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RM-6.1.2

Rule RM-6.1.1 requires a one-off approval, before undertaking derivatives activity, rather than approval for each such transaction. With the complexity of derivatives products and the size and rapidity of transactions, it is essential that licensees capture all relevant details of transactions, identify errors and process payments or move assets quickly and accurately. This requires a staff of sufficient size, knowledge and experience to support the volume and type of transactions.

Adopted: July 2007