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  • Reconciliation

    • MIR-4.7.18

      A member must ensure that a system is implemented to perform reconciliations of both client securities account and client bank accounts after each transaction is executed for the benefit of that particular client. In addition, these reconciliations must be carried out on a regular basis, sufficient to ensure the accuracy of its records at least once a month on the last business day of each calendar month.

      Adopted January 2010

    • MIR-4.7.19

      A member must perform the reconciliations required under rule MIR-4.7.18 within 10 calendar days from the end of each month.

      Adopted January 2010

    • MIR-4.7.20

      In respect of reconciliation, the member must ensure that unresolved differences, shortfalls and excess balances are investigated and, where applicable, corrective action is taken as soon as is practicable. In such cases, the member must confirm such corrective action to the related clients and other counterparty's broker-dealers (if required).

      Amended: April 2013
      Adopted January 2010