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 possible4 |
|
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
|
3CASS 6.5.13R (1) |
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 6.5.1 R (Records and accounts), CASS 6.5.2 R (Records and accounts, including internal reconciliations) or (Reconciliations with external records) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay |
3CASS 6.5.13R (2) |
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 6.5.10 R (Reconciliation discrepancies) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay |
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 7.6.1R (Records and accounts), CASS 7.6.2R (Records and accounts, including internal reconciliations) or CASS 7.6.9R (Reconciliations with external records) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay |
|
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 7.6.13R to CASS 7.6.15R (Reconciliation discrepancies) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay |
|
Failure of a third party with which money is held – i.e.: 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 |
As soon as the firm becomes aware |
||
Failure of a third party with which money is held – i.e.: 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 client money is held |
As soon as reasonably practical |