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Settlement Policy for Designated/Watchlist/Small Cap Stocks

Please take note of the following requirement which will take immediate effect.

Client Position	Settlement Procedures
1) For purchases of counters made before Announcement of Designation ($30k)/ Watchlist ($50k)	Clients to settle the Excess Purchased Amount by Due Date + 1 Day. Otherwise, Credit Dept will sell the Excess Purchased Amount on Due Date + 2 Days.
2) For purchases of counters made in Violation of Designated ($30k) / Watchlist ($50k)/ Small Cap Stocks ($50k/$100k) Limits	a) Where there IS waiver for the Excess Purchased Amount : Clients to settle the FULL PURCHASED AMOUNT on Due Date + 1 Day. Otherwise, Credit Dept will sell the FULL PURCHASED AMOUNT on Due Date + 2 Days. b) Where there is NO waiver for the Excess Purchased Amount: Credit Dept will sell the FULL PURCHASED AMOUNT on TRADE DATE +2 Days.