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  • CRA-8.4 CRA-8.4 Reconciliation, Client Reporting and Record Keeping

    • Reconciliation

      • CRA-8.4.1

        A licensee must at least every calendar month:

        (a) [This Subparagraph was deleted in April 2023];
        (b) Reconcile all crypto-assets held by the licensee, or its appointed third party custodian, and reconcile the result to the records of the licensee;
        (c) Reconcile individual client balances with the licensee’s records of crypto-assets balances held in client accounts; and
        (d) Where the licensee discovers discrepancies after carrying out the above reconciliations, it must maintain a record of such discrepancies and the measures taken to remedy such discrepancies.
        Amended: April 2023
        Added: April 2019

    • Client Reporting

      • CRA-8.4.2

        [This Paragraph was deleted in April 2023].

        Deleted: April 2023
        Added: April 2019

      • CRA-8.4.3

        [This Paragraph was deleted in April 2023].

        Deleted: April 2023
        Added: April 2019

    • Record Keeping

      • CRA-8.4.4

        A licensee must ensure that proper records of the client's custody account which it holds or receives, or arranges for another to hold or receive, on behalf of the client, are made and retained for a period of ten years after the account is closed.

        Added: April 2019

      • CRA-8.4.5

        For the purpose of Paragraph CRA-8.4.4, the records must capture at a minimum the following details:

        (a) The name of the account;
        (b) The account number;
        (c) Type of account;
        (d) The location of the account;
        (e) Whether the account is currently open or closed;
        (f) Details of crypto-assets held and movements in each account; and
        (g) The date of opening and where applicable, closure.
        Amended: April 2023
        Added: April 2019