27. Verification of money and assets placed with approved clearing house
Feedback & supportAn approved clearing house shall, in respect of each financial year of the approved clearing house, cause its auditors to submit to the Authority —
a report covering the first 6 months of the financial year, before the end of the seventh month of the financial year (or at such other time as the Authority may require); and
a report covering the last 6 months of the financial year, before the end of the first month of the next financial year (or at such other time as the Authority may require).
The approved clearing house shall ensure that each report referred to in paragraph (1) does, in respect of the period covered by the report —
certify whether the money and assets deposited with or paid to the approved clearing house by a member of the approved clearing house under regulation 23(3), for or in relation to a contract of a customer of the member —
are segregated from any other money and assets deposited by the member with the approved clearing house;
are deposited in a trust account or custody account in accordance with regulation 23(3)(b), and are not commingled with the money and assets of the approved clearing house; and
are used only as permitted under or in accordance with regulation 24 or 25; and
certify whether the money and assets deposited with or paid to the approved clearing house by a member of the approved clearing house under regulation 23(2), for or in relation to a contract of a customer of the member —
are recorded in books separate from the books for the money or assets deposited or paid for or in relation to the contracts of other customers of the member;
are segregated from any other money and assets deposited by the member with the approved clearing house;
are deposited in a trust account or custody account in accordance with regulation 23(2)(b), and are not commingled with the money and assets of the approved clearing house; and
are used only as permitted under or in accordance with regulation 24 or 25; and
set out the amount, on an aggregated basis, of all money and assets deposited by the member with the approved clearing house —
for or in relation to each contract of a customer of the member; and
for or in relation to any other contract.
Subregulation 1
An approved clearing house shall, in respect of each financial year of the approved clearing house, cause its auditors to submit to the Authority —
a report covering the first 6 months of the financial year, before the end of the seventh month of the financial year (or at such other time as the Authority may require); and
a report covering the last 6 months of the financial year, before the end of the first month of the next financial year (or at such other time as the Authority may require).
Subregulation 2
The approved clearing house shall ensure that each report referred to in paragraph (1) does, in respect of the period covered by the report —
certify whether the money and assets deposited with or paid to the approved clearing house by a member of the approved clearing house under regulation 23(3), for or in relation to a contract of a customer of the member —
are segregated from any other money and assets deposited by the member with the approved clearing house;
are deposited in a trust account or custody account in accordance with regulation 23(3)(b), and are not commingled with the money and assets of the approved clearing house; and
are used only as permitted under or in accordance with regulation 24 or 25; and
certify whether the money and assets deposited with or paid to the approved clearing house by a member of the approved clearing house under regulation 23(2), for or in relation to a contract of a customer of the member —
are recorded in books separate from the books for the money or assets deposited or paid for or in relation to the contracts of other customers of the member;
are segregated from any other money and assets deposited by the member with the approved clearing house;
are deposited in a trust account or custody account in accordance with regulation 23(2)(b), and are not commingled with the money and assets of the approved clearing house; and
are used only as permitted under or in accordance with regulation 24 or 25; and
set out the amount, on an aggregated basis, of all money and assets deposited by the member with the approved clearing house —
for or in relation to each contract of a customer of the member; and
for or in relation to any other contract.