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Reconciliation discrepancies - CASS Provision: Difference between revisions
Reconciliation discrepancies - CASS Provision (view source)
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{{fullanat|cass|7.15.29|}} | {{fullanat|cass|7.15.29|}} | ||
The equivalent to the shortfall provision under CASS 6, this relates to {{cassprov|reconciliation discrepancies}} in the {{t|client money}} record. | The equivalent to the {{cassprov|shortfall}} provision under CASS {{cassprov|6.6.54}}, this relates to {{cassprov|reconciliation discrepancies}} in the {{t|client money}} record. | ||
When a discrepancy arises between the amount of client money a firm holds and the amount it thinks it is meant to be holding it must figure out why and, subject to CASS 7.15.29AR, make sure that it tops up any shortfall into a client bank, or withdraws any excess. | When a discrepancy arises between the amount of client money a firm holds and the amount it thinks it is meant to be holding it must figure out why and, subject to CASS 7.15.29AR, make sure that it tops up any shortfall into a client bank, or withdraws any excess. | ||