Template:Inadvertent use: Difference between revisions

Template:Inadvertent use (view source)

79 bytes removed , 12 March 2018

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-===Settlement fails and [[Shortfall - CASS Provision|shortfalls]] and [[express prior consent]]===
 ''Warning: tedious passage approaching''<br>
-The [[Jolly Contrarian]]’s view is that [[Shortfall - CASS Provision|shortfall]]s arising through settlement failures in an omnibus account are covered by CASS {{cassprov|6.6.54}} and not the “omnibus use” in {{cassprov|6.4.1}}(2) and therefore do not require a client’s [[express prior consent]]:
+The [[Jolly Contrarian]]’s view is that [[Shortfall - CASS Provision|shortfall]]s arising through settlement failures into an [[omnibus account]] are covered by CASS {{cassprov|6.6.54}} and are not an example of “omnibus use” in {{cassprov|6.4.1}}(2) and therefore do not require a client’s [[express prior consent]]:
 *[[Shortfall - CASS Provision|Shortfall]]s arising as a result of inbound settlement failures are not in the nature of deliberate, or even really “inadvertent” use of [[client assets]]: They are {{cassprov|shortfall}}s arising as a result of complying with client instructions on their own assets, and are covered by the [[Shortfall - CASS Provision|Shortfalls]] language introduced after PS14/9 by CASS {{cassprov|6.6.54}} R.
 *As {{cassprov|shortfall}}s, they have been subject to comprehensive review (PS14/9) and detailed specific provisions (CASS {{cassprov|6.6.54}}R) which do not require [[prior express consent]].