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CL-1.2.2

If a safe custody investment belonging to a retail client is used for stock lending activity, the investment firm licensee must ensure that:

(a) Relevant collateral is provided by the borrower in favour of the client;
(b) The current realisable value of the safe custody financial instrument and of the relevant collateral is monitored daily; and
(c) The investment firm licensee provides relevant collateral to make up the difference where the current realisable value of the collateral falls below that of the safe custody financial instrument, unless otherwise agreed in writing by the client.
Amended: January 2007