3. Maintenance of Books, Accounts and Reporting
| No: 44995/67 | Date(g): 23/3/2019 | Date(h): 17/7/1440 | Status: In-Force |
A. Bank-PDs will have to maintain separate books of accounts for transactions relating to PD business (distinct from transactions in securities on their own account) with necessary audit trails. It should be ensured that, at any point in time, Bank PDs observe the minimum DMO balance of Government Securities earmarked for PD market-making business.
B. Bank-PDs shall submit to their SAMA Team Leaders , an Annual Report on PD activities (with at least information on subscription activities, underwriting activities, primary and secondary markets turnover of the bank) by 15th of February the following year.
C. Bank-PDs should subject the PD transactions and any regulatory returns submitted to the DMO and SAMA to concurrent annual audit. An internal auditors' review report for having maintained the minimum stipulated balance of Government Securities in the PD-book on an ongoing basis and having adhered to these guidelines/ instructions issued by SAMA, should be undertaken and provided to SAMA upon request.