Common use of Summary of Prescribed Limits and Reporting Clause in Contracts

Summary of Prescribed Limits and Reporting. Level applicable to client’s accounts Certain prescribed limits and reporting level set by the Securities and Futures Commission ("SFC") under the Securities and Futures (Contracts Limits and Reportable Positions) Rules ("the Rules") made pursuant to Section 35 (1) of the Securities and Futures Ordinance will directly affect my/our Account(s) – these are summarized below. I/We understand and acknowledge that failure to comply with such limits or to report may constitute a criminal offence under the Securities and Futures Ordinance and the Rules.