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Bulletin Heading VOLUME 22 – BULLETIN #252

TO:

ALL CLEARING MEMBERS

FROM:

CLIENT SERVICES AND SUPPORT

DATE:

December 27, 2002

SUBJECT:

Financial Reporting Requirements

In an effort to provide incentives for clearing members to comply with financial reporting requirements, the Clearing Corporation has revised its administrative charge schedule to reflect the changes listed below:

Reason for Assessment

Amount/Action

Failure to submit a financial statement on due date

Warning letter

Failure to submit a financial statement within 10 business days of its due date

$250

Failure to submit a financial statement within 20 business days of its due date

an additional $500

Failure to submit a financial statement within 30 business days of its due date

an additional $1,000

Failure to submit a financial statement within 40 business days of its due date

An additional charge or sanction as determined by the Committee

Should you have any questions, please call or e-mail Chip Chong in the Risk Department at 986-3497 (chip.chong@botcc.com) or Dave Thome at 786 5702 (david.thome@botcc.com).