...

RULES AND REGULATIONS GOVERNING DEALING MEMBERSArticle 139:Observance of Rules and RegulationsDealing Member shall:(a)(b)(c)(d)Operate strictly within the provisions of the Investments and Securities Act 1999 and the Rules andRegulations made there under, the Rules and Regulations of The Nigerian Stock Exchange, theCentral Securities Clearing System practices, conventions, usages and other related statutoryregulations as may be applicable from time to time;Render regularly and promptly, quarterly Statements of Accounts and CSCS Statements to clients togive the true position of each Account;Not enter into any business relationship with a client premised on a guaranteed return to the client.Prohibition against GuaranteesNo Dealing Member shall guarantee, directly or indirectly, a customer against loss in any account orin any securities transaction executed by the Dealing Member for such customer, or previouslyagreed with the customer on a profit margin.(f)(g)Indemnify The Exchange against legal proceedings arising from Dealing Members professionalmisconduct;Not use the name of The Exchange or the privilege of membership of The Exchange in activities thathave no bearing with the activities of The Exchange.Article 140: Council's Decisions and DirectivesAll Dealing Members shall abide by all decisions, rulings and directives of Council and any other person orbody of persons authorized by Council in the lawful execution of its powers pursuant to the provisions ofthese Rules and Regulations.Article 141: General ConductA Dealing Member shall not do or cause to be done any act, matter or thing, which would adversely affectthe goodwill or public image of The Exchange or its Members.Article 142:A Dealing Member shall at all times act and procure or ensure that its Authorized Clerks and employees actin the best interest of its clients.