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  • Reconciliation

    • CL-1.1.18

      An investment firm licensee must ensure that a system is implemented to perform reconciliations of both client bank accounts and eligible third party accounts in which client money is held. These reconciliations must be carried out on a regular basis, sufficient to ensure the accuracy of its records (but at a minimum, on a monthly basis as at the last business day of each calendar month).

    • CL-1.1.19

      An investment firm licensee must perform the reconciliations required under Rule CL-1.1.18 within 10 business days of the date to which the reconciliation relates.

      Amended: January 2007

    • CL-1.1.20

      An investment firm licensee must perform a reconciliation between the individual ledger balances and client bank accounts/third party balances.

      Amended: July 2008

    • CL-1.1.21

      In respect of reconciliation, the investment firm licensee must ensure that unresolved differences, shortfalls and excess balances are investigated and, where applicable, corrective action is taken as soon as is practicable.