A discretionary account agreement must:
define the extent of the discretionary authority given to the Dealer Member by the client,
include any restrictions on the discretionary authority,
- have a maximum term of no longer than 12 months,
- not be renewable, and
- set out the terms of termination in accordance with subsection 3274(2).
- A discretionary account agreement may only be terminated by written notice:
- by the client, effective when received by the Dealer Member, except for orders entered prior to receipt of the notice, or
- by the Dealer Member, effective not less than 30 days from the date the Dealer Member delivered the notice to the client.