CA-3.1.3
Past version: Effective up to 30 Jun 2007
To view other versions open the versions tab on the right
Items that could be reduced or eliminated within a short period for the purposes of Rule CA-3.1.2 are:
(a) bonuses paid out of the relevant year's profits which have not been guaranteed;
(b) profit shares and other appropriations of profit, except for fixed or guaranteed remuneration which is payable even if the investment firm licensee makes a loss for the year;
(c) paid commissions shared, other than to employees, Directors, or appointed representatives of the investment firm licensee ;
(d) fees, brokerage and other charges paid to clearing houses, clearing firms, exchanges, and intermediate brokers for the purposes of executing, registering or clearing transactions;
(e) interest payable to counterparties; and
(f) interest payable on borrowings to finance the investment firm licensee's investment firm and associated firm.