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COB A5.11.1 Guidance

When performing the reconciliations, an Authorised Firm should:

a. include in the credit ledger balances:
i. unallocated Client Money;
ii. dividends received and interest earned and allocated;
iii. sale proceeds which have been received by the Authorised Firm and the Client has delivered the Investments or the Authorised Firm holds or controls the Investment; and
iv. Money paid by the Client in respect of a purchase where the Authorised Firm has not remitted the Money to the counterparty or delivered the Investment to the Client; and
b. deduct from the credit ledger balances:
i. Money owed by the client in respect of unpaid purchases by or for the Client if delivery of those Investments has been made to the Client; and
ii. Money remitted to the Client in respect of sales transactions by or for the Client if the Client has not delivered the Investments.
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]