(NAR) VOL. 22 NO. 2, APRIL - JUNE 2011
“(1) Account opening process. x x x
“a.AS A GENERAL RULE, Client profiling shall be performed for all UIT Fund and regular trust, other fiduciary and investment management accounts via a duly acknowledged Client Suitability Assessment (CSA), which aims to provide the TE with information leading to the prudent design of investment packages, suited to a particular client or investment account. THE CSA, HOWEVER, SHALL NOT BE REQUIRED FOR THE FOLLOWING TRUST AND OTHER FIDUCIARY ACCOUNTS:
(I) COURT TRUST,
(II) LEGISLATED AND QUASI-JUDICIAL TRUST,
(III) TRUST UNDER INDENTURE,
(IV) FACILITY/LOAN AGENCY,
(V) TRANSFER AGENCY,
(VI) DEPOSITORY AND REORGANIZATION,
(VII) ESCROW,
(VIII) CUSTODIANSHIP,
(IX) SAFEKEEPING, AND
(X) INSTITUTIONAL TRUST - PRE-NEED PLANS.
The profiling process, to be documented through a CSA Form signed by the concerned parties, shall be undertaken on a per client basis, which shall emphasize the level of risk tolerance of the client.
x x x”