secondary pooling shortfall

164(in CASS 7A.3) the amount by which the client money held by a firm is:

1. (a) insufficient to satisfy the claims of the firm’s clients in respect of that money, or
2. (b) not immediately available to satisfy such claims,

in either case following the failure of a person at which client money of the firm had been held under CASS 7.13.3R(1) to CASS 7.13.3R(3) (Depositing client money) or CASS 7.14.2R (Client money held by a third party).