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CL-2.3.2

An investment firm licensee must, as often as is necessary, but no less than every six months (or twice in a period of twelve months but at least five months apart), carry out:

(a) A count of all safe custody financial instruments it physically holds on behalf of clients and reconcile the result of that count with its record of safe custody financial instruments that it physically holds on behalf of its clients; and
(b) A reconciliation between the investment firm licensee's record of client holdings, and the firm's record of the location of safe custody financial instruments.
Amended: January 2007