CASS Sch 2 Notification requirements
Handbook reference |
Matter to be notified |
Contents of notification |
Trigger event |
Time allowed |
Non-compliance with reconciliation requirements in CASS 2.6.2 R, CASS 2.6.4 R, CASS 2.6.6 R, CASS 2.6.8 R, CASS 2.6.10 R |
Reason for Non-compliance |
Non-compliance |
Immediately |
|
Non-compliance of reconciliation requirements in CASS 2.6.11 R |
Reason for Non-compliance once reconciliation carried out |
Non-compliance |
Immediately |
|
Failure of a third party with which money is held — ie: bank, intermediate broker, settlement agent or OTC counterparty or other entity with which it has placed or to which it has passed client money |
Full details |
When firm becomes aware of the failure of the entity |
Immediately |
|
Failure of a third party with which money is held — ie: bank, intermediate broker, settlement agent or OTC counterparty or other entity with which it has placed or to which it has passed client money |
Intentions regarding making good any shortfall that has arisen or may arise, and of the amounts involved |
Failure of third party with which money is held |
As soon as reasonably practical |
|
Daily calculation required by CASS 4.3.66 R or CASS 4.3.67 R |
Inability to perform daily calculation |
Inability to perform daily calculation |
Immediately |
|
Daily calculation required by CASS 4.3.66 R or CASS 4.3.67 R |
Inability to make good any shortfall identified by daily calculation |
Inability to make good any shortfall identified by close of business on the day of calculation |
Immediately |
|
Requirements detailed in CASS 4.3.89 R, CASS 4.3.91 R, CASS 4.3.92 R, CASS 4.3.94 R and CASS 4.3.95 R. |
Inability to comply with any of the requirements |
Inability to comply with any of the requirements |
As soon as possible |
|
LME bond arrangements |
Issue of an individual letter of credit issued by the firm |
Upon issue of an individual letter of credit under an LME bond arrangement |
Immediately |
|
CASS 4.4.33 R (see CASS 4.3.64 R) |
Failure of a third party with which money is held — ie: bank, intermediate broker, settlement agent or OTC counterparty or other entity with which it has placed or to which it has passed client money |
Full details |
When the firm becomes aware of the failure of the entity |
Immediately |
CASS 4.4.33 R (see CASS 4.3.64 R) |
Failure of a third party with which money is held — i.e. bank, intermediate broker, settlement agent or OTC counterparty |
Intentions regarding making good any shortfall that has arisen or may arise, and of the amounts involved |
Upon first delegation of regulated activity |
As soon as reasonably practical |
Failure of bank, broker or settlement agent2 |
Full details including whether it intends to make good any shortfall that may have arisen in the amounts involved2 |
Immediately2 |
2
||
Inability to perform the calculation required by CASS 5.5.84 R2 |
Inability to perform the calculation2 |
Inability to perform the calculation2 |
Immediately2 |
2
|
Inability to make good any shortfall identified by CASS 5.5.84 R2 |
Inability to make good any shortfall in client money2 |
Immediately2 |
2
||
Inability to comply with the requirements in CASS 5.5.84 R; CASS 5.5.84 R; CASS 5.5.84 R; CASS 5.5.84 R; CASS 5.5.84 R2 |
Inability to comply with the requirements of the rules listed2 |
Inability to comply with the requirements of the rules listed2 |
As soon as reasonably practicable2 |
2