Discretionary trading without investor’s approval

Employees of a securities company are not entitled to trading of securities with consignment guarantee money unless they are entrusted by the customers or their agents for trading.

Provided that if there exists a written agreement of discretionary trading between the company and a customer and if the company is entrusted for trading by the customer, then the company is entitled to do trading on behalf of the customer but subject to the extent of only quantity, price and time of trading. However, the customer’s decision is still required for kind, issue, classification and method of trading in this case.