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Status: You are viewing the version of the handbook as on 2009-03-31.

CASS Sch 2 Notification requirements

CASS Sch 2.1G

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Handbook reference

Matter to be notified

Contents of notification

Trigger event

Time allowed

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CASS 5.5.84 R2

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

As soon as the firm becomes aware2

Immediately2

CASS 5.5.84 R2

Inability to perform the calculation required by CASS 5.5.84 R2

Inability to perform the calculation2

Inability to perform the calculation2

Immediately2

CASS 5.5.84 R2

Inability to make good any shortfall identified by CASS 5.5.84 R2

Inability to make good any shortfall in client money2

Inability to make good any shortfall2

Immediately2

CASS 5.5.84 R2

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

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

4CASS 7.4.35 R

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 7.6.16R (1)3

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

CASS 7.6.16R (2)3

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

CASS 7A.3.19R (1)4

4

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

Firm becomes aware of the failure of the entity

As soon as the firm becomes aware

CASS 7A.3.19R (2)4

4

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