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(4) Without prejudice to subsection (3), a dealer shall keep records in sufficient detail to show separately particulars of all transactions by the dealer with, or for the account of
(a) clients of the dealer, excluding, where the dealer carries on business in partnership, the partners of the firm: (b) the dealer himself, or, where the dealer carries on
business in partnership, the partners of the firm;
(c) other dealers carrying on business in Hong Kong: (d) dealers outside Hong Kong: and
(e) employees of the dealer.
(5) A dealer shall retain-
(a) for a period of not less than 6 years, the records referred
to in subsection (1); and
(b) for a period of not less than 2 years-
(1) each contract note received by him or made out
to himself as principal; and
(ii) a copy of each contract note made out by him as agent.
(6) An entry in the accounting and other records of a dealer kept in accordance with this section shall be deemed to have been made by, or with the authority of the dealer.
(7) Where matter that is intended to be used in connexion with the keeping of a record referred to in this section is recorded or stored by means of a mechanical device, an electronic device, or any other device in an illegible form, a person who wilfully— (a) records or stores in that device matter that he knows to be false or misleading in a material particular;
(b) destroys, removes, or falsifies matter that is recorded
or stored in that device; or
(c) fails to record or store matter in that device with interi to falsify any entry made or intended to be compiled. wholly or in part, from that matter,
shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 6 months.
(8) For the purposes of this section, a record required to be kept by a dealer may be kept either by making entries in a bound book or by recording the relevant matters in any other
manner.
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(9) Where a record required by this section to be kept is not kept by making entries in a bound book but by some other means, the dealer shall take reasonable precautions for guarding against Calsification and for facilitating discovery of any falsi- fication.
(10) Notwithstanding any other provision of this section, a dealer shall not be deemed to have failed to keep a record referred to in subsection (1) by reason only that the record is kept as a part of, or in conjunction with, the records relating to any business other than dealing in securities that is carried on by him.
84. (1) A dealer shall establish and keep at a licensed bank Certain one or more trust accounts designated or evidenced as such into money which be shall pay→
received
by dealer to be paid into a trust
(6) all amounts (less brokerage and other proper charges)
which are received for or on account of any person account. (other than a stockbroker) from the sale of securities, except those amounts paid to that person or in accor- dance with his directions within 4 bank trading days after their receipt:
(b) all amounts (less any brokerage and other proper charges) which are received from or on account of any person (other than a stockbroker) for the purchase of securities, except those amounts attributable to the purchase of securities which are delivered to the dealer within 4 bank trading days after receipt of the amounts: and
(c) subject to any agreement to the contrary, all amounts derived by way of interest from the retention in a trust account of any amount mentioned in paragraph (2) or paragraph (5).
(2) All amounts required to be paid into a trust account under subsection (1) shall be retained there by the dealer until they are paid to the person on whose behalf they are being held or in accordance with his directions or, as the case may be. until they are required to complete payment in respect of the purchase of securities on behalf of any such person.
(3) Money required by this section to be paid into a trust accoum shall be so paid within 4 bank trading days after it is received by the dealer,
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