Whole Section

  • 2.23 Notification of Reduction in Capital and Under-Segregation

    • 2.23.1

      Every Clearing Member shall:—

      2.23.1.1 except in the case of a Bank Clearing Member or a Remote Clearing Member, report to the Clearing House within 48 hours of occurrence of any reduction in excess of 20% in its financial resources or adjusted net head office funds, as the case may be, from the previously submitted financial statement; or
      2.23.1.2 except in the case of a Direct Clearing Member, immediately report to the Clearing House of any under-segregation of money, assets or properties margins as required under this Rules, the SFA and/or any applicable laws; or
      2.23.1.3 in the case of a Bank Clearing Member or a Remote Clearing Member, report to the Clearing House within 48 hours of occurrence of any reduction in excess of 20% in its regulatory capital from the previously submitted financial statement.

      Amended on 27 March 200627 March 2006, 10 August 200710 August 2007, 31 December 201331 December 2013 and 22 April 201922 April 2019.