Brokerage Obligations to Open Individual Customer Accounts

Indonesian Capital Markets and Financial Institutions Supervisory Agency (Badan Pengawas Pasar Modal dan Lembaga keuangan- Bapepam LK) Circular Letter No. SE-01/BL/2012 (“Circular Letter”) on Opening Customer Bank Accounts was issued to clarify broker-dealers' responsibilities. The Circular Letter elaborates on obligations stated in Article 2 (a) point 1 of  Chairman of Bapepam LK Decree No. KEP-548/BL/2010 (“Decree”) and Paragraph 7 (b) point 2 (a) of Bapepam LK Regulation No. V.D.3 on Internal Controls in Securities Companies Acting as Broker-Dealers (V.D.3 Regulation).