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  • Reporting of Fiduciary Assets and Liabilities

    • CL-1.3.4

      Unremitted insurance premiums held in the client money account, in accordance with Paragraph CL-2.2.4, and uncollected premiums from insureds must be recorded as fiduciary assets on the balance sheet of the insurance broker. Fiduciary assets must have an offsetting fiduciary liability representing the total remittances to be made to the insurance firm.

      April 2012