VOLUME 24 – BULLETIN #018
TO:
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ALL CLEARING PARTICIPANTS
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FROM:
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CLIENT SERVICES AND SUPPORT
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DATE:
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February 13, 2004
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SUBJECT:
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Reporting Requirement Reminder / Contact Update
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As a reminder, clearing participants who are FCMs and/or Broker-Dealers are required to complete monthly financial statements within seventeen (17) business days following the applicable reporting period end. Participants who are non-registered entities are required to complete quarterly financial statements within thirty (30) calendar days following the end of the applicable quarter.
In addition, annual audited statements are required of Broker-Dealers within sixty (60) calendar days following fiscal year-end. Annual audited statements are required of FCMs and non-registered entities within ninety (90) calendar days following fiscal year-end.
Please keep in mind that clearing participants are required to report all information currently required by their DSROs to The Clearing Corporation’s Risk Department including, but not limited to items such as:
• Declines in net capital or net worth of 20% or more within 1 business day
• Planned declines in the above of 30% within 5 days prior to the planned event
• Fines, disciplinary actions, and audit findings from their DSRO or independent auditor
• Placement on more frequent reporting status by their DSRO
• Any relevant legal proceedings or changes in organizational structure
As always, The Clearing Corporation seeks to maintain an open line of communication with our clearing participants. Should a participant wish to update its contact information at this time, it is welcome to do so by completing and returning the Clearing Participant Contact Update List.
Should you have any questions, please call or e-mail one of the following Client Services and Support Representatives:
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