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  3. Point in time
    2024-11-06

shortfall

  1. (1) (in relation to cancellation of an investment agreement ) the amount a firm is entitled to charge a customer for the market loss in accordance with COBS 15.4.3 R.
  2. (2) (in relation to client money ) the amount by which the client money in a client bank account is insufficient to satisfy the claims of clients in respect of that money, or not immediately available to satisfy such claims.
  3. (3) (in relation to safe custody assets) any amount by which the safe custody assets held by a firm under the custody rules fall short of the firm's obligations to its clients to hold safe custody assets.