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Template:CASS Section 7.15.29: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{cassprov|7.15.29}} When a discrepancy arises between a firm's {{cassprov|client money}} resource and its client money requirement identified by a firm's internal client mone...") |
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{{cassprov|7.15.29}} When a discrepancy arises between a firm's {{cassprov|client money}} resource and its client money requirement identified by a firm's internal client money reconciliations, the firm must determine the reason for the discrepancy and, subject to CASS {{cassprov|7.15.29A}}R, ensure that: | {{cassprov|7.15.29}} '''{{cassprov|Reconciliation discrepancies}}''': When a discrepancy arises between a firm's {{cassprov|client money}} resource and its client money requirement identified by a firm's internal client money reconciliations, the firm must determine the reason for the discrepancy and, subject to CASS {{cassprov|7.15.29A}}R, ensure that: | ||
:(1) any shortfall is paid into a client bank account by the close of business on the day that the reconciliation is performed; or <br> | :(1) any shortfall is paid into a client bank account by the close of business on the day that the reconciliation is performed; or <br> | ||
:(2) any excess is withdrawn from a client bank account within the same time period. <br> | :(2) any excess is withdrawn from a client bank account within the same time period. <br> | ||